Omnitek Engineering Corp   (OMTK)
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Omnitek Engineering 's



OMTK Sales vs. its Competitors Q3 2022

Comparing the results to its competitors, Omnitek Engineering reported Total Revenue decrease in the 3 quarter 2022 year on year by -21.34 %, despite revenue increase by most of its competitors of 12.18 %, 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 -13.73 %

<<  OMTK Stock Performance 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 Q3 2022

Overall company, revenue fell by -21.34 % and company lost market share, to approximate 0 %.

<<  More on OMTK Market Share.
*Market share is calculated based on total revenue.

OMTK's vs. Competition, Data

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

(in millions of $)
(in millions of $)
(in millions of $)
Omnitek Engineering Corp OMTK 0.00 1.00 0.00 11
Altra Industrial Motion Corp AIMC 3,988 1,945.90 17.00 3,855
Allison Transmission Holdings Inc ALSN 4,365 2,695.00 508.00 2,700
Aptiv Plc APTV 30,659 16,983.00 363.00 151,000
Barnes Group Inc B 2,260 1,272.07 33.43 5,036
Brunswick Corporation BC 6,420 6,311.30 619.20 12,165
Borgwarner Inc BWA 11,375 15,348.00 901.00 29,000
China Automotive Systems inc CAAS 265 509.00 17.82 4,230
Caterpillar Inc CAT 131,657 56,628.00 7,370.00 102,300
Cummins Inc CMI 35,629 26,154.00 1,939.00 59,720
Cooper standard Holdings Inc CPS 287 2,477.40 -233.90 29,000
Dana Inc DAN 2,694 9,874.00 -104.00 22,600
Emerson Electric Co EMR 54,718 19,629.00 3,230.00 83,500
Eaton Corporation Plc ETN 65,385 20,322.00 2,293.00 95,250
General Electric Company GE 93,296 75,140.00 -5,787.00 174,000
Generac Holdings Inc GNRC 7,751 4,065.61 523.52 4,202
Honda Motor Co. Ltd. HMC 0 108,264.49 5,659.22 0
Itt Inc ITT 7,648 2,820.20 337.70 9,400
Johnson Outdoors Inc JOUT 697 743.36 44.49 1,200
Meritor Inc. MTOR 2,621 4,295.00 264.00 8,400
Enpro Industries Inc NPO 2,525 1,222.90 179.70 5,000
Novo Integrated Sciences Inc. NVOS 4 21.79 -10.97 0
Sigma Additive Solutions Inc SASI 6 1.18 -9.24 0
Shiloh Industries Inc SHLO 9 815.74 -213.17 3,400
Tenneco Inc TEN 1,673 18,634.00 -180.00 30,000
Gentherm Incorporated THRM 2,520 1,109.56 48.69 10,098
Timken Co TKR 6,072 4,422.00 384.60 14,000
Unique Fabricating Inc UFAB 9 134.91 -23.36 734
Wabco Holdings Inc WBC 7,013 3,234.20 198.90 12,429
SUBTOTAL 481,545.88 405,074.67 18,370.55 873,230

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