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レポート概要
| 本調査レポートは世界のマルチタリフエネルギーメーター市場について調査・分析し、世界のマルチタリフエネルギーメーター市場概要、メーカー別競争状況、地域別生産量、地域別消費量、タイプ別セグメント分析（単相、三相）、用途別セグメント分析（住宅ビル、商業ビル、工業ビル）、主要企業のプロファイル、市場動向などに関する情報を掲載しています。主要企業としては、HUABANG ELECTRIC TECHNOLOGY、Jiangsu Suyuan Jierui Technology、Ante Instrument、Delixi、INHE、Songxia Electric Meter、Kewei Electric、ARNK、Jiangsu Sfer Electric、ORNO、Schneider、Logos、TECREAPASS ELECTRICAL、Shanghai Dahua Metersなどが含まれています。世界のマルチタリフエネルギーメーター市場は、2022年にXXX米ドル、2029年にはXXX米ドルに達すると予測され、予測期間中の年平均成長率はXXX％です。COVID-19とロシア・ウクライナ戦争による影響は、マルチタリフエネルギーメーター市場規模を推定する際に考慮しました。本レポートは、マルチタリフエネルギーメーターの世界市場を定量的・定性的な分析により包括的に提示し、読者がビジネス/成長戦略を策定し、市場競争状況を把握し、現在の市場における自社のポジションを分析し、マルチタリフエネルギーメーターに関するビジネス上の意思決定に役立てることを目的としています。 ・マルチタリフエネルギーメーター市場の概要 - 製品の定義 - マルチタリフエネルギーメーターのタイプ別セグメント - 世界のマルチタリフエネルギーメーター市場成長率のタイプ別分析（単相、三相） - マルチタリフエネルギーメーターの用途別セグメント - 世界のマルチタリフエネルギーメーター市場成長率の用途別分析（住宅ビル、商業ビル、工業ビル） - 世界市場の成長展望 - 世界のマルチタリフエネルギーメーター生産量の推定と予測（2018年-2029年） - 世界のマルチタリフエネルギーメーター生産能力の推定と予測（2018年-2029年） - マルチタリフエネルギーメーターの平均価格の推定と予測（2018年-2029年） - 前提条件と制限事項 ・メーカー別競争状況 - メーカー別市場シェア - 世界の主要メーカー、業界ランキング分析 - メーカー別平均価格 - マルチタリフエネルギーメーター市場の競争状況およびトレンド ・マルチタリフエネルギーメーターの地域別生産量 - マルチタリフエネルギーメーター生産量の地域別推計と予測（2018年-2029年） - 地域別マルチタリフエネルギーメーター価格分析（2018年-2023年） - 北米のマルチタリフエネルギーメーター生産規模（2018年-2029年） - ヨーロッパのマルチタリフエネルギーメーター生産規模（2018年-2029年） - 中国のマルチタリフエネルギーメーター生産規模（2018年-2029年） - 日本のマルチタリフエネルギーメーター生産規模（2018年-2029年） - 韓国のマルチタリフエネルギーメーター生産規模（2018年-2029年） - インドのマルチタリフエネルギーメーター生産規模（2018年-2029年） ・マルチタリフエネルギーメーターの地域別消費量 - マルチタリフエネルギーメーター消費量の地域別推計と予測（2018年-2029年） - 北米のマルチタリフエネルギーメーター消費量（2018年-2029年） - アメリカのマルチタリフエネルギーメーター消費量（2018年-2029年） - ヨーロッパのマルチタリフエネルギーメーター消費量（2018年-2029年） - アジア太平洋のマルチタリフエネルギーメーター消費量（2018年-2029年） - 中国のマルチタリフエネルギーメーター消費量（2018年-2029年） - 日本のマルチタリフエネルギーメーター消費量（2018年-2029年） - 韓国のマルチタリフエネルギーメーター消費量（2018年-2029年） - 東南アジアのマルチタリフエネルギーメーター消費量（2018年-2029年） - インドのマルチタリフエネルギーメーター消費量（2018年-2029年） - 中南米・中東・アフリカのマルチタリフエネルギーメーター消費量（2018年-2029年） ・タイプ別セグメント：単相、三相 - 世界のマルチタリフエネルギーメーターのタイプ別生産量（2018年-2023年） - 世界のマルチタリフエネルギーメーターのタイプ別生産量（2024年-2029年） - 世界のマルチタリフエネルギーメーターのタイプ別価格 ・用途別セグメント：住宅ビル、商業ビル、工業ビル - 世界のマルチタリフエネルギーメーターの用途別生産量（2018年-2023年） - 世界のマルチタリフエネルギーメーターの用途別生産量（2024年-2029年） - 世界のマルチタリフエネルギーメーターの用途別価格 ・主要企業のプロファイル：企業情報、製品ポートフォリオ、生産量、価格、動向 HUABANG ELECTRIC TECHNOLOGY、Jiangsu Suyuan Jierui Technology、Ante Instrument、Delixi、INHE、Songxia Electric Meter、Kewei Electric、ARNK、Jiangsu Sfer Electric、ORNO、Schneider、Logos、TECREAPASS ELECTRICAL、Shanghai Dahua Meters ・産業チェーンと販売チャネルの分析 - マルチタリフエネルギーメーター産業チェーン分析 - マルチタリフエネルギーメーターの主要原材料 - マルチタリフエネルギーメーターの販売チャネル - マルチタリフエネルギーメーターのディストリビューター - マルチタリフエネルギーメーターの主要顧客 ・マルチタリフエネルギーメーター市場ダイナミクス - マルチタリフエネルギーメーターの業界動向 - マルチタリフエネルギーメーター市場の成長ドライバ、課題、阻害要因 ・調査成果および結論 ・調査方法とデータソース |
The global Multi-Tariff Energy Meter market was valued at US$ million in 2022 and is anticipated to reach US$ million by 2029, witnessing a CAGR of % during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
North American market for Multi-Tariff Energy Meter is estimated to increase from $ million in 2023 to reach $ million by 2029, at a CAGR of % during the forecast period of 2023 through 2029.
Asia-Pacific market for Multi-Tariff Energy Meter is estimated to increase from $ million in 2023 to reach $ million by 2029, at a CAGR of % during the forecast period of 2023 through 2029.
The key global companies of Multi-Tariff Energy Meter include HUABANG ELECTRIC TECHNOLOGY, Jiangsu Suyuan Jierui Technology, Ante Instrument, Delixi, INHE, Songxia Electric Meter, Kewei Electric, ARNK and Jiangsu Sfer Electric, etc. In 2022, the world’s top three vendors accounted for approximately % of the revenue.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Multi-Tariff Energy Meter, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Multi-Tariff Energy Meter.
The Multi-Tariff Energy Meter market size, estimations, and forecasts are provided in terms of output/shipments (K Units) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Multi-Tariff Energy Meter market comprehensively. Regional market sizes, concerning products by type, by application and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Multi-Tariff Energy Meter manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.
By Company
HUABANG ELECTRIC TECHNOLOGY
Jiangsu Suyuan Jierui Technology
Ante Instrument
Delixi
INHE
Songxia Electric Meter
Kewei Electric
ARNK
Jiangsu Sfer Electric
ORNO
Schneider
Logos
TECREAPASS ELECTRICAL
Shanghai Dahua Meters
Segment by Type
Single Phase
Three Phase
Segment by Application
Residential Building
Commercial Building
Industrial Building
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
China Taiwan
Southeast Asia
India
Latin America
Mexico
Brazil
Core Chapters
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by type, by application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Detailed analysis of Multi-Tariff Energy Meter manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Multi-Tariff Energy Meter by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 4: Consumption of Multi-Tariff Energy Meter in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and production of each country in the world.
Chapter 5: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: Provides profiles of key players, introducing the basic situation of the key companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: The main points and conclusions of the report.
1 Multi-Tariff Energy Meter Market Overview
1.1 Product Definition
1.2 Multi-Tariff Energy Meter Segment by Type
1.2.1 Global Multi-Tariff Energy Meter Market Value Growth Rate Analysis by Type 2022 VS 2029
1.2.2 Single Phase
1.2.3 Three Phase
1.3 Multi-Tariff Energy Meter Segment by Application
1.3.1 Global Multi-Tariff Energy Meter Market Value Growth Rate Analysis by Application: 2022 VS 2029
1.3.2 Residential Building
1.3.3 Commercial Building
1.3.4 Industrial Building
1.4 Global Market Growth Prospects
1.4.1 Global Multi-Tariff Energy Meter Production Value Estimates and Forecasts (2018-2029)
1.4.2 Global Multi-Tariff Energy Meter Production Capacity Estimates and Forecasts (2018-2029)
1.4.3 Global Multi-Tariff Energy Meter Production Estimates and Forecasts (2018-2029)
1.4.4 Global Multi-Tariff Energy Meter Market Average Price Estimates and Forecasts (2018-2029)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Multi-Tariff Energy Meter Production Market Share by Manufacturers (2018-2023)
2.2 Global Multi-Tariff Energy Meter Production Value Market Share by Manufacturers (2018-2023)
2.3 Global Key Players of Multi-Tariff Energy Meter, Industry Ranking, 2021 VS 2022 VS 2023
2.4 Global Multi-Tariff Energy Meter Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Multi-Tariff Energy Meter Average Price by Manufacturers (2018-2023)
2.6 Global Key Manufacturers of Multi-Tariff Energy Meter, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Multi-Tariff Energy Meter, Product Offered and Application
2.8 Global Key Manufacturers of Multi-Tariff Energy Meter, Date of Enter into This Industry
2.9 Multi-Tariff Energy Meter Market Competitive Situation and Trends
2.9.1 Multi-Tariff Energy Meter Market Concentration Rate
2.9.2 Global 5 and 10 Largest Multi-Tariff Energy Meter Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Multi-Tariff Energy Meter Production by Region
3.1 Global Multi-Tariff Energy Meter Production Value Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
3.2 Global Multi-Tariff Energy Meter Production Value by Region (2018-2029)
3.2.1 Global Multi-Tariff Energy Meter Production Value Market Share by Region (2018-2023)
3.2.2 Global Forecasted Production Value of Multi-Tariff Energy Meter by Region (2024-2029)
3.3 Global Multi-Tariff Energy Meter Production Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
3.4 Global Multi-Tariff Energy Meter Production by Region (2018-2029)
3.4.1 Global Multi-Tariff Energy Meter Production Market Share by Region (2018-2023)
3.4.2 Global Forecasted Production of Multi-Tariff Energy Meter by Region (2024-2029)
3.5 Global Multi-Tariff Energy Meter Market Price Analysis by Region (2018-2023)
3.6 Global Multi-Tariff Energy Meter Production and Value, Year-over-Year Growth
3.6.1 North America Multi-Tariff Energy Meter Production Value Estimates and Forecasts (2018-2029)
3.6.2 Europe Multi-Tariff Energy Meter Production Value Estimates and Forecasts (2018-2029)
3.6.3 China Multi-Tariff Energy Meter Production Value Estimates and Forecasts (2018-2029)
3.6.4 Japan Multi-Tariff Energy Meter Production Value Estimates and Forecasts (2018-2029)
4 Multi-Tariff Energy Meter Consumption by Region
4.1 Global Multi-Tariff Energy Meter Consumption Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
4.2 Global Multi-Tariff Energy Meter Consumption by Region (2018-2029)
4.2.1 Global Multi-Tariff Energy Meter Consumption by Region (2018-2023)
4.2.2 Global Multi-Tariff Energy Meter Forecasted Consumption by Region (2024-2029)
4.3 North America
4.3.1 North America Multi-Tariff Energy Meter Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.3.2 North America Multi-Tariff Energy Meter Consumption by Country (2018-2029)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Multi-Tariff Energy Meter Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.4.2 Europe Multi-Tariff Energy Meter Consumption by Country (2018-2029)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific Multi-Tariff Energy Meter Consumption Growth Rate by Region: 2018 VS 2022 VS 2029
4.5.2 Asia Pacific Multi-Tariff Energy Meter Consumption by Region (2018-2029)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa Multi-Tariff Energy Meter Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.6.2 Latin America, Middle East & Africa Multi-Tariff Energy Meter Consumption by Country (2018-2029)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
5 Segment by Type
5.1 Global Multi-Tariff Energy Meter Production by Type (2018-2029)
5.1.1 Global Multi-Tariff Energy Meter Production by Type (2018-2023)
5.1.2 Global Multi-Tariff Energy Meter Production by Type (2024-2029)
5.1.3 Global Multi-Tariff Energy Meter Production Market Share by Type (2018-2029)
5.2 Global Multi-Tariff Energy Meter Production Value by Type (2018-2029)
5.2.1 Global Multi-Tariff Energy Meter Production Value by Type (2018-2023)
5.2.2 Global Multi-Tariff Energy Meter Production Value by Type (2024-2029)
5.2.3 Global Multi-Tariff Energy Meter Production Value Market Share by Type (2018-2029)
5.3 Global Multi-Tariff Energy Meter Price by Type (2018-2029)
6 Segment by Application
6.1 Global Multi-Tariff Energy Meter Production by Application (2018-2029)
6.1.1 Global Multi-Tariff Energy Meter Production by Application (2018-2023)
6.1.2 Global Multi-Tariff Energy Meter Production by Application (2024-2029)
6.1.3 Global Multi-Tariff Energy Meter Production Market Share by Application (2018-2029)
6.2 Global Multi-Tariff Energy Meter Production Value by Application (2018-2029)
6.2.1 Global Multi-Tariff Energy Meter Production Value by Application (2018-2023)
6.2.2 Global Multi-Tariff Energy Meter Production Value by Application (2024-2029)
6.2.3 Global Multi-Tariff Energy Meter Production Value Market Share by Application (2018-2029)
6.3 Global Multi-Tariff Energy Meter Price by Application (2018-2029)
7 Key Companies Profiled
7.1 HUABANG ELECTRIC TECHNOLOGY
7.1.1 HUABANG ELECTRIC TECHNOLOGY Multi-Tariff Energy Meter Corporation Information
7.1.2 HUABANG ELECTRIC TECHNOLOGY Multi-Tariff Energy Meter Product Portfolio
7.1.3 HUABANG ELECTRIC TECHNOLOGY Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.1.4 HUABANG ELECTRIC TECHNOLOGY Main Business and Markets Served
7.1.5 HUABANG ELECTRIC TECHNOLOGY Recent Developments/Updates
7.2 Jiangsu Suyuan Jierui Technology
7.2.1 Jiangsu Suyuan Jierui Technology Multi-Tariff Energy Meter Corporation Information
7.2.2 Jiangsu Suyuan Jierui Technology Multi-Tariff Energy Meter Product Portfolio
7.2.3 Jiangsu Suyuan Jierui Technology Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.2.4 Jiangsu Suyuan Jierui Technology Main Business and Markets Served
7.2.5 Jiangsu Suyuan Jierui Technology Recent Developments/Updates
7.3 Ante Instrument
7.3.1 Ante Instrument Multi-Tariff Energy Meter Corporation Information
7.3.2 Ante Instrument Multi-Tariff Energy Meter Product Portfolio
7.3.3 Ante Instrument Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.3.4 Ante Instrument Main Business and Markets Served
7.3.5 Ante Instrument Recent Developments/Updates
7.4 Delixi
7.4.1 Delixi Multi-Tariff Energy Meter Corporation Information
7.4.2 Delixi Multi-Tariff Energy Meter Product Portfolio
7.4.3 Delixi Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.4.4 Delixi Main Business and Markets Served
7.4.5 Delixi Recent Developments/Updates
7.5 INHE
7.5.1 INHE Multi-Tariff Energy Meter Corporation Information
7.5.2 INHE Multi-Tariff Energy Meter Product Portfolio
7.5.3 INHE Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.5.4 INHE Main Business and Markets Served
7.5.5 INHE Recent Developments/Updates
7.6 Songxia Electric Meter
7.6.1 Songxia Electric Meter Multi-Tariff Energy Meter Corporation Information
7.6.2 Songxia Electric Meter Multi-Tariff Energy Meter Product Portfolio
7.6.3 Songxia Electric Meter Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.6.4 Songxia Electric Meter Main Business and Markets Served
7.6.5 Songxia Electric Meter Recent Developments/Updates
7.7 Kewei Electric
7.7.1 Kewei Electric Multi-Tariff Energy Meter Corporation Information
7.7.2 Kewei Electric Multi-Tariff Energy Meter Product Portfolio
7.7.3 Kewei Electric Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.7.4 Kewei Electric Main Business and Markets Served
7.7.5 Kewei Electric Recent Developments/Updates
7.8 ARNK
7.8.1 ARNK Multi-Tariff Energy Meter Corporation Information
7.8.2 ARNK Multi-Tariff Energy Meter Product Portfolio
7.8.3 ARNK Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.8.4 ARNK Main Business and Markets Served
7.7.5 ARNK Recent Developments/Updates
7.9 Jiangsu Sfer Electric
7.9.1 Jiangsu Sfer Electric Multi-Tariff Energy Meter Corporation Information
7.9.2 Jiangsu Sfer Electric Multi-Tariff Energy Meter Product Portfolio
7.9.3 Jiangsu Sfer Electric Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.9.4 Jiangsu Sfer Electric Main Business and Markets Served
7.9.5 Jiangsu Sfer Electric Recent Developments/Updates
7.10 ORNO
7.10.1 ORNO Multi-Tariff Energy Meter Corporation Information
7.10.2 ORNO Multi-Tariff Energy Meter Product Portfolio
7.10.3 ORNO Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.10.4 ORNO Main Business and Markets Served
7.10.5 ORNO Recent Developments/Updates
7.11 Schneider
7.11.1 Schneider Multi-Tariff Energy Meter Corporation Information
7.11.2 Schneider Multi-Tariff Energy Meter Product Portfolio
7.11.3 Schneider Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.11.4 Schneider Main Business and Markets Served
7.11.5 Schneider Recent Developments/Updates
7.12 Logos
7.12.1 Logos Multi-Tariff Energy Meter Corporation Information
7.12.2 Logos Multi-Tariff Energy Meter Product Portfolio
7.12.3 Logos Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.12.4 Logos Main Business and Markets Served
7.12.5 Logos Recent Developments/Updates
7.13 TECREAPASS ELECTRICAL
7.13.1 TECREAPASS ELECTRICAL Multi-Tariff Energy Meter Corporation Information
7.13.2 TECREAPASS ELECTRICAL Multi-Tariff Energy Meter Product Portfolio
7.13.3 TECREAPASS ELECTRICAL Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.13.4 TECREAPASS ELECTRICAL Main Business and Markets Served
7.13.5 TECREAPASS ELECTRICAL Recent Developments/Updates
7.14 Shanghai Dahua Meters
7.14.1 Shanghai Dahua Meters Multi-Tariff Energy Meter Corporation Information
7.14.2 Shanghai Dahua Meters Multi-Tariff Energy Meter Product Portfolio
7.14.3 Shanghai Dahua Meters Multi-Tariff Energy Meter Production, Value, Price and Gross Margin (2018-2023)
7.14.4 Shanghai Dahua Meters Main Business and Markets Served
7.14.5 Shanghai Dahua Meters Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Multi-Tariff Energy Meter Industry Chain Analysis
8.2 Multi-Tariff Energy Meter Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Multi-Tariff Energy Meter Production Mode & Process
8.4 Multi-Tariff Energy Meter Sales and Marketing
8.4.1 Multi-Tariff Energy Meter Sales Channels
8.4.2 Multi-Tariff Energy Meter Distributors
8.5 Multi-Tariff Energy Meter Customers
9 Multi-Tariff Energy Meter Market Dynamics
9.1 Multi-Tariff Energy Meter Industry Trends
9.2 Multi-Tariff Energy Meter Market Drivers
9.3 Multi-Tariff Energy Meter Market Challenges
9.4 Multi-Tariff Energy Meter Market Restraints
10 Research Finding and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Market Size Estimation
11.1.3 Market Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer