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Omnitek Engineering Corp   (OMTK)
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Omnitek Engineering 's

Competitiveness


 

OMTK Sales vs. its Competitors Q1 2021



Comparing the results to its competitors, Omnitek Engineering reported Total Revenue decrease in the 1 quarter 2021 year on year by -5.55 %, faster than overall decrease of Omnitek Engineering 's competitors by -8.48 %, recorded in the same quarter.

List of OMTK Competitors





Revenue Growth Comparisons




Net Income Comparison


Omnitek Engineering Corp recorded net loss and most of company's competitors saw decline in earnings by -47.42 %

<<  More on OMTK Income Comparisons


Omnitek Engineering 's Comment on Competitors and Industry Peers


We believe our products have many important advantages, some of which are performance, ease of use, and lower cost. We compete in a small segment of the transportation and energy arena. Most of the larger multinational corporations do not offer a complete solution for the markets the Company services. We believe that competition in these markets is principally based on the quality of the product, performance, reliability, service, deliverability, and price. Because of the Company's limited financial resources, Omnitek could be at a competitive disadvantage compared to most other suppliers of competitive products and services outside the United States.

Competition - Diesel-to-Natural Gas Engine Conversions.

The Company encounters competing products in countries where no emission standards are enforced, and where carbureted systems are still being used such as China, India, Bangladesh, Peru and others. These systems can be used to convert low power diesel engines found in these countries. When converting emissions controlled high power engines, as found in the USA and Western Europe, a fuel injection system, like the Omnitek system, must be used.

As of today, the Company is not aware of any direct competitors to its diesel-to-natural gas engine conversion technology for high-power heavy-duty diesel engines required to meet US EPA or CARB emissions standards. Suppliers like Fuel Systems Solutions, Bosch and Keihin supply mainly original equipment engine manufacturers and do not offer complete systems to convert diesel engines to natural gas. Cummins offers new natural gas engines, not engine conversion systems.

There are numerous companies, such as BRC, Landirenzo, Tartarini, OMVL, Tomasetto, supplying natural gas components for use on gasoline cars and small trucks. These technologies have been on the market for many years and millions of vehicles have been converted worldwide using these technologies. However, this technology is not suitable for heavy-duty diesel engines, and is not in direct competition with Omnitek's technology. At this time Omnitek is not planning to compete in the small-engine market.

Competition - Dual Fuel Technology

The dual fuel technology, where natural gas is mixed with diesel and both fuels are used at the same time, offers low-money savings potential and is not considered a competing technology.

Competition - New Natural Gas Engines.

Under certain conditions it is not cost effective, or technologically feasible, to convert a diesel engine to operate on natural gas. Emission standards sometimes dictate the use of highly sophisticated technology that cannot be easily retrofit onto an engine. For those situations, Omnitek offers purpose built new natural gas engines which can be used in buses, trucks, generators and other stationary applications.





  

Overall company Market Share Q1 2021

despite revenue deterioration, Omnitek Engineering inceased its market share in this segment.

company inceased its market share in this segment to approximate 0 %.



<<  More on OMTK Market Share.
 

*Market share calculated with total revenue.


OMTK's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Omnitek Engineering Corp 1 2 0 11
Dana Inc 8,570 3,461 205 22,600
Dana Corporation 0 0 0 0
Cooper standard Holdings Inc 2,390 441 -192 29,000
Shiloh Industries Inc 816 9 -213 3,400
Altra Industrial Motion Corp 1,852 4,099 149 3,855
Itt Inc 2,513 8,418 75 9,400
Emerson Electric Co 17,064 60,154 2,157 103,500
Eaton Corporation Plc 17,914 62,737 1,436 102,000
China Automotive Systems Inc 401 130 0 4,230
Aptiv Plc 13,863 45,240 555 0
Fuel Systems Solutions, Inc. 0 0 0 1,300
Greenkraft, Inc. 1 2 0 18
Metaldyne Performance Group Inc. 0 0 0 12,000
Meritor Inc 3,144 1,786 67 8,400
Sorl Auto Parts Inc 540 91 28 3,070
Tenneco Inc 16,274 1,426 -547 30,000
Unique Fabricating Inc 120 26 -6 734
Enerpulse Technologies, Inc. 0 0 0 8
Wabco Holdings Inc 3,234 7,013 199 12,429
Caterpillar Inc 43,000 113,125 3,441 114,233
Cummins Inc 20,892 33,970 1,894 54,600
Brunswick Corporation 4,815 8,143 473 12,165
General Electric Co 76,742 853,663 -2,488 305,000
Sigma Labs Inc 1 35 -6 4
Borgwarner Inc 11,895 11,632 524 30,000
Allison Transmission Holdings inc 2,258 4,335 367 2,700
Gentherm Incorporated 1,043 2,817 94 10,098
Novo Integrated Sciences Inc 8 8 -7 1
Johnson Outdoors Inc 803 1,198 76 1,200
Barnes Group Inc 1,181 2,589 77 5,036
Honda Motor Co Ltd 118,717 55,426 6,269 0
Generac Holdings Inc 2,817 26,881 454 4,202
Enpro Industries Inc 1,077 1,927 211 5,000
Timken Co 3,615 6,127 324 14,000
SUBTOTAL 377,562 1,316,910 15,617 904,194


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