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Omnitek Engineering Corp.  (OMTK)
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Omnitek Engineering's

Competitiveness


 

OMTK Sales vs. its Competitors Q2 2019



Comparing the results to its competitors, Omnitek Engineering reported Total Revenue decrease in the 2 quarter 2019 year on year by -28.46 %, faster than overall decrease of Omnitek Engineering's competitors by -1.48 %, 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 -19.01 %

<<  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.





  

Total Segment Market Share Q2 2019

Total segment, revenue fell by -28.46 % and company lost market share, to approximate 0 %.





<<  More on OMTK Market Share.
 

*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
SUBTOTAL 337,631 464,825 5,928 1,031,194


             
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