HIMOINSA receives a prize in London for its customer-focused growth strategy
Frost&Sullivan, the market research agency, awarded HIMOINSA its prize for Growth Excellence Leadership, during an award ceremony that took place in London last night.
Based on its recent analysis of the generator set market, Frost & Sullivan recognizes Himoinsa with the 2016 European Frost & Sullivan Award for Growth Excellence Leadership. Himoinsa has leveraged 35 years of experience in providing power solutions across industries and geographies to dominate the genset market. By combining its efficient and reliable products with excellent relations with key suppliers, Himoinsa delivers tailor-made and innovative solutions to clients to help them solve their critical power needs.
Himoinsa has beaten the odds and grown in the stagnant genset market by presenting world-class service along with its high-quality products. It continues to purchase and open new subsidiaries in countries where demand for gensets is high and will continue to grow. On the back of these efforts, it posted a year-on-year growth rate of 15% in 2015 in a market that is witnessing low single digit growth. It is currently one of the top 5 companies in the European diesel genset market with a share of 8%.
Inglés made clear that “HIMOINSA will continue to grow and to open new production centres and commercial subsidiaries all over the world so that we can listen closely to our customers and meet their needs.”
Himoinsa serves a diverse client base by tailoring its solutions to the needs of each industry, including telecommunications, data centres, hospitals, and shopping malls. Compared to its competitors, who have standard product processes, Himoinsa is able to undertake special projects that require significant changes to the end product.
"Custom projects are the company's USP, as it has strong engineering capability as well as manufacturing flexibility," said Frost & Sullivan Research Analyst Manoj Shankar. "Being a vertically integrated company that manufactures all genset components in-house, Himoinsa not only boasts high-quality products but also the shortest delivery times in the market."
Apart from expanding its brand within Europe, Himoinsa has set up 11 subsidiaries in the UK, South Africa, Singapore, Dubai, Poland, Germany, Portugal, Angola, Argentina, Panama, and the Dominican Republic. Its strategy of tapping into new and upcoming distribution channels such as rental companies and engineering companies has proved hugely successful.
"By growing organically with new sales offices, opening distribution centres and investing in distribution companies in emerging regions, the company is creating a stable growth network," noted Manoj. "Currently, there are more than 130 Himoinsa dealers across five continents providing direct market support. This regional presence increases the company's visibility, brand value, and customer confidence, all of which contribute to revenue growth."
Himoinsa strives to offer its customers a best-in-class sales and service experience through its distribution network. Furthermore, its engineering team supports the sales and distribution teams to understand the client and project requirements right at the start of the project.
Himoinsa has proved to be an exciting company to partner with due to its inspirational zeal for growth. Its brand loyalty and competitiveness has helped it carve out a unique, sustainable position in the genset market, making it eminently worthy of Frost & Sullivan's honour.
Each year, Frost & Sullivan bestows this award upon the company that demonstrates excellence in growth and customer value. It recognises the superiority of the product/service as well as the overall customer, purchase, ownership, and service experience offered, which has resulted in the recipient company seeing above-market growth and greater share of the wallet. The award lauds the growth, diversification, and sustainability strategies of the company.