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Omnitek Engineering Corp   (OMTK)
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Omnitek Engineering 's

Competitiveness


 

OMTK Sales vs. its Competitors Q1 2020



Comparing the results to its competitors, Omnitek Engineering reported Total Revenue decrease in the 1 quarter 2020 year on year by -34.27 %, faster than overall decrease of Omnitek Engineering 's competitors by -6.49 %, 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 -5.54 %

<<  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 Q1 2020

overall company, revenue fell by -34.27 % 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 1 1 -1 11
Dana Inc DAN 1,681 8,383 170 22,600
Dana Corporation DCN 0 0 0 0
Cooper standard Holdings Inc CPS 209 2,883 -47 29,000
Shiloh Industries Inc SHLO 49 1,039 -19 3,400
Altra Industrial Motion Corp AIMC 2,012 1,786 -25 3,855
Itt Inc ITT 5,119 2,814 340 9,400
Emerson Electric Co EMR 37,944 17,968 2,189 103,500
Eaton Corporation Plc ETN 36,041 21,299 2,129 102,000
China Automotive Systems Inc CAAS 99 463 -20 4,230
Aptiv Plc APTV 20,106 14,357 1,009 0
Fuel Systems Solutions, Inc. FSYS 0 0 0 1,300
Greenkraft, Inc. GKIT 3 1 0 18
Metaldyne Performance Group Inc. MPG 0 0 0 12,000
Meritor Inc MTOR 1,517 3,993 420 8,400
Sorl Auto Parts Inc SORL 91 540 28 3,070
Tenneco Inc TEN 601 16,802 -941 30,000
Unique Fabricating Inc UFAB 31 148 -10 734
Enerpulse Technologies, Inc. ENPT 0 0 0 8
Wabco Holdings Inc WBC 7,013 3,234 199 12,429
Caterpillar Inc CAT 70,466 50,969 5,303 114,233
Cummins Inc CMI 26,419 22,578 2,127 54,600
Brunswick Corporation BC 5,231 3,798 -26 12,165
General Electric Co GE 59,757 87,919 -2,324 305,000
Sigma Labs Inc SGLB 4 1 -6 4
Borgwarner Inc BWA 7,248 9,881 763 30,000
Allison Transmission Holdings inc ALSN 4,393 2,698 604 2,700
Gentherm Incorporated THRM 1,274 942 41 10,098
Novo Integrated Sciences Inc TTEG 74 10 -1 1
Johnson Outdoors Inc JOUT 933 544 53 1,200
Barnes Group Inc B 2,045 1,491 158 5,036
Honda Motor Co Ltd HMC 45,815 139,769 4,773 0
Generac Holdings Inc GNRC 8,001 2,204 252 4,202
Enpro Industries Inc NPO 1,000 1,206 38 5,000
Timken Co TKR 3,543 3,734 363 14,000
SUBTOTAL 348,720 423,456 17,541 904,194


       
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