What Is The Role Of Cummins Inc In The Engine Industry, And How Has It Impacted The Market?
In 1919, Clessie Cummins, an Indiana mechanic at the time, founded the Cummins Engine Company with a focus on further developing the new engine technology that was pioneered about 20 years earlier by Rudolf Diesel. It was not until 1933 that the company unveiled its first successful engine, the Model H, which was used in railroad switchers. The company experienced large success once World War II came around as they became a leader in producing heavy duty truck engines. With their new (at the time) N series engines, they captured more than half of the market share of engines between 1952 and 1959. By current day, 2012, the company operates in over 197 countries. As a Fortune 500 corporation, Cummins Inc. is listed on the New York Stock Exchange and reports net income of $1.64 billion annually, along with $17.3 billion in sales. They operate a network of over 600 distributors and dealers around the world, both independent and company-owned. The company focuses primarily on the design, manufacturing, and distribution of engines, filtration, and power generation products, although they are also involved in producing fuel systems, controls, air handling, emission control, and electrical power generation systems, along with related engine services.
Cummins is divided into the following business units: Cummins Engine Business, Cummins Power Generation Business, Cummins Component Business, and Cummins Distribution Business. These divisions combine to contribute to the global reach that the company has, which in its current state as mentioned, is present in over 197 countries. Recently, Cummins was recognized as the 2014 overall best heavy-duty engine supplier by Frost & Sullivan, and was given the United States Overall Heavy-Duty Truck Engines Product Leadership Award. Cummins has also been a major player in the rail industry, helping the industry move forward to tier 4 emissions regulations mandated by the US Environmental Protection Agency, with over 100 installations on order for locomotives and rail cars. In addition, Cummins also boasts ultra-clean engines with increased fuel economy and quieter operation, which was very recently introduced.