Anaerobic Digesters Industry Research Report 2024

Anaerobic Digesters Industry Research Report 2024


Summary

Anaerobic digestion is a process through which bacteria break down organic matter—such as animal manure, wastewater biosolids, and food wastes—in the absence of oxygen. Anaerobic digestion for biogas production takes place in a sealed vessel called a reactor, which is designed and constructed in various shapes and sizes specific to the site and feedstock conditions. These reactors contain complex microbial communities that break down (or digest) the waste and produce resultant biogas and digestate (the solid and liquid material end-products of the AD process) which is discharged from the digester.
Multiple organic materials can be combined in one digester, a practice called co-digestion. Co-digested materials include manure; food waste (i.e., processing, distribution and consumer generated materials); energy crops; crop residues; and fats, oils, and greases (FOG) from restaurant grease traps, and many other sources. Co-digestion can increase biogas production from low-yielding or difficult-to-digest organic waste.
According to APO Research, The global Anaerobic Digesters market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of xx% during the forecast period 2024-2030.
North American market for Anaerobic Digesters is estimated to increase from $ million in 2024 to reach $ million by 2030, at a CAGR of % during the forecast period of 2025 through 2030.
Asia-Pacific market for Anaerobic Digesters is estimated to increase from $ million in 2024 to reach $ million by 2030, at a CAGR of % during the forecast period of 2025 through 2030.
Europe market for Anaerobic Digesters is estimated to increase from $ million in 2024 to reach $ million by 2030, at a CAGR of % during the forecast period of 2025 through 2030.
The major global manufacturers of Anaerobic Digesters include , etc. In 2023, 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 Anaerobic Digesters, 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 Anaerobic Digesters.
The report will help the Anaerobic Digesters manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
The Anaerobic Digesters market size, estimations, and forecasts are provided in terms of sales volume (Units) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Anaerobic Digesters 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.

Key Companies & Market Share Insights

In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2019-2024. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:

Paques
VEOLIA
GE Water & Process Technologies
PURAC
Bossco
Shandong Meiquan
Degremont
ADI System
Voith
Best Environmental Technology
Suez
Zenviro Tech US Inc.
DVO, Inc.
Bioenergy DevCo
Northern Biogas
Martin Construction Resource LLC
Biogest America, Inc.
Econvert
Global Water & Energy
Welle
Evoqua
Ever-Clean
Hubei Yijing Environmental
Tianyuan Environmental
Waterleau
Shandong Aiou
Wuxi Mier
Qinhuangdao Green
Anaerobic Digesters segment by Type

UASB
IC Reactor
EGSB
Others
Anaerobic Digesters segment by Application

Paper Industry
Food & Beverage Industry
Chemical Industry
Municipal
Others
Anaerobic Digesters Segment by Region

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE

Key Drivers & Barriers

High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

Reasons to Buy This Report

1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Anaerobic Digesters market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Anaerobic Digesters and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Anaerobic Digesters.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Chapter Outline

Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, 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 3: Detailed analysis of Anaerobic Digesters manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.
Chapter 5: Production/output, value of Anaerobic Digesters by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.
Chapter 6: Consumption of Anaerobic Digesters 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 7: 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 8: 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 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: 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 11: The main points and conclusions of the report.


1 Preface
1.1 Scope of Report
1.2 Reasons for Doing This Study
1.3 Research Methodology
1.4 Research Process
1.5 Data Source
1.5.1 Secondary Sources
1.5.2 Primary Sources
2 Market Overview
2.1 Product Definition
2.2 Anaerobic Digesters by Type
2.2.1 Market Value Comparison by Type (2019 VS 2023 VS 2030) & (US$ Million)
2.2.2 UASB
2.2.3 IC Reactor
2.2.4 EGSB
2.2.5 Others
2.3 Anaerobic Digesters by Application
2.3.1 Market Value Comparison by Application (2019 VS 2023 VS 2030) & (US$ Million)
2.3.2 Paper Industry
2.3.3 Food & Beverage Industry
2.3.4 Chemical Industry
2.3.5 Municipal
2.3.6 Others
2.4 Global Market Growth Prospects
2.4.1 Global Anaerobic Digesters Production Value Estimates and Forecasts (2019-2030)
2.4.2 Global Anaerobic Digesters Production Capacity Estimates and Forecasts (2019-2030)
2.4.3 Global Anaerobic Digesters Production Estimates and Forecasts (2019-2030)
2.4.4 Global Anaerobic Digesters Market Average Price (2019-2030)
3 Market Competitive Landscape by Manufacturers
3.1 Global Anaerobic Digesters Production by Manufacturers (2019-2024)
3.2 Global Anaerobic Digesters Production Value by Manufacturers (2019-2024)
3.3 Global Anaerobic Digesters Average Price by Manufacturers (2019-2024)
3.4 Global Anaerobic Digesters Industry Manufacturers Ranking, 2022 VS 2023 VS 2024
3.5 Global Anaerobic Digesters Key Manufacturers, Manufacturing Sites & Headquarters
3.6 Global Anaerobic Digesters Manufacturers, Product Type & Application
3.7 Global Anaerobic Digesters Manufacturers, Date of Enter into This Industry
3.8 Global Anaerobic Digesters Market CR5 and HHI
3.9 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
4.1 Paques
4.1.1 Paques Anaerobic Digesters Company Information
4.1.2 Paques Anaerobic Digesters Business Overview
4.1.3 Paques Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.1.4 Paques Product Portfolio
4.1.5 Paques Recent Developments
4.2 VEOLIA
4.2.1 VEOLIA Anaerobic Digesters Company Information
4.2.2 VEOLIA Anaerobic Digesters Business Overview
4.2.3 VEOLIA Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.2.4 VEOLIA Product Portfolio
4.2.5 VEOLIA Recent Developments
4.3 GE Water & Process Technologies
4.3.1 GE Water & Process Technologies Anaerobic Digesters Company Information
4.3.2 GE Water & Process Technologies Anaerobic Digesters Business Overview
4.3.3 GE Water & Process Technologies Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.3.4 GE Water & Process Technologies Product Portfolio
4.3.5 GE Water & Process Technologies Recent Developments
4.4 PURAC
4.4.1 PURAC Anaerobic Digesters Company Information
4.4.2 PURAC Anaerobic Digesters Business Overview
4.4.3 PURAC Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.4.4 PURAC Product Portfolio
4.4.5 PURAC Recent Developments
4.5 Bossco
4.5.1 Bossco Anaerobic Digesters Company Information
4.5.2 Bossco Anaerobic Digesters Business Overview
4.5.3 Bossco Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.5.4 Bossco Product Portfolio
4.5.5 Bossco Recent Developments
4.6 Shandong Meiquan
4.6.1 Shandong Meiquan Anaerobic Digesters Company Information
4.6.2 Shandong Meiquan Anaerobic Digesters Business Overview
4.6.3 Shandong Meiquan Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.6.4 Shandong Meiquan Product Portfolio
4.6.5 Shandong Meiquan Recent Developments
4.7 Degremont
4.7.1 Degremont Anaerobic Digesters Company Information
4.7.2 Degremont Anaerobic Digesters Business Overview
4.7.3 Degremont Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.7.4 Degremont Product Portfolio
4.7.5 Degremont Recent Developments
4.8 ADI System
4.8.1 ADI System Anaerobic Digesters Company Information
4.8.2 ADI System Anaerobic Digesters Business Overview
4.8.3 ADI System Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.8.4 ADI System Product Portfolio
4.8.5 ADI System Recent Developments
4.9 Voith
4.9.1 Voith Anaerobic Digesters Company Information
4.9.2 Voith Anaerobic Digesters Business Overview
4.9.3 Voith Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.9.4 Voith Product Portfolio
4.9.5 Voith Recent Developments
4.10 Best Environmental Technology
4.10.1 Best Environmental Technology Anaerobic Digesters Company Information
4.10.2 Best Environmental Technology Anaerobic Digesters Business Overview
4.10.3 Best Environmental Technology Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.10.4 Best Environmental Technology Product Portfolio
4.10.5 Best Environmental Technology Recent Developments
4.11 Suez
4.11.1 Suez Anaerobic Digesters Company Information
4.11.2 Suez Anaerobic Digesters Business Overview
4.11.3 Suez Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.11.4 Suez Product Portfolio
4.11.5 Suez Recent Developments
4.12 Zenviro Tech US Inc.
4.12.1 Zenviro Tech US Inc. Anaerobic Digesters Company Information
4.12.2 Zenviro Tech US Inc. Anaerobic Digesters Business Overview
4.12.3 Zenviro Tech US Inc. Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.12.4 Zenviro Tech US Inc. Product Portfolio
4.12.5 Zenviro Tech US Inc. Recent Developments
4.13 DVO, Inc.
4.13.1 DVO, Inc. Anaerobic Digesters Company Information
4.13.2 DVO, Inc. Anaerobic Digesters Business Overview
4.13.3 DVO, Inc. Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.13.4 DVO, Inc. Product Portfolio
4.13.5 DVO, Inc. Recent Developments
4.14 Bioenergy DevCo
4.14.1 Bioenergy DevCo Anaerobic Digesters Company Information
4.14.2 Bioenergy DevCo Anaerobic Digesters Business Overview
4.14.3 Bioenergy DevCo Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.14.4 Bioenergy DevCo Product Portfolio
4.14.5 Bioenergy DevCo Recent Developments
4.15 Northern Biogas
4.15.1 Northern Biogas Anaerobic Digesters Company Information
4.15.2 Northern Biogas Anaerobic Digesters Business Overview
4.15.3 Northern Biogas Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.15.4 Northern Biogas Product Portfolio
4.15.5 Northern Biogas Recent Developments
4.16 Martin Construction Resource LLC
4.16.1 Martin Construction Resource LLC Anaerobic Digesters Company Information
4.16.2 Martin Construction Resource LLC Anaerobic Digesters Business Overview
4.16.3 Martin Construction Resource LLC Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.16.4 Martin Construction Resource LLC Product Portfolio
4.16.5 Martin Construction Resource LLC Recent Developments
4.17 Biogest America, Inc.
4.17.1 Biogest America, Inc. Anaerobic Digesters Company Information
4.17.2 Biogest America, Inc. Anaerobic Digesters Business Overview
4.17.3 Biogest America, Inc. Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.17.4 Biogest America, Inc. Product Portfolio
4.17.5 Biogest America, Inc. Recent Developments
4.18 Econvert
4.18.1 Econvert Anaerobic Digesters Company Information
4.18.2 Econvert Anaerobic Digesters Business Overview
4.18.3 Econvert Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.18.4 Econvert Product Portfolio
4.18.5 Econvert Recent Developments
4.19 Global Water & Energy
4.19.1 Global Water & Energy Anaerobic Digesters Company Information
4.19.2 Global Water & Energy Anaerobic Digesters Business Overview
4.19.3 Global Water & Energy Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.19.4 Global Water & Energy Product Portfolio
4.19.5 Global Water & Energy Recent Developments
4.20 Welle
4.20.1 Welle Anaerobic Digesters Company Information
4.20.2 Welle Anaerobic Digesters Business Overview
4.20.3 Welle Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.20.4 Welle Product Portfolio
4.20.5 Welle Recent Developments
4.21 Evoqua
4.21.1 Evoqua Anaerobic Digesters Company Information
4.21.2 Evoqua Anaerobic Digesters Business Overview
4.21.3 Evoqua Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.21.4 Evoqua Product Portfolio
4.21.5 Evoqua Recent Developments
4.22 Ever-Clean
4.22.1 Ever-Clean Anaerobic Digesters Company Information
4.22.2 Ever-Clean Anaerobic Digesters Business Overview
4.22.3 Ever-Clean Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.22.4 Ever-Clean Product Portfolio
4.22.5 Ever-Clean Recent Developments
4.23 Hubei Yijing Environmental
4.23.1 Hubei Yijing Environmental Anaerobic Digesters Company Information
4.23.2 Hubei Yijing Environmental Anaerobic Digesters Business Overview
4.23.3 Hubei Yijing Environmental Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.23.4 Hubei Yijing Environmental Product Portfolio
4.23.5 Hubei Yijing Environmental Recent Developments
4.24 Tianyuan Environmental
4.24.1 Tianyuan Environmental Anaerobic Digesters Company Information
4.24.2 Tianyuan Environmental Anaerobic Digesters Business Overview
4.24.3 Tianyuan Environmental Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.24.4 Tianyuan Environmental Product Portfolio
4.24.5 Tianyuan Environmental Recent Developments
4.25 Waterleau
4.25.1 Waterleau Anaerobic Digesters Company Information
4.25.2 Waterleau Anaerobic Digesters Business Overview
4.25.3 Waterleau Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.25.4 Waterleau Product Portfolio
4.25.5 Waterleau Recent Developments
4.26 Shandong Aiou
4.26.1 Shandong Aiou Anaerobic Digesters Company Information
4.26.2 Shandong Aiou Anaerobic Digesters Business Overview
4.26.3 Shandong Aiou Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.26.4 Shandong Aiou Product Portfolio
4.26.5 Shandong Aiou Recent Developments
4.27 Wuxi Mier
4.27.1 Wuxi Mier Anaerobic Digesters Company Information
4.27.2 Wuxi Mier Anaerobic Digesters Business Overview
4.27.3 Wuxi Mier Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.27.4 Wuxi Mier Product Portfolio
4.27.5 Wuxi Mier Recent Developments
4.28 Qinhuangdao Green
4.28.1 Qinhuangdao Green Anaerobic Digesters Company Information
4.28.2 Qinhuangdao Green Anaerobic Digesters Business Overview
4.28.3 Qinhuangdao Green Anaerobic Digesters Production, Value and Gross Margin (2019-2024)
4.28.4 Qinhuangdao Green Product Portfolio
4.28.5 Qinhuangdao Green Recent Developments
5 Global Anaerobic Digesters Production by Region
5.1 Global Anaerobic Digesters Production Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
5.2 Global Anaerobic Digesters Production by Region: 2019-2030
5.2.1 Global Anaerobic Digesters Production by Region: 2019-2024
5.2.2 Global Anaerobic Digesters Production Forecast by Region (2025-2030)
5.3 Global Anaerobic Digesters Production Value Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
5.4 Global Anaerobic Digesters Production Value by Region: 2019-2030
5.4.1 Global Anaerobic Digesters Production Value by Region: 2019-2024
5.4.2 Global Anaerobic Digesters Production Value Forecast by Region (2025-2030)
5.5 Global Anaerobic Digesters Market Price Analysis by Region (2019-2024)
5.6 Global Anaerobic Digesters Production and Value, YOY Growth
5.6.1 North America Anaerobic Digesters Production Value Estimates and Forecasts (2019-2030)
5.6.2 Europe Anaerobic Digesters Production Value Estimates and Forecasts (2019-2030)
5.6.3 China Anaerobic Digesters Production Value Estimates and Forecasts (2019-2030)
6 Global Anaerobic Digesters Consumption by Region
6.1 Global Anaerobic Digesters Consumption Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
6.2 Global Anaerobic Digesters Consumption by Region (2019-2030)
6.2.1 Global Anaerobic Digesters Consumption by Region: 2019-2030
6.2.2 Global Anaerobic Digesters Forecasted Consumption by Region (2025-2030)
6.3 North America
6.3.1 North America Anaerobic Digesters Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
6.3.2 North America Anaerobic Digesters Consumption by Country (2019-2030)
6.3.3 U.S.
6.3.4 Canada
6.4 Europe
6.4.1 Europe Anaerobic Digesters Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
6.4.2 Europe Anaerobic Digesters Consumption by Country (2019-2030)
6.4.3 Germany
6.4.4 France
6.4.5 U.K.
6.4.6 Italy
6.4.7 Russia
6.5 Asia Pacific
6.5.1 Asia Pacific Anaerobic Digesters Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
6.5.2 Asia Pacific Anaerobic Digesters Consumption by Country (2019-2030)
6.5.3 China
6.5.4 Japan
6.5.5 South Korea
6.5.6 China Taiwan
6.5.7 Southeast Asia
6.5.8 India
6.5.9 Australia
6.6 Latin America, Middle East & Africa
6.6.1 Latin America, Middle East & Africa Anaerobic Digesters Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
6.6.2 Latin America, Middle East & Africa Anaerobic Digesters Consumption by Country (2019-2030)
6.6.3 Mexico
6.6.4 Brazil
6.6.5 Turkey
6.6.5 GCC Countries
7 Segment by Type
7.1 Global Anaerobic Digesters Production by Type (2019-2030)
7.1.1 Global Anaerobic Digesters Production by Type (2019-2030) & (Units)
7.1.2 Global Anaerobic Digesters Production Market Share by Type (2019-2030)
7.2 Global Anaerobic Digesters Production Value by Type (2019-2030)
7.2.1 Global Anaerobic Digesters Production Value by Type (2019-2030) & (US$ Million)
7.2.2 Global Anaerobic Digesters Production Value Market Share by Type (2019-2030)
7.3 Global Anaerobic Digesters Price by Type (2019-2030)
8 Segment by Application
8.1 Global Anaerobic Digesters Production by Application (2019-2030)
8.1.1 Global Anaerobic Digesters Production by Application (2019-2030) & (Units)
8.1.2 Global Anaerobic Digesters Production by Application (2019-2030) & (Units)
8.2 Global Anaerobic Digesters Production Value by Application (2019-2030)
8.2.1 Global Anaerobic Digesters Production Value by Application (2019-2030) & (US$ Million)
8.2.2 Global Anaerobic Digesters Production Value Market Share by Application (2019-2030)
8.3 Global Anaerobic Digesters Price by Application (2019-2030)
9 Value Chain and Sales Channels Analysis of the Market
9.1 Anaerobic Digesters Value Chain Analysis
9.1.1 Anaerobic Digesters Key Raw Materials
9.1.2 Raw Materials Key Suppliers
9.1.3 Anaerobic Digesters Production Mode & Process
9.2 Anaerobic Digesters Sales Channels Analysis
9.2.1 Direct Comparison with Distribution Share
9.2.2 Anaerobic Digesters Distributors
9.2.3 Anaerobic Digesters Customers
10 Global Anaerobic Digesters Analyzing Market Dynamics
10.1 Anaerobic Digesters Industry Trends
10.2 Anaerobic Digesters Industry Drivers
10.3 Anaerobic Digesters Industry Opportunities and Challenges
10.4 Anaerobic Digesters Industry Restraints
11 Report Conclusion
12 Disclaimer

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