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| 当調査レポートは次の情報を含め、世界の従来型電源ケーブル市場規模と予測を収録しています。・世界の従来型電源ケーブル市場：売上、2018年-2023年、2024年-2029年 ・世界の従来型電源ケーブル市場：販売量、2018年-2023年、2024年-2029年 ・世界のトップ5企業、2022年 世界の従来型電源ケーブル市場は2022年に000Mドルと評価され、予測期間中に000％のCAGRで2029年までに000Mドルに達すると予測されています。米国市場は2022年に000Mドルと推定されており、中国は2029年までに000Mドルに達すると予測されています。「低圧電力ケーブル」セグメントは今後6年間、000%のCAGRで2029年までに000Mドルに成長すると予測されています。 従来型電源ケーブルのグローバル主要企業は、Nexans、 Furukawa、 Southwire、 Leoni、 NKT、 KEI Industries、 Riyadh Cable、 Qingdao Hanhe Cable、 Jinlongyu Group、 Guangzhou Nanyang Cable Group、 Dongguan Minxing Cables、 Jiangsu Shangshang Cable Group、 Guangzhou Panyu Cable Group、 Guangzhou Cable Works、 Guangdong Xinyaguang Cableなどです。2022年にトップ5企業がグローバル売上シェアの約000%を占めています。 MARKET MONITOR GLOBAL（MMG）は、従来型電源ケーブルのメーカー、サプライヤー、流通業者、および業界の専門家を調査しました。これには、販売量、売上、需要、価格変動、製品タイプ、最近の動向と計画、産業トレンド、成長要因、課題、阻害要因、潜在的なリスクなどが含まれます。 【セグメント別市場分析】 世界の従来型電源ケーブル市場：タイプ別、2018年-2023年、2024年-2029年 世界の従来型電源ケーブル市場：タイプ別市場シェア、2022年 ・低圧電力ケーブル、中圧電力ケーブル、高圧電力ケーブル 世界の従来型電源ケーブル市場：用途別、2018年-2023年、2024年-2029年 世界の従来型電源ケーブル市場：用途別市場シェア、2022年 ・鉄道、電気自動車充電ステーション、国防エンジニアリング、その他 世界の従来型電源ケーブル市場：地域・国別、2018年-2023年、2024年-2029年 世界の従来型電源ケーブル市場：地域別市場シェア、2022年 ・北米：アメリカ、カナダ、メキシコ ・ヨーロッパ：ドイツ、フランス、イギリス、イタリア、ロシア ・アジア：中国、日本、韓国、東南アジア、インド ・南米：ブラジル、アルゼンチン ・中東・アフリカ：トルコ、イスラエル、サウジアラビア、UAE 【競合分析】 また、当レポートは主要な市場参加者の分析を提供します。 ・主要企業における従来型電源ケーブルのグローバル売上、2018年-2023年 ・主要企業における従来型電源ケーブルのグローバル売上シェア、2022年 ・主要企業における従来型電源ケーブルのグローバル販売量、2018年-2023年 ・主要企業における従来型電源ケーブルのグローバル販売量シェア、2022年 さらに、当レポートは主要企業のプロファイルを提示します。 Nexans、 Furukawa、 Southwire、 Leoni、 NKT、 KEI Industries、 Riyadh Cable、 Qingdao Hanhe Cable、 Jinlongyu Group、 Guangzhou Nanyang Cable Group、 Dongguan Minxing Cables、 Jiangsu Shangshang Cable Group、 Guangzhou Panyu Cable Group、 Guangzhou Cable Works、 Guangdong Xinyaguang Cable ************************************************************* ・調査・分析レポートの概要 従来型電源ケーブル市場の定義 市場セグメント 世界の従来型電源ケーブル市場概要 当レポートの特徴・ベネフィット 調査手法と情報源 ・世界の従来型電源ケーブル市場規模 世界の従来型電源ケーブル市場規模：2022年 VS 2029年 世界の従来型電源ケーブル市場規模と予測 2018年-2029年 ・競争状況 グローバルトップ企業 売上ベースでのグローバルトップ企業 企業別グローバルでの従来型電源ケーブルの売上 グローバルトップ3およびトップ5企業、2022年売上ベース グローバル企業の従来型電源ケーブル製品タイプ グローバルにおけるティア1、ティア2、ティア3企業 ・タイプ別市場分析 タイプ区分：低圧電力ケーブル、中圧電力ケーブル、高圧電力ケーブル 従来型電源ケーブルのタイプ別グローバル売上・予測 ・用途別市場分析 用途区分：鉄道、電気自動車充電ステーション、国防エンジニアリング、その他 従来型電源ケーブルの用途別グローバル売上・予測 ・地域別市場分析 地域別従来型電源ケーブル市場規模 2022年と2029年 地域別従来型電源ケーブル売上・予測 北米市場：アメリカ、カナダ、メキシコ ヨーロッパ市場：ドイツ、フランス、イギリス、イタリア、ロシア アジア市場：中国、日本、韓国、東南アジア、インド 南米市場：ブラジル、アルゼンチン 中東・アフリカ市場：トルコ、イスラエル、サウジアラビア、UAE ・主要企業のプロファイル（企業概要、事業概要、主要製品、売上、ニュースなど） Nexans、 Furukawa、 Southwire、 Leoni、 NKT、 KEI Industries、 Riyadh Cable、 Qingdao Hanhe Cable、 Jinlongyu Group、 Guangzhou Nanyang Cable Group、 Dongguan Minxing Cables、 Jiangsu Shangshang Cable Group、 Guangzhou Panyu Cable Group、 Guangzhou Cable Works、 Guangdong Xinyaguang Cable ... |
This research report provides a comprehensive analysis of the Conventional Power Cable market, focusing on the current trends, market dynamics, and future prospects. The report explores the global Conventional Power Cable market, including major regions such as North America, Europe, Asia-Pacific, and emerging markets. It also examines key factors driving the growth of Conventional Power Cable, challenges faced by the industry, and potential opportunities for market players.
The global Conventional Power Cable market has witnessed rapid growth in recent years, driven by increasing environmental concerns, government incentives, and advancements in technology. The Conventional Power Cable market presents opportunities for various stakeholders, including Rail, Electric Vehicle Charging Station. Collaboration between the private sector and governments can accelerate the development of supportive policies, research and development efforts, and investment in Conventional Power Cable market. Additionally, the growing consumer demand present avenues for market expansion.
The global Conventional Power Cable market was valued at US$ million in 2022 and is projected to reach US$ million by 2029, at a CAGR of % during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Key Features:
The research report on the Conventional Power Cable market includes several key features to provide comprehensive insights and facilitate decision-making for stakeholders.
Executive Summary: The report provides overview of the key findings, market trends, and major insights of the Conventional Power Cable market.
Market Overview: The report provides a comprehensive overview of the Conventional Power Cable market, including its definition, historical development, and current market size. It covers market segmentation by Type (e.g., Low Voltage Power Cable, Medium Voltage Power Cable), region, and application, highlighting the key drivers, challenges, and opportunities within each segment.
Market Dynamics: The report analyses the market dynamics driving the growth and development of the Conventional Power Cable market. The report includes an assessment of government policies and regulations, technological advancements, consumer trends and preferences, infrastructure development, and industry collaborations. This analysis helps stakeholders understand the factors influencing the Conventional Power Cable market’s trajectory.
Competitive Landscape: The report provides an in-depth analysis of the competitive landscape within the Conventional Power Cable market. It includes profiles of major market players, their market share, strategies, product portfolios, and recent developments.
Market Segmentation and Forecast: The report segment the Conventional Power Cable market based on various parameters, such as by Type, region, and by Application. It provides market size and growth forecasts for each segment, supported by quantitative data and analysis. This helps stakeholders identify growth opportunities and make informed investment decisions.
Technological Trends: The report should highlight the key technological trends shaping the Conventional Power Cable market, such as advancements in Type One technology and emerging substitutes. It analyses the impact of these trends on market growth, adoption rates, and consumer preferences.
Market Challenges and Opportunities: The report identify and analyses the major challenges faced by the Conventional Power Cable market, such as technical bottleneck, cost limitations, and high entry barrier. It also highlights the opportunities for market growth, such as government incentives, emerging markets, and collaborations between stakeholders.
Regulatory and Policy Analysis: The report should assess the regulatory and policy landscape for Conventional Power Cable, including government incentives, emission standards, and infrastructure development plans. It should analyse the impact of these policies on market growth and provide insights into future regulatory developments.
Recommendations and Conclusion: The report conclude with actionable recommendations for stakeholders, such as Application One Consumer, policymakers, investors, and infrastructure providers. These recommendations should be based on the research findings and address key challenges and opportunities within the Conventional Power Cable market.
Supporting Data and Appendices: The report include supporting data, charts, and graphs to substantiate the analysis and findings. It also includes appendices with additional detailed information, such as data sources, survey questionnaires, and detailed market forecasts.
Market Segmentation
Conventional Power Cable market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Market segment by Type
Low Voltage Power Cable
Medium Voltage Power Cable
High Voltage Power Cable
Market segment by Application
Rail
Electric Vehicle Charging Station
National Defense Engineering
Other
Global Conventional Power Cable Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Major players covered
Nexans
Furukawa
Southwire
Leoni
NKT
KEI Industries
Riyadh Cable
Qingdao Hanhe Cable
Jinlongyu Group
Guangzhou Nanyang Cable Group
Dongguan Minxing Cables
Jiangsu Shangshang Cable Group
Guangzhou Panyu Cable Group
Guangzhou Cable Works
Guangdong Xinyaguang Cable
Outline of Major Chapters:
Chapter 1: Introduces the definition of Conventional Power Cable, market overview.
Chapter 2: Global Conventional Power Cable market size in revenue and volume.
Chapter 3: Detailed analysis of Conventional Power Cable manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: 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 5: 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 6: Sales of Conventional Power Cable 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 of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Conventional Power Cable capacity by region & country.
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: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
1 Introduction to Research & Analysis Reports
1.1 Conventional Power Cable Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Conventional Power Cable Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Conventional Power Cable Overall Market Size
2.1 Global Conventional Power Cable Market Size: 2022 VS 2029
2.2 Global Conventional Power Cable Revenue, Prospects & Forecasts: 2018-2029
2.3 Global Conventional Power Cable Sales: 2018-2029
3 Company Landscape
3.1 Top Conventional Power Cable Players in Global Market
3.2 Top Global Conventional Power Cable Companies Ranked by Revenue
3.3 Global Conventional Power Cable Revenue by Companies
3.4 Global Conventional Power Cable Sales by Companies
3.5 Global Conventional Power Cable Price by Manufacturer (2018-2023)
3.6 Top 3 and Top 5 Conventional Power Cable Companies in Global Market, by Revenue in 2022
3.7 Global Manufacturers Conventional Power Cable Product Type
3.8 Tier 1, Tier 2 and Tier 3 Conventional Power Cable Players in Global Market
3.8.1 List of Global Tier 1 Conventional Power Cable Companies
3.8.2 List of Global Tier 2 and Tier 3 Conventional Power Cable Companies
4 Sights by Product
4.1 Overview
4.1.1 By Type – Global Conventional Power Cable Market Size Markets, 2022 & 2029
4.1.2 Low Voltage Power Cable
4.1.3 Medium Voltage Power Cable
4.1.4 High Voltage Power Cable
4.2 By Type – Global Conventional Power Cable Revenue & Forecasts
4.2.1 By Type – Global Conventional Power Cable Revenue, 2018-2023
4.2.2 By Type – Global Conventional Power Cable Revenue, 2024-2029
4.2.3 By Type – Global Conventional Power Cable Revenue Market Share, 2018-2029
4.3 By Type – Global Conventional Power Cable Sales & Forecasts
4.3.1 By Type – Global Conventional Power Cable Sales, 2018-2023
4.3.2 By Type – Global Conventional Power Cable Sales, 2024-2029
4.3.3 By Type – Global Conventional Power Cable Sales Market Share, 2018-2029
4.4 By Type – Global Conventional Power Cable Price (Manufacturers Selling Prices), 2018-2029
5 Sights by Application
5.1 Overview
5.1.1 By Application – Global Conventional Power Cable Market Size, 2022 & 2029
5.1.2 Rail
5.1.3 Electric Vehicle Charging Station
5.1.4 National Defense Engineering
5.1.5 Other
5.2 By Application – Global Conventional Power Cable Revenue & Forecasts
5.2.1 By Application – Global Conventional Power Cable Revenue, 2018-2023
5.2.2 By Application – Global Conventional Power Cable Revenue, 2024-2029
5.2.3 By Application – Global Conventional Power Cable Revenue Market Share, 2018-2029
5.3 By Application – Global Conventional Power Cable Sales & Forecasts
5.3.1 By Application – Global Conventional Power Cable Sales, 2018-2023
5.3.2 By Application – Global Conventional Power Cable Sales, 2024-2029
5.3.3 By Application – Global Conventional Power Cable Sales Market Share, 2018-2029
5.4 By Application – Global Conventional Power Cable Price (Manufacturers Selling Prices), 2018-2029
6 Sights by Region
6.1 By Region – Global Conventional Power Cable Market Size, 2022 & 2029
6.2 By Region – Global Conventional Power Cable Revenue & Forecasts
6.2.1 By Region – Global Conventional Power Cable Revenue, 2018-2023
6.2.2 By Region – Global Conventional Power Cable Revenue, 2024-2029
6.2.3 By Region – Global Conventional Power Cable Revenue Market Share, 2018-2029
6.3 By Region – Global Conventional Power Cable Sales & Forecasts
6.3.1 By Region – Global Conventional Power Cable Sales, 2018-2023
6.3.2 By Region – Global Conventional Power Cable Sales, 2024-2029
6.3.3 By Region – Global Conventional Power Cable Sales Market Share, 2018-2029
6.4 North America
6.4.1 By Country – North America Conventional Power Cable Revenue, 2018-2029
6.4.2 By Country – North America Conventional Power Cable Sales, 2018-2029
6.4.3 US Conventional Power Cable Market Size, 2018-2029
6.4.4 Canada Conventional Power Cable Market Size, 2018-2029
6.4.5 Mexico Conventional Power Cable Market Size, 2018-2029
6.5 Europe
6.5.1 By Country – Europe Conventional Power Cable Revenue, 2018-2029
6.5.2 By Country – Europe Conventional Power Cable Sales, 2018-2029
6.5.3 Germany Conventional Power Cable Market Size, 2018-2029
6.5.4 France Conventional Power Cable Market Size, 2018-2029
6.5.5 U.K. Conventional Power Cable Market Size, 2018-2029
6.5.6 Italy Conventional Power Cable Market Size, 2018-2029
6.5.7 Russia Conventional Power Cable Market Size, 2018-2029
6.5.8 Nordic Countries Conventional Power Cable Market Size, 2018-2029
6.5.9 Benelux Conventional Power Cable Market Size, 2018-2029
6.6 Asia
6.6.1 By Region – Asia Conventional Power Cable Revenue, 2018-2029
6.6.2 By Region – Asia Conventional Power Cable Sales, 2018-2029
6.6.3 China Conventional Power Cable Market Size, 2018-2029
6.6.4 Japan Conventional Power Cable Market Size, 2018-2029
6.6.5 South Korea Conventional Power Cable Market Size, 2018-2029
6.6.6 Southeast Asia Conventional Power Cable Market Size, 2018-2029
6.6.7 India Conventional Power Cable Market Size, 2018-2029
6.7 South America
6.7.1 By Country – South America Conventional Power Cable Revenue, 2018-2029
6.7.2 By Country – South America Conventional Power Cable Sales, 2018-2029
6.7.3 Brazil Conventional Power Cable Market Size, 2018-2029
6.7.4 Argentina Conventional Power Cable Market Size, 2018-2029
6.8 Middle East & Africa
6.8.1 By Country – Middle East & Africa Conventional Power Cable Revenue, 2018-2029
6.8.2 By Country – Middle East & Africa Conventional Power Cable Sales, 2018-2029
6.8.3 Turkey Conventional Power Cable Market Size, 2018-2029
6.8.4 Israel Conventional Power Cable Market Size, 2018-2029
6.8.5 Saudi Arabia Conventional Power Cable Market Size, 2018-2029
6.8.6 UAE Conventional Power Cable Market Size, 2018-2029
7 Manufacturers & Brands Profiles
7.1 Nexans
7.1.1 Nexans Company Summary
7.1.2 Nexans Business Overview
7.1.3 Nexans Conventional Power Cable Major Product Offerings
7.1.4 Nexans Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.1.5 Nexans Key News & Latest Developments
7.2 Furukawa
7.2.1 Furukawa Company Summary
7.2.2 Furukawa Business Overview
7.2.3 Furukawa Conventional Power Cable Major Product Offerings
7.2.4 Furukawa Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.2.5 Furukawa Key News & Latest Developments
7.3 Southwire
7.3.1 Southwire Company Summary
7.3.2 Southwire Business Overview
7.3.3 Southwire Conventional Power Cable Major Product Offerings
7.3.4 Southwire Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.3.5 Southwire Key News & Latest Developments
7.4 Leoni
7.4.1 Leoni Company Summary
7.4.2 Leoni Business Overview
7.4.3 Leoni Conventional Power Cable Major Product Offerings
7.4.4 Leoni Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.4.5 Leoni Key News & Latest Developments
7.5 NKT
7.5.1 NKT Company Summary
7.5.2 NKT Business Overview
7.5.3 NKT Conventional Power Cable Major Product Offerings
7.5.4 NKT Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.5.5 NKT Key News & Latest Developments
7.6 KEI Industries
7.6.1 KEI Industries Company Summary
7.6.2 KEI Industries Business Overview
7.6.3 KEI Industries Conventional Power Cable Major Product Offerings
7.6.4 KEI Industries Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.6.5 KEI Industries Key News & Latest Developments
7.7 Riyadh Cable
7.7.1 Riyadh Cable Company Summary
7.7.2 Riyadh Cable Business Overview
7.7.3 Riyadh Cable Conventional Power Cable Major Product Offerings
7.7.4 Riyadh Cable Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.7.5 Riyadh Cable Key News & Latest Developments
7.8 Qingdao Hanhe Cable
7.8.1 Qingdao Hanhe Cable Company Summary
7.8.2 Qingdao Hanhe Cable Business Overview
7.8.3 Qingdao Hanhe Cable Conventional Power Cable Major Product Offerings
7.8.4 Qingdao Hanhe Cable Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.8.5 Qingdao Hanhe Cable Key News & Latest Developments
7.9 Jinlongyu Group
7.9.1 Jinlongyu Group Company Summary
7.9.2 Jinlongyu Group Business Overview
7.9.3 Jinlongyu Group Conventional Power Cable Major Product Offerings
7.9.4 Jinlongyu Group Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.9.5 Jinlongyu Group Key News & Latest Developments
7.10 Guangzhou Nanyang Cable Group
7.10.1 Guangzhou Nanyang Cable Group Company Summary
7.10.2 Guangzhou Nanyang Cable Group Business Overview
7.10.3 Guangzhou Nanyang Cable Group Conventional Power Cable Major Product Offerings
7.10.4 Guangzhou Nanyang Cable Group Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.10.5 Guangzhou Nanyang Cable Group Key News & Latest Developments
7.11 Dongguan Minxing Cables
7.11.1 Dongguan Minxing Cables Company Summary
7.11.2 Dongguan Minxing Cables Business Overview
7.11.3 Dongguan Minxing Cables Conventional Power Cable Major Product Offerings
7.11.4 Dongguan Minxing Cables Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.11.5 Dongguan Minxing Cables Key News & Latest Developments
7.12 Jiangsu Shangshang Cable Group
7.12.1 Jiangsu Shangshang Cable Group Company Summary
7.12.2 Jiangsu Shangshang Cable Group Business Overview
7.12.3 Jiangsu Shangshang Cable Group Conventional Power Cable Major Product Offerings
7.12.4 Jiangsu Shangshang Cable Group Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.12.5 Jiangsu Shangshang Cable Group Key News & Latest Developments
7.13 Guangzhou Panyu Cable Group
7.13.1 Guangzhou Panyu Cable Group Company Summary
7.13.2 Guangzhou Panyu Cable Group Business Overview
7.13.3 Guangzhou Panyu Cable Group Conventional Power Cable Major Product Offerings
7.13.4 Guangzhou Panyu Cable Group Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.13.5 Guangzhou Panyu Cable Group Key News & Latest Developments
7.14 Guangzhou Cable Works
7.14.1 Guangzhou Cable Works Company Summary
7.14.2 Guangzhou Cable Works Business Overview
7.14.3 Guangzhou Cable Works Conventional Power Cable Major Product Offerings
7.14.4 Guangzhou Cable Works Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.14.5 Guangzhou Cable Works Key News & Latest Developments
7.15 Guangdong Xinyaguang Cable
7.15.1 Guangdong Xinyaguang Cable Company Summary
7.15.2 Guangdong Xinyaguang Cable Business Overview
7.15.3 Guangdong Xinyaguang Cable Conventional Power Cable Major Product Offerings
7.15.4 Guangdong Xinyaguang Cable Conventional Power Cable Sales and Revenue in Global (2018-2023)
7.15.5 Guangdong Xinyaguang Cable Key News & Latest Developments
8 Global Conventional Power Cable Production Capacity, Analysis
8.1 Global Conventional Power Cable Production Capacity, 2018-2029
8.2 Conventional Power Cable Production Capacity of Key Manufacturers in Global Market
8.3 Global Conventional Power Cable Production by Region
9 Key Market Trends, Opportunity, Drivers and Restraints
9.1 Market Opportunities & Trends
9.2 Market Drivers
9.3 Market Restraints
10 Conventional Power Cable Supply Chain Analysis
10.1 Conventional Power Cable Industry Value Chain
10.2 Conventional Power Cable Upstream Market
10.3 Conventional Power Cable Downstream and Clients
10.4 Marketing Channels Analysis
10.4.1 Marketing Channels
10.4.2 Conventional Power Cable Distributors and Sales Agents in Global
11 Conclusion
12 Appendix
12.1 Note
12.2 Examples of Clients
12.3 Disclaimer