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Omnitek Engineering Corp. (OMTK) |
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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.
Total Segment Market Share Q2 2019 |
*Market share is not actual measurement, only performance comparison of companies which report and operate within the same segment.
OMTK's vs. Competition, Data
(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)
| COMPANY NAME |
TICKER |
MARKET CAP |
REVENUES |
INCOME |
EMPLOYEES |
| Omnitek Engineering Corp. |
OMTK |
2 |
1 |
-1 |
11 |
| Altra Industrial Motion Corp. |
AIMC |
1,851 |
1,647 |
72 |
3,855 |
| Allison Transmission Holdings, Inc |
ALSN |
5,816 |
2,751 |
662 |
2,700 |
| Barnes Group Inc |
B |
2,898 |
1,502 |
150 |
5,036 |
| Brunswick Corporation |
BC |
4,712 |
5,042 |
155 |
12,165 |
| Borgwarner Inc. |
BWA |
7,970 |
10,168 |
817 |
30,000 |
| China Automotive Systems Inc |
CAAS |
68 |
514 |
18 |
4,230 |
| Caterpillar Inc |
CAT |
75,747 |
55,750 |
6,279 |
114,233 |
| Cummins Inc. |
CMI |
25,757 |
24,294 |
2,662 |
54,600 |
| Cooper-standard Holdings Inc. |
CPS |
814 |
3,378 |
145 |
29,000 |
| Dana Inc |
DAN |
2,167 |
8,643 |
291 |
22,600 |
| Dana Corporation |
DCN |
0 |
0 |
0 |
0 |
| Delphi Technologies Plc |
DLPH |
1,429 |
9,393 |
538 |
127,000 |
| Emerson Electric Co. |
EMR |
40,443 |
18,289 |
2,226 |
103,500 |
| Enerpulse Technologies, Inc. |
ENPT |
0 |
0 |
0 |
8 |
| Eaton Corp Plc |
ETN |
36,429 |
22,109 |
2,206 |
102,000 |
| Fuel Systems Solutions, Inc. |
FSYS |
0 |
0 |
0 |
1,300 |
| General Electric Co |
GE |
57,096 |
118,968 |
-18,250 |
305,000 |
| Greenkraft, Inc. |
GKIT |
4 |
1 |
0 |
18 |
| Generac Holdings Inc. |
GNRC |
5,134 |
2,143 |
261 |
4,202 |
| Honda Motor Co Ltd |
HMC |
47,610 |
146,994 |
6,257 |
0 |
| Itt Inc. |
ITT |
5,447 |
2,776 |
301 |
9,400 |
| Johnson Outdoors Inc |
JOUT |
0 |
544 |
43 |
1,200 |
| Metaldyne Performance Group Inc. |
MPG |
0 |
0 |
0 |
12,000 |
| Meritor, Inc. |
MTOR |
1,673 |
4,559 |
290 |
8,400 |
| Enpro Industries, Inc |
NPO |
1,464 |
1,517 |
34 |
5,000 |
| Sigma Labs, Inc. |
SGLB |
8 |
0 |
-6 |
4 |
| Shiloh Industries Inc |
SHLO |
96 |
1,096 |
-15 |
3,400 |
| Sorl Auto Parts Inc |
SORL |
63 |
507 |
15 |
3,070 |
| Tenneco Inc |
TEN |
1,088 |
13,693 |
84 |
30,000 |
| Gentherm Inc |
THRM |
1,422 |
1,014 |
23 |
10,098 |
| Timken Co |
TKR |
3,435 |
3,698 |
320 |
14,000 |
| Novo Integrated Sciences, Inc. |
TTEG |
71 |
0 |
0 |
1 |
| Unique Fabricating, Inc. |
UFAB |
25 |
160 |
-7 |
734 |
| Wabco Holdings Inc. |
WBC |
6,891 |
3,672 |
361 |
12,429 |
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SUBTOTAL |
337,631 |
464,825 |
5,928 |
1,031,194 |
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