The first to engineer and manufacture affordable home standby generators, Generac has earned the reputation of a company that home, commercial and business owners turn to when they are in need of standby power. The company's sales increased from $574.2 million in 2008 to $588.2 million in 2009 with a market share of approximately 65 to 70 percent, which it maintained in 2010 as well.
"Generac was able to increase its market share in a highly competitive market because of its offer of a complete portfolio of products and services, " notes Frost & Sullivan research analyst Rajalingham Chinnasamy. "Additionally, Generac strongly believes that best-in-class products in the market deserve the highest level of technical support and service."
Generac's primary focus is on engineering and manufacturing quality generators. The company offers its customers a wide range of power products that include residential, commercial industrial, portable, and recreational vehicle (RV) generators. Generac offers a number of products for residential customers, such as the Guardian® Series—the #1 selling home standby generators on the market—the QuietSource® Series, and the very affordable CorePower™. The company's new EcoGen is the first home standby generator designed specifically for off-grid use in an alternative energy system, like solar or wind power. Generac Industrial Power systems include many gaseous- and diesel-fueled generators. The company's Bi-Fuel™ generators run on a mixture of diesel and natural gas, and its Modular Power Systems (MPS) are available in sizes up to 9MW. Generac portable generators are available from 800W to 17.5kW for the residential and commercial use. Offering such a wide range of products to meet the demands of its customers has helped Generac sustain its market leadership position.
To offer the best service for its customers, Generac has the largest dealer network in the industry. All dealers are fully equipped and trained through the company's factory training program, which includes a 6,000 square foot purpose-built training facility. The company also has a strong parts inventory and distribution system, as well as on-call technical support.
The company is at the forefront in offering superior solutions for demanding power applications. In the backup power industry, factors such as reliability, noise and ease of maintenance should be top priority to gain loyal customers, as well as increase the customer base.
"Generac has impressive brand recognition in North America, and its increased brand visibility is due to its strong public relations and communications efforts, " notes Chinnasamy. "The highly skilled workforce and a friendly working environment at Generac are among the major contributing factors to the company's success in the residential segment of the genset market."
For striving to maximize its customers' results by offering highly reliable and best-in-class generators, Generac is the worthy recipient of the 2010 Frost & Sullivan Market Share Leadership of the Year Award the residential generator sets market.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in capturing the highest market share within its industry. The award recognizes the company's leadership position within the industry in terms of revenues or units.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
Since 1959, Generac (GENERAC.com) has been a leading manufacturer of backup power generation products serving residential, light commercial and industrial markets. Generac's power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent dealers, retailers and wholesalers. Generac is committed to developing a long-term vision that promotes environmentally responsible products, processes and partnerships and strives to be a positive contributor of sustainable growth in the backup power generation industry.
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