Electromagnetic Clutches Industry Research Report 2024

Electromagnetic Clutches Industry Research Report 2024


Summary

Electromagnetic clutches are the clutches function under the effect of electromagnetic force, control the joint and separation of the clutch based on the power on/off of the coil. It make the torque transmit from active side to passive side with the function of electromagnetic energy, so as to complete the connection of mechanical mechanism, realized the transmission function of the drive system.
Electromagnetic clutches has the characteristic like rapid response, strong durability, easy assembly maintenance, and so on, widely used in machine tools, automotive industry, packaging, printing, textile, light industry and office equipment.
According to APO Research, The global Electromagnetic Clutches 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 Electromagnetic Clutches 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 Electromagnetic Clutches 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 Electromagnetic Clutches 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 Electromagnetic Clutches 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 Electromagnetic Clutches, 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 Electromagnetic Clutches.
The report will help the Electromagnetic Clutches 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 Electromagnetic Clutches market size, estimations, and forecasts are provided in terms of sales volume (K 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 Electromagnetic Clutches 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:

Altra Industrial Motion
Mitsubishi Electric
Minebea
Osaki
Karl E. Brinkmann
Miki Pulley
Goizper
Danaher
Magtrol
Intorq
Ortlinghaus
Mayr
Merobel
Kobelco
Tianjin Electric
Chuang Xin
Guangde Lixin
Tian Ji
Steki
Chain Tail
Yan Clutch
Ogura Clutch
Kendrion
Hofo
Jiangyin Changsheng
Langfang Xinjia
Guang Da Motor
China Wanxiang
Electromagnetic Clutches segment by Type

Dry
Wet
Magnetic Powder
Others
Electromagnetic Clutches segment by Application

Automotive Industrial
Machine Tool
Others
Electromagnetic Clutches 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 Electromagnetic Clutches 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 Electromagnetic Clutches 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 Electromagnetic Clutches.
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 Electromagnetic Clutches 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 Electromagnetic Clutches 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 Electromagnetic Clutches 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 Electromagnetic Clutches by Type
2.2.1 Market Value Comparison by Type (2019 VS 2023 VS 2030) & (US$ Million)
2.2.2 Dry
2.2.3 Wet
2.2.4 Magnetic Powder
2.2.5 Others
2.3 Electromagnetic Clutches by Application
2.3.1 Market Value Comparison by Application (2019 VS 2023 VS 2030) & (US$ Million)
2.3.2 Automotive Industrial
2.3.3 Machine Tool
2.3.4 Others
2.4 Global Market Growth Prospects
2.4.1 Global Electromagnetic Clutches Production Value Estimates and Forecasts (2019-2030)
2.4.2 Global Electromagnetic Clutches Production Capacity Estimates and Forecasts (2019-2030)
2.4.3 Global Electromagnetic Clutches Production Estimates and Forecasts (2019-2030)
2.4.4 Global Electromagnetic Clutches Market Average Price (2019-2030)
3 Market Competitive Landscape by Manufacturers
3.1 Global Electromagnetic Clutches Production by Manufacturers (2019-2024)
3.2 Global Electromagnetic Clutches Production Value by Manufacturers (2019-2024)
3.3 Global Electromagnetic Clutches Average Price by Manufacturers (2019-2024)
3.4 Global Electromagnetic Clutches Industry Manufacturers Ranking, 2022 VS 2023 VS 2024
3.5 Global Electromagnetic Clutches Key Manufacturers, Manufacturing Sites & Headquarters
3.6 Global Electromagnetic Clutches Manufacturers, Product Type & Application
3.7 Global Electromagnetic Clutches Manufacturers, Date of Enter into This Industry
3.8 Global Electromagnetic Clutches Market CR5 and HHI
3.9 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
4.1 Altra Industrial Motion
4.1.1 Altra Industrial Motion Electromagnetic Clutches Company Information
4.1.2 Altra Industrial Motion Electromagnetic Clutches Business Overview
4.1.3 Altra Industrial Motion Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.1.4 Altra Industrial Motion Product Portfolio
4.1.5 Altra Industrial Motion Recent Developments
4.2 Mitsubishi Electric
4.2.1 Mitsubishi Electric Electromagnetic Clutches Company Information
4.2.2 Mitsubishi Electric Electromagnetic Clutches Business Overview
4.2.3 Mitsubishi Electric Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.2.4 Mitsubishi Electric Product Portfolio
4.2.5 Mitsubishi Electric Recent Developments
4.3 Minebea
4.3.1 Minebea Electromagnetic Clutches Company Information
4.3.2 Minebea Electromagnetic Clutches Business Overview
4.3.3 Minebea Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.3.4 Minebea Product Portfolio
4.3.5 Minebea Recent Developments
4.4 Osaki
4.4.1 Osaki Electromagnetic Clutches Company Information
4.4.2 Osaki Electromagnetic Clutches Business Overview
4.4.3 Osaki Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.4.4 Osaki Product Portfolio
4.4.5 Osaki Recent Developments
4.5 Karl E. Brinkmann
4.5.1 Karl E. Brinkmann Electromagnetic Clutches Company Information
4.5.2 Karl E. Brinkmann Electromagnetic Clutches Business Overview
4.5.3 Karl E. Brinkmann Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.5.4 Karl E. Brinkmann Product Portfolio
4.5.5 Karl E. Brinkmann Recent Developments
4.6 Miki Pulley
4.6.1 Miki Pulley Electromagnetic Clutches Company Information
4.6.2 Miki Pulley Electromagnetic Clutches Business Overview
4.6.3 Miki Pulley Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.6.4 Miki Pulley Product Portfolio
4.6.5 Miki Pulley Recent Developments
4.7 Goizper
4.7.1 Goizper Electromagnetic Clutches Company Information
4.7.2 Goizper Electromagnetic Clutches Business Overview
4.7.3 Goizper Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.7.4 Goizper Product Portfolio
4.7.5 Goizper Recent Developments
4.8 Danaher
4.8.1 Danaher Electromagnetic Clutches Company Information
4.8.2 Danaher Electromagnetic Clutches Business Overview
4.8.3 Danaher Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.8.4 Danaher Product Portfolio
4.8.5 Danaher Recent Developments
4.9 Magtrol
4.9.1 Magtrol Electromagnetic Clutches Company Information
4.9.2 Magtrol Electromagnetic Clutches Business Overview
4.9.3 Magtrol Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.9.4 Magtrol Product Portfolio
4.9.5 Magtrol Recent Developments
4.10 Intorq
4.10.1 Intorq Electromagnetic Clutches Company Information
4.10.2 Intorq Electromagnetic Clutches Business Overview
4.10.3 Intorq Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.10.4 Intorq Product Portfolio
4.10.5 Intorq Recent Developments
4.11 Ortlinghaus
4.11.1 Ortlinghaus Electromagnetic Clutches Company Information
4.11.2 Ortlinghaus Electromagnetic Clutches Business Overview
4.11.3 Ortlinghaus Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.11.4 Ortlinghaus Product Portfolio
4.11.5 Ortlinghaus Recent Developments
4.12 Mayr
4.12.1 Mayr Electromagnetic Clutches Company Information
4.12.2 Mayr Electromagnetic Clutches Business Overview
4.12.3 Mayr Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.12.4 Mayr Product Portfolio
4.12.5 Mayr Recent Developments
4.13 Merobel
4.13.1 Merobel Electromagnetic Clutches Company Information
4.13.2 Merobel Electromagnetic Clutches Business Overview
4.13.3 Merobel Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.13.4 Merobel Product Portfolio
4.13.5 Merobel Recent Developments
4.14 Kobelco
4.14.1 Kobelco Electromagnetic Clutches Company Information
4.14.2 Kobelco Electromagnetic Clutches Business Overview
4.14.3 Kobelco Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.14.4 Kobelco Product Portfolio
4.14.5 Kobelco Recent Developments
4.15 Tianjin Electric
4.15.1 Tianjin Electric Electromagnetic Clutches Company Information
4.15.2 Tianjin Electric Electromagnetic Clutches Business Overview
4.15.3 Tianjin Electric Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.15.4 Tianjin Electric Product Portfolio
4.15.5 Tianjin Electric Recent Developments
4.16 Chuang Xin
4.16.1 Chuang Xin Electromagnetic Clutches Company Information
4.16.2 Chuang Xin Electromagnetic Clutches Business Overview
4.16.3 Chuang Xin Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.16.4 Chuang Xin Product Portfolio
4.16.5 Chuang Xin Recent Developments
4.17 Guangde Lixin
4.17.1 Guangde Lixin Electromagnetic Clutches Company Information
4.17.2 Guangde Lixin Electromagnetic Clutches Business Overview
4.17.3 Guangde Lixin Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.17.4 Guangde Lixin Product Portfolio
4.17.5 Guangde Lixin Recent Developments
4.18 Tian Ji
4.18.1 Tian Ji Electromagnetic Clutches Company Information
4.18.2 Tian Ji Electromagnetic Clutches Business Overview
4.18.3 Tian Ji Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.18.4 Tian Ji Product Portfolio
4.18.5 Tian Ji Recent Developments
4.19 Steki
4.19.1 Steki Electromagnetic Clutches Company Information
4.19.2 Steki Electromagnetic Clutches Business Overview
4.19.3 Steki Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.19.4 Steki Product Portfolio
4.19.5 Steki Recent Developments
4.20 Chain Tail
4.20.1 Chain Tail Electromagnetic Clutches Company Information
4.20.2 Chain Tail Electromagnetic Clutches Business Overview
4.20.3 Chain Tail Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.20.4 Chain Tail Product Portfolio
4.20.5 Chain Tail Recent Developments
4.21 Yan Clutch
4.21.1 Yan Clutch Electromagnetic Clutches Company Information
4.21.2 Yan Clutch Electromagnetic Clutches Business Overview
4.21.3 Yan Clutch Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.21.4 Yan Clutch Product Portfolio
4.21.5 Yan Clutch Recent Developments
4.22 Ogura Clutch
4.22.1 Ogura Clutch Electromagnetic Clutches Company Information
4.22.2 Ogura Clutch Electromagnetic Clutches Business Overview
4.22.3 Ogura Clutch Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.22.4 Ogura Clutch Product Portfolio
4.22.5 Ogura Clutch Recent Developments
4.23 Kendrion
4.23.1 Kendrion Electromagnetic Clutches Company Information
4.23.2 Kendrion Electromagnetic Clutches Business Overview
4.23.3 Kendrion Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.23.4 Kendrion Product Portfolio
4.23.5 Kendrion Recent Developments
4.24 Hofo
4.24.1 Hofo Electromagnetic Clutches Company Information
4.24.2 Hofo Electromagnetic Clutches Business Overview
4.24.3 Hofo Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.24.4 Hofo Product Portfolio
4.24.5 Hofo Recent Developments
4.25 Jiangyin Changsheng
4.25.1 Jiangyin Changsheng Electromagnetic Clutches Company Information
4.25.2 Jiangyin Changsheng Electromagnetic Clutches Business Overview
4.25.3 Jiangyin Changsheng Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.25.4 Jiangyin Changsheng Product Portfolio
4.25.5 Jiangyin Changsheng Recent Developments
4.26 Langfang Xinjia
4.26.1 Langfang Xinjia Electromagnetic Clutches Company Information
4.26.2 Langfang Xinjia Electromagnetic Clutches Business Overview
4.26.3 Langfang Xinjia Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.26.4 Langfang Xinjia Product Portfolio
4.26.5 Langfang Xinjia Recent Developments
4.27 Guang Da Motor
4.27.1 Guang Da Motor Electromagnetic Clutches Company Information
4.27.2 Guang Da Motor Electromagnetic Clutches Business Overview
4.27.3 Guang Da Motor Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.27.4 Guang Da Motor Product Portfolio
4.27.5 Guang Da Motor Recent Developments
4.28 China Wanxiang
4.28.1 China Wanxiang Electromagnetic Clutches Company Information
4.28.2 China Wanxiang Electromagnetic Clutches Business Overview
4.28.3 China Wanxiang Electromagnetic Clutches Production, Value and Gross Margin (2019-2024)
4.28.4 China Wanxiang Product Portfolio
4.28.5 China Wanxiang Recent Developments
5 Global Electromagnetic Clutches Production by Region
5.1 Global Electromagnetic Clutches Production Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
5.2 Global Electromagnetic Clutches Production by Region: 2019-2030
5.2.1 Global Electromagnetic Clutches Production by Region: 2019-2024
5.2.2 Global Electromagnetic Clutches Production Forecast by Region (2025-2030)
5.3 Global Electromagnetic Clutches Production Value Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
5.4 Global Electromagnetic Clutches Production Value by Region: 2019-2030
5.4.1 Global Electromagnetic Clutches Production Value by Region: 2019-2024
5.4.2 Global Electromagnetic Clutches Production Value Forecast by Region (2025-2030)
5.5 Global Electromagnetic Clutches Market Price Analysis by Region (2019-2024)
5.6 Global Electromagnetic Clutches Production and Value, YOY Growth
5.6.1 North America Electromagnetic Clutches Production Value Estimates and Forecasts (2019-2030)
5.6.2 Europe Electromagnetic Clutches Production Value Estimates and Forecasts (2019-2030)
5.6.3 China Electromagnetic Clutches Production Value Estimates and Forecasts (2019-2030)
5.6.4 Japan Electromagnetic Clutches Production Value Estimates and Forecasts (2019-2030)
5.6.5 South Korea Electromagnetic Clutches Production Value Estimates and Forecasts (2019-2030)
5.6.6 India Electromagnetic Clutches Production Value Estimates and Forecasts (2019-2030)
6 Global Electromagnetic Clutches Consumption by Region
6.1 Global Electromagnetic Clutches Consumption Estimates and Forecasts by Region: 2019 VS 2023 VS 2030
6.2 Global Electromagnetic Clutches Consumption by Region (2019-2030)
6.2.1 Global Electromagnetic Clutches Consumption by Region: 2019-2030
6.2.2 Global Electromagnetic Clutches Forecasted Consumption by Region (2025-2030)
6.3 North America
6.3.1 North America Electromagnetic Clutches Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
6.3.2 North America Electromagnetic Clutches Consumption by Country (2019-2030)
6.3.3 U.S.
6.3.4 Canada
6.4 Europe
6.4.1 Europe Electromagnetic Clutches Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
6.4.2 Europe Electromagnetic Clutches 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 Electromagnetic Clutches Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
6.5.2 Asia Pacific Electromagnetic Clutches 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 Electromagnetic Clutches Consumption Growth Rate by Country: 2019 VS 2023 VS 2030
6.6.2 Latin America, Middle East & Africa Electromagnetic Clutches 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 Electromagnetic Clutches Production by Type (2019-2030)
7.1.1 Global Electromagnetic Clutches Production by Type (2019-2030) & (K Units)
7.1.2 Global Electromagnetic Clutches Production Market Share by Type (2019-2030)
7.2 Global Electromagnetic Clutches Production Value by Type (2019-2030)
7.2.1 Global Electromagnetic Clutches Production Value by Type (2019-2030) & (US$ Million)
7.2.2 Global Electromagnetic Clutches Production Value Market Share by Type (2019-2030)
7.3 Global Electromagnetic Clutches Price by Type (2019-2030)
8 Segment by Application
8.1 Global Electromagnetic Clutches Production by Application (2019-2030)
8.1.1 Global Electromagnetic Clutches Production by Application (2019-2030) & (K Units)
8.1.2 Global Electromagnetic Clutches Production by Application (2019-2030) & (K Units)
8.2 Global Electromagnetic Clutches Production Value by Application (2019-2030)
8.2.1 Global Electromagnetic Clutches Production Value by Application (2019-2030) & (US$ Million)
8.2.2 Global Electromagnetic Clutches Production Value Market Share by Application (2019-2030)
8.3 Global Electromagnetic Clutches Price by Application (2019-2030)
9 Value Chain and Sales Channels Analysis of the Market
9.1 Electromagnetic Clutches Value Chain Analysis
9.1.1 Electromagnetic Clutches Key Raw Materials
9.1.2 Raw Materials Key Suppliers
9.1.3 Electromagnetic Clutches Production Mode & Process
9.2 Electromagnetic Clutches Sales Channels Analysis
9.2.1 Direct Comparison with Distribution Share
9.2.2 Electromagnetic Clutches Distributors
9.2.3 Electromagnetic Clutches Customers
10 Global Electromagnetic Clutches Analyzing Market Dynamics
10.1 Electromagnetic Clutches Industry Trends
10.2 Electromagnetic Clutches Industry Drivers
10.3 Electromagnetic Clutches Industry Opportunities and Challenges
10.4 Electromagnetic Clutches Industry Restraints
11 Report Conclusion
12 Disclaimer

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