▶ 調査レポート

自動式バランシングバルブの世界市場2023年:差圧自動式バランス弁、スタティック、ダイナミック

• 英文タイトル:Global Self-operated Balancing Valve Market Research Report 2023

QYResearchが調査・発行した産業分析レポートです。自動式バランシングバルブの世界市場2023年:差圧自動式バランス弁、スタティック、ダイナミック / Global Self-operated Balancing Valve Market Research Report 2023 / MRC23Q34706資料のイメージです。• レポートコード:MRC23Q34706
• 出版社/出版日:QYResearch / 2023年3月
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レポート概要
本調査レポートは世界の自動式バランシングバルブ市場について調査・分析し、世界の自動式バランシングバルブ市場概要、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(差圧自動式バランス弁、スタティック、ダイナミック)、用途別セグメント分析(冷却塔、ボイラー、熱交換器)、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、Like Valve (TIANJIN) Co., Ltd、Self-operated Balancing Valve、Victaulic、Botou Valve Manufacturing Industry Co., Ltd.、Wenzhou Ruici Valve Co. LTD、Shinjo Company、Dutco Tennant LLC、Uni Klinger、ThermOmegaTech、OKorder、Shanghai QIGAO Valve Manufacturing Co. Ltd.、NuTech Hydronic Specialty Productsなどが含まれています。世界の自動式バランシングバルブ市場は、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、自動式バランシングバルブ市場規模を推定する際に考慮しました。本レポートは、自動式バランシングバルブ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、自動式バランシングバルブ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。

・自動式バランシングバルブ市場の概要
- 製品の定義
- 自動式バランシングバルブのタイプ別セグメント
- 世界の自動式バランシングバルブ市場成長率のタイプ別分析(差圧自動式バランス弁、スタティック、ダイナミック)
- 自動式バランシングバルブの用途別セグメント
- 世界の自動式バランシングバルブ市場成長率の用途別分析(冷却塔、ボイラー、熱交換器)
- 世界市場の成長展望
- 世界の自動式バランシングバルブ生産量の推定と予測(2018年-2029年)
- 世界の自動式バランシングバルブ生産能力の推定と予測(2018年-2029年)
- 自動式バランシングバルブ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
- 自動式バランシングバルブ市場の競争状況およびトレンド

・自動式バランシングバルブの地域別生産量
- 自動式バランシングバルブ生産量の地域別推計と予測(2018年-2029年)
- 地域別自動式バランシングバルブ価格分析(2018年-2023年)
- 北米の自動式バランシングバルブ生産規模(2018年-2029年)
- ヨーロッパの自動式バランシングバルブ生産規模(2018年-2029年)
- 中国の自動式バランシングバルブ生産規模(2018年-2029年)
- 日本の自動式バランシングバルブ生産規模(2018年-2029年)
- 韓国の自動式バランシングバルブ生産規模(2018年-2029年)
- インドの自動式バランシングバルブ生産規模(2018年-2029年)

・自動式バランシングバルブの地域別消費量
- 自動式バランシングバルブ消費量の地域別推計と予測(2018年-2029年)
- 北米の自動式バランシングバルブ消費量(2018年-2029年)
- アメリカの自動式バランシングバルブ消費量(2018年-2029年)
- ヨーロッパの自動式バランシングバルブ消費量(2018年-2029年)
- アジア太平洋の自動式バランシングバルブ消費量(2018年-2029年)
- 中国の自動式バランシングバルブ消費量(2018年-2029年)
- 日本の自動式バランシングバルブ消費量(2018年-2029年)
- 韓国の自動式バランシングバルブ消費量(2018年-2029年)
- 東南アジアの自動式バランシングバルブ消費量(2018年-2029年)
- インドの自動式バランシングバルブ消費量(2018年-2029年)
- 中南米・中東・アフリカの自動式バランシングバルブ消費量(2018年-2029年)

・タイプ別セグメント:差圧自動式バランス弁、スタティック、ダイナミック
- 世界の自動式バランシングバルブのタイプ別生産量(2018年-2023年)
- 世界の自動式バランシングバルブのタイプ別生産量(2024年-2029年)
- 世界の自動式バランシングバルブのタイプ別価格

・用途別セグメント:冷却塔、ボイラー、熱交換器
- 世界の自動式バランシングバルブの用途別生産量(2018年-2023年)
- 世界の自動式バランシングバルブの用途別生産量(2024年-2029年)
- 世界の自動式バランシングバルブの用途別価格

・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
Like Valve (TIANJIN) Co., Ltd、Self-operated Balancing Valve、Victaulic、Botou Valve Manufacturing Industry Co., Ltd.、Wenzhou Ruici Valve Co. LTD、Shinjo Company、Dutco Tennant LLC、Uni Klinger、ThermOmegaTech、OKorder、Shanghai QIGAO Valve Manufacturing Co. Ltd.、NuTech Hydronic Specialty Products

・産業チェーンと販売チャネルの分析
- 自動式バランシングバルブ産業チェーン分析
- 自動式バランシングバルブの主要原材料
- 自動式バランシングバルブの販売チャネル
- 自動式バランシングバルブのディストリビューター
- 自動式バランシングバルブの主要顧客

・自動式バランシングバルブ市場ダイナミクス
- 自動式バランシングバルブの業界動向
- 自動式バランシングバルブ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 Self-operated Balancing Valve 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 Self-operated Balancing Valve 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 Self-operated Balancing Valve 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 Self-operated Balancing Valve include Like Valve (TIANJIN) Co., Ltd, Self-operated Balancing Valve, Victaulic, Botou Valve Manufacturing Industry Co., Ltd., Wenzhou Ruici Valve Co. LTD, Shinjo Company, Dutco Tennant LLC, Uni Klinger and ThermOmegaTech, 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 Self-operated Balancing Valve, 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 Self-operated Balancing Valve.
The Self-operated Balancing Valve 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 Self-operated Balancing Valve 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 Self-operated Balancing Valve 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
Like Valve (TIANJIN) Co., Ltd
Self-operated Balancing Valve
Victaulic
Botou Valve Manufacturing Industry Co., Ltd.
Wenzhou Ruici Valve Co. LTD
Shinjo Company
Dutco Tennant LLC
Uni Klinger
ThermOmegaTech
OKorder
Shanghai QIGAO Valve Manufacturing Co. Ltd.
NuTech Hydronic Specialty Products
Segment by Type
Differential Pressure Self-operated Balancing Valve
Static
Dynamic
Segment by Application
Cooling Tower
Boiler
Heat Exchanger
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
United States
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 Self-operated Balancing Valve manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Production/output, value of Self-operated Balancing Valve 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 Self-operated Balancing Valve 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.

レポート目次

1 Self-operated Balancing Valve Market Overview
1.1 Product Definition
1.2 Self-operated Balancing Valve Segment by Type
1.2.1 Global Self-operated Balancing Valve Market Value Growth Rate Analysis by Type 2022 VS 2029
1.2.2 Differential Pressure Self-operated Balancing Valve
1.2.3 Static
1.2.4 Dynamic
1.3 Self-operated Balancing Valve Segment by Application
1.3.1 Global Self-operated Balancing Valve Market Value Growth Rate Analysis by Application: 2022 VS 2029
1.3.2 Cooling Tower
1.3.3 Boiler
1.3.4 Heat Exchanger
1.4 Global Market Growth Prospects
1.4.1 Global Self-operated Balancing Valve Production Value Estimates and Forecasts (2018-2029)
1.4.2 Global Self-operated Balancing Valve Production Capacity Estimates and Forecasts (2018-2029)
1.4.3 Global Self-operated Balancing Valve Production Estimates and Forecasts (2018-2029)
1.4.4 Global Self-operated Balancing Valve Market Average Price Estimates and Forecasts (2018-2029)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Self-operated Balancing Valve Production Market Share by Manufacturers (2018-2023)
2.2 Global Self-operated Balancing Valve Production Value Market Share by Manufacturers (2018-2023)
2.3 Global Key Players of Self-operated Balancing Valve, Industry Ranking, 2021 VS 2022 VS 2023
2.4 Global Self-operated Balancing Valve Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.5 Global Self-operated Balancing Valve Average Price by Manufacturers (2018-2023)
2.6 Global Key Manufacturers of Self-operated Balancing Valve, Manufacturing Base Distribution and Headquarters
2.7 Global Key Manufacturers of Self-operated Balancing Valve, Product Offered and Application
2.8 Global Key Manufacturers of Self-operated Balancing Valve, Date of Enter into This Industry
2.9 Self-operated Balancing Valve Market Competitive Situation and Trends
2.9.1 Self-operated Balancing Valve Market Concentration Rate
2.9.2 Global 5 and 10 Largest Self-operated Balancing Valve Players Market Share by Revenue
2.10 Mergers & Acquisitions, Expansion
3 Self-operated Balancing Valve Production by Region
3.1 Global Self-operated Balancing Valve Production Value Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
3.2 Global Self-operated Balancing Valve Production Value by Region (2018-2029)
3.2.1 Global Self-operated Balancing Valve Production Value Market Share by Region (2018-2023)
3.2.2 Global Forecasted Production Value of Self-operated Balancing Valve by Region (2024-2029)
3.3 Global Self-operated Balancing Valve Production Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
3.4 Global Self-operated Balancing Valve Production by Region (2018-2029)
3.4.1 Global Self-operated Balancing Valve Production Market Share by Region (2018-2023)
3.4.2 Global Forecasted Production of Self-operated Balancing Valve by Region (2024-2029)
3.5 Global Self-operated Balancing Valve Market Price Analysis by Region (2018-2023)
3.6 Global Self-operated Balancing Valve Production and Value, Year-over-Year Growth
3.6.1 North America Self-operated Balancing Valve Production Value Estimates and Forecasts (2018-2029)
3.6.2 Europe Self-operated Balancing Valve Production Value Estimates and Forecasts (2018-2029)
3.6.3 China Self-operated Balancing Valve Production Value Estimates and Forecasts (2018-2029)
3.6.4 Japan Self-operated Balancing Valve Production Value Estimates and Forecasts (2018-2029)
4 Self-operated Balancing Valve Consumption by Region
4.1 Global Self-operated Balancing Valve Consumption Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
4.2 Global Self-operated Balancing Valve Consumption by Region (2018-2029)
4.2.1 Global Self-operated Balancing Valve Consumption by Region (2018-2023)
4.2.2 Global Self-operated Balancing Valve Forecasted Consumption by Region (2024-2029)
4.3 North America
4.3.1 North America Self-operated Balancing Valve Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.3.2 North America Self-operated Balancing Valve Consumption by Country (2018-2029)
4.3.3 United States
4.3.4 Canada
4.4 Europe
4.4.1 Europe Self-operated Balancing Valve Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.4.2 Europe Self-operated Balancing Valve 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 Self-operated Balancing Valve Consumption Growth Rate by Region: 2018 VS 2022 VS 2029
4.5.2 Asia Pacific Self-operated Balancing Valve 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 Self-operated Balancing Valve Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
4.6.2 Latin America, Middle East & Africa Self-operated Balancing Valve Consumption by Country (2018-2029)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
5 Segment by Type
5.1 Global Self-operated Balancing Valve Production by Type (2018-2029)
5.1.1 Global Self-operated Balancing Valve Production by Type (2018-2023)
5.1.2 Global Self-operated Balancing Valve Production by Type (2024-2029)
5.1.3 Global Self-operated Balancing Valve Production Market Share by Type (2018-2029)
5.2 Global Self-operated Balancing Valve Production Value by Type (2018-2029)
5.2.1 Global Self-operated Balancing Valve Production Value by Type (2018-2023)
5.2.2 Global Self-operated Balancing Valve Production Value by Type (2024-2029)
5.2.3 Global Self-operated Balancing Valve Production Value Market Share by Type (2018-2029)
5.3 Global Self-operated Balancing Valve Price by Type (2018-2029)
6 Segment by Application
6.1 Global Self-operated Balancing Valve Production by Application (2018-2029)
6.1.1 Global Self-operated Balancing Valve Production by Application (2018-2023)
6.1.2 Global Self-operated Balancing Valve Production by Application (2024-2029)
6.1.3 Global Self-operated Balancing Valve Production Market Share by Application (2018-2029)
6.2 Global Self-operated Balancing Valve Production Value by Application (2018-2029)
6.2.1 Global Self-operated Balancing Valve Production Value by Application (2018-2023)
6.2.2 Global Self-operated Balancing Valve Production Value by Application (2024-2029)
6.2.3 Global Self-operated Balancing Valve Production Value Market Share by Application (2018-2029)
6.3 Global Self-operated Balancing Valve Price by Application (2018-2029)
7 Key Companies Profiled
7.1 Like Valve (TIANJIN) Co., Ltd
7.1.1 Like Valve (TIANJIN) Co., Ltd Self-operated Balancing Valve Corporation Information
7.1.2 Like Valve (TIANJIN) Co., Ltd Self-operated Balancing Valve Product Portfolio
7.1.3 Like Valve (TIANJIN) Co., Ltd Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.1.4 Like Valve (TIANJIN) Co., Ltd Main Business and Markets Served
7.1.5 Like Valve (TIANJIN) Co., Ltd Recent Developments/Updates
7.2 Self-operated Balancing Valve
7.2.1 Self-operated Balancing Valve Self-operated Balancing Valve Corporation Information
7.2.2 Self-operated Balancing Valve Self-operated Balancing Valve Product Portfolio
7.2.3 Self-operated Balancing Valve Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.2.4 Self-operated Balancing Valve Main Business and Markets Served
7.2.5 Self-operated Balancing Valve Recent Developments/Updates
7.3 Victaulic
7.3.1 Victaulic Self-operated Balancing Valve Corporation Information
7.3.2 Victaulic Self-operated Balancing Valve Product Portfolio
7.3.3 Victaulic Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.3.4 Victaulic Main Business and Markets Served
7.3.5 Victaulic Recent Developments/Updates
7.4 Botou Valve Manufacturing Industry Co., Ltd.
7.4.1 Botou Valve Manufacturing Industry Co., Ltd. Self-operated Balancing Valve Corporation Information
7.4.2 Botou Valve Manufacturing Industry Co., Ltd. Self-operated Balancing Valve Product Portfolio
7.4.3 Botou Valve Manufacturing Industry Co., Ltd. Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.4.4 Botou Valve Manufacturing Industry Co., Ltd. Main Business and Markets Served
7.4.5 Botou Valve Manufacturing Industry Co., Ltd. Recent Developments/Updates
7.5 Wenzhou Ruici Valve Co. LTD
7.5.1 Wenzhou Ruici Valve Co. LTD Self-operated Balancing Valve Corporation Information
7.5.2 Wenzhou Ruici Valve Co. LTD Self-operated Balancing Valve Product Portfolio
7.5.3 Wenzhou Ruici Valve Co. LTD Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.5.4 Wenzhou Ruici Valve Co. LTD Main Business and Markets Served
7.5.5 Wenzhou Ruici Valve Co. LTD Recent Developments/Updates
7.6 Shinjo Company
7.6.1 Shinjo Company Self-operated Balancing Valve Corporation Information
7.6.2 Shinjo Company Self-operated Balancing Valve Product Portfolio
7.6.3 Shinjo Company Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.6.4 Shinjo Company Main Business and Markets Served
7.6.5 Shinjo Company Recent Developments/Updates
7.7 Dutco Tennant LLC
7.7.1 Dutco Tennant LLC Self-operated Balancing Valve Corporation Information
7.7.2 Dutco Tennant LLC Self-operated Balancing Valve Product Portfolio
7.7.3 Dutco Tennant LLC Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.7.4 Dutco Tennant LLC Main Business and Markets Served
7.7.5 Dutco Tennant LLC Recent Developments/Updates
7.8 Uni Klinger
7.8.1 Uni Klinger Self-operated Balancing Valve Corporation Information
7.8.2 Uni Klinger Self-operated Balancing Valve Product Portfolio
7.8.3 Uni Klinger Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.8.4 Uni Klinger Main Business and Markets Served
7.7.5 Uni Klinger Recent Developments/Updates
7.9 ThermOmegaTech
7.9.1 ThermOmegaTech Self-operated Balancing Valve Corporation Information
7.9.2 ThermOmegaTech Self-operated Balancing Valve Product Portfolio
7.9.3 ThermOmegaTech Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.9.4 ThermOmegaTech Main Business and Markets Served
7.9.5 ThermOmegaTech Recent Developments/Updates
7.10 OKorder
7.10.1 OKorder Self-operated Balancing Valve Corporation Information
7.10.2 OKorder Self-operated Balancing Valve Product Portfolio
7.10.3 OKorder Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.10.4 OKorder Main Business and Markets Served
7.10.5 OKorder Recent Developments/Updates
7.11 Shanghai QIGAO Valve Manufacturing Co. Ltd.
7.11.1 Shanghai QIGAO Valve Manufacturing Co. Ltd. Self-operated Balancing Valve Corporation Information
7.11.2 Shanghai QIGAO Valve Manufacturing Co. Ltd. Self-operated Balancing Valve Product Portfolio
7.11.3 Shanghai QIGAO Valve Manufacturing Co. Ltd. Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.11.4 Shanghai QIGAO Valve Manufacturing Co. Ltd. Main Business and Markets Served
7.11.5 Shanghai QIGAO Valve Manufacturing Co. Ltd. Recent Developments/Updates
7.12 NuTech Hydronic Specialty Products
7.12.1 NuTech Hydronic Specialty Products Self-operated Balancing Valve Corporation Information
7.12.2 NuTech Hydronic Specialty Products Self-operated Balancing Valve Product Portfolio
7.12.3 NuTech Hydronic Specialty Products Self-operated Balancing Valve Production, Value, Price and Gross Margin (2018-2023)
7.12.4 NuTech Hydronic Specialty Products Main Business and Markets Served
7.12.5 NuTech Hydronic Specialty Products Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Self-operated Balancing Valve Industry Chain Analysis
8.2 Self-operated Balancing Valve Key Raw Materials
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Self-operated Balancing Valve Production Mode & Process
8.4 Self-operated Balancing Valve Sales and Marketing
8.4.1 Self-operated Balancing Valve Sales Channels
8.4.2 Self-operated Balancing Valve Distributors
8.5 Self-operated Balancing Valve Customers
9 Self-operated Balancing Valve Market Dynamics
9.1 Self-operated Balancing Valve Industry Trends
9.2 Self-operated Balancing Valve Market Drivers
9.3 Self-operated Balancing Valve Market Challenges
9.4 Self-operated Balancing Valve 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