 | • レポートコード：MRC309Z3755 • 出版社/出版日：GlobalInfoResearch / 2023年9月20日 • レポート形態：英文、PDF、107ページ • 納品方法：Eメール（2-3営業日） • 産業分類：機械&装置 |
| Single User | ￥522,000 (USD3,480) | ▷ お問い合わせ |
| Corporate User | ￥1,044,000 (USD6,960) | ▷ お問い合わせ |
• お支払方法：銀行振込（納品後、ご請求書送付）
レポート概要
| GlobalInfoResearchの最新の調査によると、世界のトウモロコシ茎グラインダーの市場規模は2022年のxxx米ドルから2029年にはxxx米ドルと推定され、xxx％の成長率で成長すると予想されます。新型コロナウイルス感染症とロシア・ウクライナ戦争の影響を考慮しながら市場規模を推計しました。 このレポートは、世界のトウモロコシ茎グラインダー市場に関する詳細かつ包括的な分析の結果です。定量的分析と定性的分析データが、メーカー別、地域別、国別、種類別、用途別に記載されています。 市場は常に変化しているため、本レポートでは、競争、需要と供給の傾向、および多くの市場にわたる需要の変化に影響する主要な要因を調査しました。主要な競合他社の企業概要と製品例、および2023年の市場シェア予測も記載しました。 本レポートの主な目的は次のとおりです。 - 世界および主要国の市場機会の規模を決定するため - トウモロコシ茎グラインダーの成長可能性を評価するため - 各製品および最終用途市場の将来の成長を予測するため - 市場に影響を与える競争要因を評価するため トウモロコシ茎グラインダー市場は種類と用途によって区分されます。2018年～2029年において、量と金額の観点から種類別および用途別セグメントの売上予測データを提供します。この分析は、適格なニッチ市場をターゲットにすることでビジネスを拡大するのに役立ちます。 種類別セグメント ・固定型、移動型 用途別セグメント ・農業公園、飼料工場 主要な市場プレーヤー ・Straw Shredder、MOCO、Changshu Shouyu Machinery Co.,Ltd、GEP ECOTECH CO., LTD.、Nardid Machines、Zibo United Tech Machinery、Aneie Astechno Private Limited、KS AGROTECH PVT.LTD.、Jiangyin HANLV Machinery Equipment Co.,Ltd、Asket 地域別セグメントは次の地域・国をカバーします。 ・北米（米国、カナダ、メキシコ） ・ヨーロッパ（ドイツ、フランス、イギリス、ロシア、イタリア） ・アジア太平洋（日本、中国、韓国、インド、東南アジア、オーストラリア） ・南アメリカ（ブラジル、アルゼンチン、コロンビア） ・中東およびアフリカ（サウジアラビア、UAE、エジプト、南アフリカ） 本調査レポートの内容は計15章あります。 ・第1章では、トウモロコシ茎グラインダー製品の調査範囲、市場の概要、市場の成長要因・阻害要因、および市場動向について説明します。 ・第2章では、主要なトウモロコシ茎グラインダーメーカーの企業概要、2019年～2022年までのトウモロコシ茎グラインダーの価格、販売量、売上、市場シェアを掲載しています。 ・第3章では、主要なトウモロコシ茎グラインダーメーカーの競争状況、販売量、売上、世界市場シェアが重点的に比較分析されています。 ・第4章では、2018年～2029年までの地域別トウモロコシ茎グラインダーの販売量、売上、成長性を示しています。 ・第5、6章では、2018年～2029年までのトウモロコシ茎グラインダーの種類別と用途別の市場規模、市場シェアと成長率を掲載しています。 ・第7、8、9、10、11章では、2018年～2022年までの世界の主要国での販売量、売上、市場シェア、並びに2023年～2029年までの主要地域でのトウモロコシ茎グラインダー市場予測を収録しています。 ・第12章では、市場力学、成長要因、阻害要因、トレンド、ポーターズファイブフォース分析、新型コロナウイルス感染症とロシア・ウクライナ戦争の影響を掲載しています。 ・第13章では、主要な原材料、主要なサプライヤー、およびトウモロコシ茎グラインダーの産業チェーンを掲載しています。 ・第14、15章では、トウモロコシ茎グラインダーの販売チャネル、販売業者、顧客、調査結果について説明します。 ***** 目次(一部) ***** ・市場概要 - トウモロコシ茎グラインダーの概要 - 種類別分析（2018年vs2022年vs2029年）：固定型、移動型 - 用途別分析（2018年vs2022年vs2029年）：農業公園、飼料工場 - 世界のトウモロコシ茎グラインダー市場規模・予測 - 世界のトウモロコシ茎グラインダー生産能力分析 - 市場の成長要因・阻害要因・動向 ・メーカー情報（企業概要、製品概要、販売量、価格、売上） - Straw Shredder、MOCO、Changshu Shouyu Machinery Co.,Ltd、GEP ECOTECH CO., LTD.、Nardid Machines、Zibo United Tech Machinery、Aneie Astechno Private Limited、KS AGROTECH PVT.LTD.、Jiangyin HANLV Machinery Equipment Co.,Ltd、Asket ・メーカー別市場シェア・市場集中度 ・地域別市場分析2018年-2029年 ・種類別分析2018年-2029年：固定型、移動型 ・用途別分析2018年-2029年：農業公園、飼料工場 ・トウモロコシ茎グラインダーの北米市場 - 種類別市場規模2018年-2029年 - 用途別市場規模2018年-2029年 - 主要国別市場規模：アメリカ、カナダ、メキシコなど ・トウモロコシ茎グラインダーのヨーロッパ市場 - 種類別市場規模2018年-2029年 - 用途別市場規模2018年-2029年 - 主要国別市場規模：ドイツ、イギリス、フランス、ロシア、イタリアなど ・トウモロコシ茎グラインダーのアジア市場 - 種類別市場規模2018年-2029年 - 用途別市場規模2018年-2029年 - 主要国別市場規模：中国、日本、韓国、インド、東南アジア、オーストラリアなど ・トウモロコシ茎グラインダーの南米市場 - 種類別市場規模2018年-2029年 - 用途別市場規模2018年-2029年 - 主要国別市場規模：ブラジル、アルゼンチンなど ・トウモロコシ茎グラインダーの中東・アフリカ市場 - 種類別市場規模2018年-2029年 - 用途別市場規模2018年-2029年 - 主要国別市場規模：サウジアラビア、トルコ、エジプト、南アフリカなど ・市場力学（成長要因、阻害要因、トレンド、ポーターズファイブフォース分析） ・原材料および産業チェーン ・販売チャネル、流通業者・代理店、顧客リスト ・調査の結果・結論 |
According to our (Global Info Research) latest study, the global Corn Stalk Grinder market size was valued at USD million in 2022 and is forecast to a readjusted size of USD million by 2029 with a CAGR of % during review period.
The straw pulverizer is mainly used for the chopping of plant straws such as crop straws and branches with a diameter of less than 5CM, and can also be used for chopping of various crop straws and pastures. The whole set of equipment is mainly used for the shredding and processing of cotton stalk, bark, branches, corn stalk, wheat stalk, straw and other biomass.
The Global Info Research report includes an overview of the development of the Corn Stalk Grinder industry chain, the market status of Agricultural Park (Fixed, Mobile), Feed Mill (Fixed, Mobile), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Corn Stalk Grinder.
Regionally, the report analyzes the Corn Stalk Grinder markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Corn Stalk Grinder market, with robust domestic demand, supportive policies, and a strong manufacturing base.
Key Features:
The report presents comprehensive understanding of the Corn Stalk Grinder market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Corn Stalk Grinder industry.
The report involves analyzing the market at a macro level:
Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (K Units), revenue generated, and market share of different by Type (e.g., Fixed, Mobile).
Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Corn Stalk Grinder market.
Regional Analysis: The report involves examining the Corn Stalk Grinder market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.
Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Corn Stalk Grinder market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.
The report also involves a more granular approach to Corn Stalk Grinder:
Company Analysis: Report covers individual Corn Stalk Grinder manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.
Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Corn Stalk Grinder This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Agricultural Park, Feed Mill).
Technology Analysis: Report covers specific technologies relevant to Corn Stalk Grinder. It assesses the current state, advancements, and potential future developments in Corn Stalk Grinder areas.
Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Corn Stalk Grinder market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.
Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.
Market Segmentation
Corn Stalk Grinder 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
Fixed
Mobile
Market segment by Application
Agricultural Park
Feed Mill
Major players covered
Straw Shredder
MOCO
Changshu Shouyu Machinery Co.,Ltd
GEP ECOTECH CO., LTD.
Nardid Machines
Zibo United Tech Machinery
Aneie Astechno Private Limited
KS AGROTECH PVT.LTD.
Jiangyin HANLV Machinery Equipment Co.,Ltd
Asket
Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Corn Stalk Grinder product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Corn Stalk Grinder, with price, sales, revenue and global market share of Corn Stalk Grinder from 2018 to 2023.
Chapter 3, the Corn Stalk Grinder competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Corn Stalk Grinder breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2018 to 2029.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2018 to 2029.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2022.and Corn Stalk Grinder market forecast, by regions, type and application, with sales and revenue, from 2024 to 2029.
Chapter 12, market dynamics, drivers, restraints, trends, Porters Five Forces analysis, and Influence of COVID-19 and Russia-Ukraine War.
Chapter 13, the key raw materials and key suppliers, and industry chain of Corn Stalk Grinder.
Chapter 14 and 15, to describe Corn Stalk Grinder sales channel, distributors, customers, research findings and conclusion.
1 Market Overview
1.1 Product Overview and Scope of Corn Stalk Grinder
1.2 Market Estimation Caveats and Base Year
1.3 Market Analysis by Type
1.3.1 Overview: Global Corn Stalk Grinder Consumption Value by Type: 2018 Versus 2022 Versus 2029
1.3.2 Fixed
1.3.3 Mobile
1.4 Market Analysis by Application
1.4.1 Overview: Global Corn Stalk Grinder Consumption Value by Application: 2018 Versus 2022 Versus 2029
1.4.2 Agricultural Park
1.4.3 Feed Mill
1.5 Global Corn Stalk Grinder Market Size & Forecast
1.5.1 Global Corn Stalk Grinder Consumption Value (2018 & 2022 & 2029)
1.5.2 Global Corn Stalk Grinder Sales Quantity (2018-2029)
1.5.3 Global Corn Stalk Grinder Average Price (2018-2029)
2 Manufacturers Profiles
2.1 Straw Shredder
2.1.1 Straw Shredder Details
2.1.2 Straw Shredder Major Business
2.1.3 Straw Shredder Corn Stalk Grinder Product and Services
2.1.4 Straw Shredder Corn Stalk Grinder Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2018-2023)
2.1.5 Straw Shredder Recent Developments/Updates
2.2 MOCO
2.2.1 MOCO Details
2.2.2 MOCO Major Business
2.2.3 MOCO Corn Stalk Grinder Product and Services
2.2.4 MOCO Corn Stalk Grinder Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2018-2023)
2.2.5 MOCO Recent Developments/Updates
2.3 Changshu Shouyu Machinery Co.,Ltd
2.3.1 Changshu Shouyu Machinery Co.,Ltd Details
2.3.2 Changshu Shouyu Machinery Co.,Ltd Major Business
2.3.3 Changshu Shouyu Machinery Co.,Ltd Corn Stalk Grinder Product and Services
2.3.4 Changshu Shouyu Machinery Co.,Ltd Corn Stalk Grinder Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2018-2023)
2.3.5 Changshu Shouyu Machinery Co.,Ltd Recent Developments/Updates
2.4 GEP ECOTECH CO., LTD.
2.4.1 GEP ECOTECH CO., LTD. Details
2.4.2 GEP ECOTECH CO., LTD. Major Business
2.4.3 GEP ECOTECH CO., LTD. Corn Stalk Grinder Product and Services
2.4.4 GEP ECOTECH CO., LTD. Corn Stalk Grinder Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2018-2023)
2.4.5 GEP ECOTECH CO., LTD. Recent Developments/Updates
2.5 Nardid Machines
2.5.1 Nardid Machines Details
2.5.2 Nardid Machines Major Business
2.5.3 Nardid Machines Corn Stalk Grinder Product and Services
2.5.4 Nardid Machines Corn Stalk Grinder Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2018-2023)
2.5.5 Nardid Machines Recent Developments/Updates
2.6 Zibo United Tech Machinery
2.6.1 Zibo United Tech Machinery Details
2.6.2 Zibo United Tech Machinery Major Business
2.6.3 Zibo United Tech Machinery Corn Stalk Grinder Product and Services
2.6.4 Zibo United Tech Machinery Corn Stalk Grinder Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2018-2023)
2.6.5 Zibo United Tech Machinery Recent Developments/Updates
2.7 Aneie Astechno Private Limited
2.7.1 Aneie Astechno Private Limited Details
2.7.2 Aneie Astechno Private Limited Major Business
2.7.3 Aneie Astechno Private Limited Corn Stalk Grinder Product and Services
2.7.4 Aneie Astechno Private Limited Corn Stalk Grinder Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2018-2023)
2.7.5 Aneie Astechno Private Limited Recent Developments/Updates
2.8 KS AGROTECH PVT.LTD.
2.8.1 KS AGROTECH PVT.LTD. Details
2.8.2 KS AGROTECH PVT.LTD. Major Business
2.8.3 KS AGROTECH PVT.LTD. Corn Stalk Grinder Product and Services
2.8.4 KS AGROTECH PVT.LTD. Corn Stalk Grinder Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2018-2023)
2.8.5 KS AGROTECH PVT.LTD. Recent Developments/Updates
2.9 Jiangyin HANLV Machinery Equipment Co.,Ltd
2.9.1 Jiangyin HANLV Machinery Equipment Co.,Ltd Details
2.9.2 Jiangyin HANLV Machinery Equipment Co.,Ltd Major Business
2.9.3 Jiangyin HANLV Machinery Equipment Co.,Ltd Corn Stalk Grinder Product and Services
2.9.4 Jiangyin HANLV Machinery Equipment Co.,Ltd Corn Stalk Grinder Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2018-2023)
2.9.5 Jiangyin HANLV Machinery Equipment Co.,Ltd Recent Developments/Updates
2.10 Asket
2.10.1 Asket Details
2.10.2 Asket Major Business
2.10.3 Asket Corn Stalk Grinder Product and Services
2.10.4 Asket Corn Stalk Grinder Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2018-2023)
2.10.5 Asket Recent Developments/Updates
3 Competitive Environment: Corn Stalk Grinder by Manufacturer
3.1 Global Corn Stalk Grinder Sales Quantity by Manufacturer (2018-2023)
3.2 Global Corn Stalk Grinder Revenue by Manufacturer (2018-2023)
3.3 Global Corn Stalk Grinder Average Price by Manufacturer (2018-2023)
3.4 Market Share Analysis (2022)
3.4.1 Producer Shipments of Corn Stalk Grinder by Manufacturer Revenue ($MM) and Market Share (%): 2022
3.4.2 Top 3 Corn Stalk Grinder Manufacturer Market Share in 2022
3.4.2 Top 6 Corn Stalk Grinder Manufacturer Market Share in 2022
3.5 Corn Stalk Grinder Market: Overall Company Footprint Analysis
3.5.1 Corn Stalk Grinder Market: Region Footprint
3.5.2 Corn Stalk Grinder Market: Company Product Type Footprint
3.5.3 Corn Stalk Grinder Market: Company Product Application Footprint
3.6 New Market Entrants and Barriers to Market Entry
3.7 Mergers, Acquisition, Agreements, and Collaborations
4 Consumption Analysis by Region
4.1 Global Corn Stalk Grinder Market Size by Region
4.1.1 Global Corn Stalk Grinder Sales Quantity by Region (2018-2029)
4.1.2 Global Corn Stalk Grinder Consumption Value by Region (2018-2029)
4.1.3 Global Corn Stalk Grinder Average Price by Region (2018-2029)
4.2 North America Corn Stalk Grinder Consumption Value (2018-2029)
4.3 Europe Corn Stalk Grinder Consumption Value (2018-2029)
4.4 Asia-Pacific Corn Stalk Grinder Consumption Value (2018-2029)
4.5 South America Corn Stalk Grinder Consumption Value (2018-2029)
4.6 Middle East and Africa Corn Stalk Grinder Consumption Value (2018-2029)
5 Market Segment by Type
5.1 Global Corn Stalk Grinder Sales Quantity by Type (2018-2029)
5.2 Global Corn Stalk Grinder Consumption Value by Type (2018-2029)
5.3 Global Corn Stalk Grinder Average Price by Type (2018-2029)
6 Market Segment by Application
6.1 Global Corn Stalk Grinder Sales Quantity by Application (2018-2029)
6.2 Global Corn Stalk Grinder Consumption Value by Application (2018-2029)
6.3 Global Corn Stalk Grinder Average Price by Application (2018-2029)
7 North America
7.1 North America Corn Stalk Grinder Sales Quantity by Type (2018-2029)
7.2 North America Corn Stalk Grinder Sales Quantity by Application (2018-2029)
7.3 North America Corn Stalk Grinder Market Size by Country
7.3.1 North America Corn Stalk Grinder Sales Quantity by Country (2018-2029)
7.3.2 North America Corn Stalk Grinder Consumption Value by Country (2018-2029)
7.3.3 United States Market Size and Forecast (2018-2029)
7.3.4 Canada Market Size and Forecast (2018-2029)
7.3.5 Mexico Market Size and Forecast (2018-2029)
8 Europe
8.1 Europe Corn Stalk Grinder Sales Quantity by Type (2018-2029)
8.2 Europe Corn Stalk Grinder Sales Quantity by Application (2018-2029)
8.3 Europe Corn Stalk Grinder Market Size by Country
8.3.1 Europe Corn Stalk Grinder Sales Quantity by Country (2018-2029)
8.3.2 Europe Corn Stalk Grinder Consumption Value by Country (2018-2029)
8.3.3 Germany Market Size and Forecast (2018-2029)
8.3.4 France Market Size and Forecast (2018-2029)
8.3.5 United Kingdom Market Size and Forecast (2018-2029)
8.3.6 Russia Market Size and Forecast (2018-2029)
8.3.7 Italy Market Size and Forecast (2018-2029)
9 Asia-Pacific
9.1 Asia-Pacific Corn Stalk Grinder Sales Quantity by Type (2018-2029)
9.2 Asia-Pacific Corn Stalk Grinder Sales Quantity by Application (2018-2029)
9.3 Asia-Pacific Corn Stalk Grinder Market Size by Region
9.3.1 Asia-Pacific Corn Stalk Grinder Sales Quantity by Region (2018-2029)
9.3.2 Asia-Pacific Corn Stalk Grinder Consumption Value by Region (2018-2029)
9.3.3 China Market Size and Forecast (2018-2029)
9.3.4 Japan Market Size and Forecast (2018-2029)
9.3.5 Korea Market Size and Forecast (2018-2029)
9.3.6 India Market Size and Forecast (2018-2029)
9.3.7 Southeast Asia Market Size and Forecast (2018-2029)
9.3.8 Australia Market Size and Forecast (2018-2029)
10 South America
10.1 South America Corn Stalk Grinder Sales Quantity by Type (2018-2029)
10.2 South America Corn Stalk Grinder Sales Quantity by Application (2018-2029)
10.3 South America Corn Stalk Grinder Market Size by Country
10.3.1 South America Corn Stalk Grinder Sales Quantity by Country (2018-2029)
10.3.2 South America Corn Stalk Grinder Consumption Value by Country (2018-2029)
10.3.3 Brazil Market Size and Forecast (2018-2029)
10.3.4 Argentina Market Size and Forecast (2018-2029)
11 Middle East & Africa
11.1 Middle East & Africa Corn Stalk Grinder Sales Quantity by Type (2018-2029)
11.2 Middle East & Africa Corn Stalk Grinder Sales Quantity by Application (2018-2029)
11.3 Middle East & Africa Corn Stalk Grinder Market Size by Country
11.3.1 Middle East & Africa Corn Stalk Grinder Sales Quantity by Country (2018-2029)
11.3.2 Middle East & Africa Corn Stalk Grinder Consumption Value by Country (2018-2029)
11.3.3 Turkey Market Size and Forecast (2018-2029)
11.3.4 Egypt Market Size and Forecast (2018-2029)
11.3.5 Saudi Arabia Market Size and Forecast (2018-2029)
11.3.6 South Africa Market Size and Forecast (2018-2029)
12 Market Dynamics
12.1 Corn Stalk Grinder Market Drivers
12.2 Corn Stalk Grinder Market Restraints
12.3 Corn Stalk Grinder Trends Analysis
12.4 Porters Five Forces Analysis
12.4.1 Threat of New Entrants
12.4.2 Bargaining Power of Suppliers
12.4.3 Bargaining Power of Buyers
12.4.4 Threat of Substitutes
12.4.5 Competitive Rivalry
12.5 Influence of COVID-19 and Russia-Ukraine War
12.5.1 Influence of COVID-19
12.5.2 Influence of Russia-Ukraine War
13 Raw Material and Industry Chain
13.1 Raw Material of Corn Stalk Grinder and Key Manufacturers
13.2 Manufacturing Costs Percentage of Corn Stalk Grinder
13.3 Corn Stalk Grinder Production Process
13.4 Corn Stalk Grinder Industrial Chain
14 Shipments by Distribution Channel
14.1 Sales Channel
14.1.1 Direct to End-User
14.1.2 Distributors
14.2 Corn Stalk Grinder Typical Distributors
14.3 Corn Stalk Grinder Typical Customers
15 Research Findings and Conclusion
16 Appendix
16.1 Methodology
16.2 Research Process and Data Source
16.3 Disclaimer