Global Diesel Engines Market Analysis and Forecast 2024-2030

Global Diesel Engines Market Analysis and Forecast 2024-2030


Summary

Diesel engine, any internal-combustion engine in which air is compressed to a sufficiently high temperature to ignite diesel fuel injected into the cylinder, where combustion and expansion actuate a piston. It converts the chemical energy stored in the fuel into mechanical energy, which can be used to power freight trucks, large tractors, locomotives, and marine vessels. A limited number of automobiles also are diesel-powered, as are some electric-power generator sets.

According to APO Research, The global Diesel Engines market is projected to grow from US$ million in 2024 to US$ million by 2030, at a Compound Annual Growth Rate (CAGR) of % during the forecast period.

The US & Canada market for Diesel Engines 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 Diesel Engines 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 China market for Diesel Engines 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 Diesel Engines 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 Diesel Engines include Cummins, Caterpiller, Daimler, MAN, VOLVO, MHI, Deutz, Yanmar and Kubota, etc. In 2023, the world's top three vendors accounted for approximately % of the revenue.

In terms of production side, this report researches the Diesel Engines production, growth rate, market share by manufacturers and by region (region level and country level), from 2019 to 2024, and forecast to 2030.

In terms of consumption side, this report focuses on the sales of Diesel Engines by region (region level and country level), by Company, by Type and by Application. from 2019 to 2024 and forecast to 2030.

This report presents an overview of global market for Diesel Engines, capacity, output, revenue and price. Analyses of the global market trends, with historic market revenue or sales data for 2019 - 2023, estimates for 2024, and projections of CAGR through 2030.

This report researches the key producers of Diesel Engines, also provides the consumption of main regions and countries. Of the upcoming market potential for Diesel Engines, and key regions or countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, Middle East, Africa, and Other Countries.

This report focuses on the Diesel Engines sales, revenue, market share and industry ranking of main manufacturers, data from 2019 to 2024. Identification of the major stakeholders in the global Diesel Engines market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.

This report analyzes the segments data by Type and by Application, sales, revenue, and price, from 2019 to 2030. Evaluation and forecast the market size for Diesel Engines sales, projected growth trends, production technology, application and end-user industry.

Diesel Engines segment by Company

Cummins
Caterpiller
Daimler
MAN
VOLVO
MHI
Deutz
Yanmar
Kubota
Weichai
Quanchai
Changchai
Yunnei Power
FAW
Kohler
DFAC
Yuchai
FOTON
CNHTC
JMC
Hatz
Diesel Engines segment by Type

Single Cylinder
Multi Cylinder
Diesel Engines segment by Application

Automotive
Construction
Agriculture
Industrial
Other
Diesel Engines 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

Study Objectives

1. To analyze and research the global status and future forecast, involving, production, value, consumption, growth rate (CAGR), market share, historical and forecast.
2. To present the key manufacturers, capacity, production, revenue, market share, and Recent Developments.
3. To split the breakdown data by regions, type, manufacturers, and Application.
4. To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints, and risks.
5. To identify significant trends, drivers, influence factors in global and regions.
6. To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

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 Diesel Engines 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 Diesel Engines 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 Diesel Engines.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Chapter Outline

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by type and 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: 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 3: Diesel Engines production/output of global and key producers (regions/countries). It provides a quantitative analysis of the production, and development potential of each producer in the next six years.
Chapter 4: Sales (consumption), revenue of Diesel Engines in global, 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 5: Detailed analysis of Diesel Engines manufacturers competitive landscape, price, sales, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 6: Provides the analysis of various market segments by type, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 7: Provides the analysis of various market segments by application, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 8: Provides profiles of key manufacturers, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, Diesel Engines sales, revenue, price, gross margin, and recent development, etc.
Chapter 9: North America (US & Canada) by type, by application and by country, sales, and revenue for each segment.
Chapter 10: Europe by type, by application and by country, sales, and revenue for each segment.
Chapter 11: China by type, by application, sales, and revenue for each segment.
Chapter 12: Asia (Excluding China) by type, by application and by region, sales, and revenue for each segment.
Chapter 13: Middle East, Africa, Latin America by type, by application and by country, sales, and revenue for each segment.
Chapter 14: Analysis of industrial chain, sales channel, key raw materials, distributors and customers.
Chapter 15: The main concluding insights of the report.


1 Market Overview
1.1 Product Definition
1.2 Diesel Engines Market by Type
1.2.1 Global Diesel Engines Market Size by Type, 2019 VS 2023 VS 2030
1.2.2 Single Cylinder
1.2.3 Multi Cylinder
1.3 Diesel Engines Market by Application
1.3.1 Global Diesel Engines Market Size by Application, 2019 VS 2023 VS 2030
1.3.2 Automotive
1.3.3 Construction
1.3.4 Agriculture
1.3.5 Industrial
1.3.6 Other
1.4 Assumptions and Limitations
1.5 Study Goals and Objectives
2 Diesel Engines Market Dynamics
2.1 Diesel Engines Industry Trends
2.2 Diesel Engines Industry Drivers
2.3 Diesel Engines Industry Opportunities and Challenges
2.4 Diesel Engines Industry Restraints
3 Global Diesel Engines Production Overview
3.1 Global Diesel Engines Production Capacity (2019-2030)
3.2 Global Diesel Engines Production by Region: 2019 VS 2023 VS 2030
3.3 Global Diesel Engines Production by Region
3.3.1 Global Diesel Engines Production by Region (2019-2024)
3.3.2 Global Diesel Engines Production by Region (2025-2030)
3.3.3 Global Diesel Engines Production Market Share by Region (2019-2030)
3.4 North America
3.5 Europe
3.6 China
3.7 Japan
4 Global Market Growth Prospects
4.1 Global Diesel Engines Revenue Estimates and Forecasts (2019-2030)
4.2 Global Diesel Engines Revenue by Region
4.2.1 Global Diesel Engines Revenue by Region: 2019 VS 2023 VS 2030
4.2.2 Global Diesel Engines Revenue by Region (2019-2024)
4.2.3 Global Diesel Engines Revenue by Region (2025-2030)
4.2.4 Global Diesel Engines Revenue Market Share by Region (2019-2030)
4.3 Global Diesel Engines Sales Estimates and Forecasts 2019-2030
4.4 Global Diesel Engines Sales by Region
4.4.1 Global Diesel Engines Sales by Region: 2019 VS 2023 VS 2030
4.4.2 Global Diesel Engines Sales by Region (2019-2024)
4.4.3 Global Diesel Engines Sales by Region (2025-2030)
4.4.4 Global Diesel Engines Sales Market Share by Region (2019-2030)
4.5 US & Canada
4.6 Europe
4.7 China
4.8 Asia (Excluding China)
4.9 Middle East, Africa and Latin America
5 Market Competitive Landscape by Manufacturers
5.1 Global Diesel Engines Revenue by Manufacturers
5.1.1 Global Diesel Engines Revenue by Manufacturers (2019-2024)
5.1.2 Global Diesel Engines Revenue Market Share by Manufacturers (2019-2024)
5.1.3 Global Diesel Engines Manufacturers Revenue Share Top 10 and Top 5 in 2023
5.2 Global Diesel Engines Sales by Manufacturers
5.2.1 Global Diesel Engines Sales by Manufacturers (2019-2024)
5.2.2 Global Diesel Engines Sales Market Share by Manufacturers (2019-2024)
5.2.3 Global Diesel Engines Manufacturers Sales Share Top 10 and Top 5 in 2023
5.3 Global Diesel Engines Sales Price by Manufacturers (2019-2024)
5.4 Global Diesel Engines Key Manufacturers Ranking, 2022 VS 2023 VS 2024
5.5 Global Diesel Engines Key Manufacturers Manufacturing Sites & Headquarters
5.6 Global Diesel Engines Manufacturers, Product Type & Application
5.7 Global Diesel Engines Manufacturers Commercialization Time
5.8 Market Competitive Analysis
5.8.1 Global Diesel Engines Market CR5 and HHI
5.8.2 2023 Diesel Engines Tier 1, Tier 2, and Tier 3
6 Diesel Engines Market by Type
6.1 Global Diesel Engines Revenue by Type
6.1.1 Global Diesel Engines Revenue by Type (2019 VS 2023 VS 2030)
6.1.2 Global Diesel Engines Revenue by Type (2019-2030) & (US$ Million)
6.1.3 Global Diesel Engines Revenue Market Share by Type (2019-2030)
6.2 Global Diesel Engines Sales by Type
6.2.1 Global Diesel Engines Sales by Type (2019 VS 2023 VS 2030)
6.2.2 Global Diesel Engines Sales by Type (2019-2030) & (K Units)
6.2.3 Global Diesel Engines Sales Market Share by Type (2019-2030)
6.3 Global Diesel Engines Price by Type
7 Diesel Engines Market by Application
7.1 Global Diesel Engines Revenue by Application
7.1.1 Global Diesel Engines Revenue by Application (2019 VS 2023 VS 2030)
7.1.2 Global Diesel Engines Revenue by Application (2019-2030) & (US$ Million)
7.1.3 Global Diesel Engines Revenue Market Share by Application (2019-2030)
7.2 Global Diesel Engines Sales by Application
7.2.1 Global Diesel Engines Sales by Application (2019 VS 2023 VS 2030)
7.2.2 Global Diesel Engines Sales by Application (2019-2030) & (K Units)
7.2.3 Global Diesel Engines Sales Market Share by Application (2019-2030)
7.3 Global Diesel Engines Price by Application
8 Company Profiles
8.1 Cummins
8.1.1 Cummins Comapny Information
8.1.2 Cummins Business Overview
8.1.3 Cummins Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.1.4 Cummins Diesel Engines Product Portfolio
8.1.5 Cummins Recent Developments
8.2 Caterpiller
8.2.1 Caterpiller Comapny Information
8.2.2 Caterpiller Business Overview
8.2.3 Caterpiller Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.2.4 Caterpiller Diesel Engines Product Portfolio
8.2.5 Caterpiller Recent Developments
8.3 Daimler
8.3.1 Daimler Comapny Information
8.3.2 Daimler Business Overview
8.3.3 Daimler Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.3.4 Daimler Diesel Engines Product Portfolio
8.3.5 Daimler Recent Developments
8.4 MAN
8.4.1 MAN Comapny Information
8.4.2 MAN Business Overview
8.4.3 MAN Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.4.4 MAN Diesel Engines Product Portfolio
8.4.5 MAN Recent Developments
8.5 VOLVO
8.5.1 VOLVO Comapny Information
8.5.2 VOLVO Business Overview
8.5.3 VOLVO Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.5.4 VOLVO Diesel Engines Product Portfolio
8.5.5 VOLVO Recent Developments
8.6 MHI
8.6.1 MHI Comapny Information
8.6.2 MHI Business Overview
8.6.3 MHI Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.6.4 MHI Diesel Engines Product Portfolio
8.6.5 MHI Recent Developments
8.7 Deutz
8.7.1 Deutz Comapny Information
8.7.2 Deutz Business Overview
8.7.3 Deutz Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.7.4 Deutz Diesel Engines Product Portfolio
8.7.5 Deutz Recent Developments
8.8 Yanmar
8.8.1 Yanmar Comapny Information
8.8.2 Yanmar Business Overview
8.8.3 Yanmar Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.8.4 Yanmar Diesel Engines Product Portfolio
8.8.5 Yanmar Recent Developments
8.9 Kubota
8.9.1 Kubota Comapny Information
8.9.2 Kubota Business Overview
8.9.3 Kubota Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.9.4 Kubota Diesel Engines Product Portfolio
8.9.5 Kubota Recent Developments
8.10 Weichai
8.10.1 Weichai Comapny Information
8.10.2 Weichai Business Overview
8.10.3 Weichai Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.10.4 Weichai Diesel Engines Product Portfolio
8.10.5 Weichai Recent Developments
8.11 Quanchai
8.11.1 Quanchai Comapny Information
8.11.2 Quanchai Business Overview
8.11.3 Quanchai Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.11.4 Quanchai Diesel Engines Product Portfolio
8.11.5 Quanchai Recent Developments
8.12 Changchai
8.12.1 Changchai Comapny Information
8.12.2 Changchai Business Overview
8.12.3 Changchai Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.12.4 Changchai Diesel Engines Product Portfolio
8.12.5 Changchai Recent Developments
8.13 Yunnei Power
8.13.1 Yunnei Power Comapny Information
8.13.2 Yunnei Power Business Overview
8.13.3 Yunnei Power Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.13.4 Yunnei Power Diesel Engines Product Portfolio
8.13.5 Yunnei Power Recent Developments
8.14 FAW
8.14.1 FAW Comapny Information
8.14.2 FAW Business Overview
8.14.3 FAW Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.14.4 FAW Diesel Engines Product Portfolio
8.14.5 FAW Recent Developments
8.15 Kohler
8.15.1 Kohler Comapny Information
8.15.2 Kohler Business Overview
8.15.3 Kohler Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.15.4 Kohler Diesel Engines Product Portfolio
8.15.5 Kohler Recent Developments
8.16 DFAC
8.16.1 DFAC Comapny Information
8.16.2 DFAC Business Overview
8.16.3 DFAC Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.16.4 DFAC Diesel Engines Product Portfolio
8.16.5 DFAC Recent Developments
8.17 Yuchai
8.17.1 Yuchai Comapny Information
8.17.2 Yuchai Business Overview
8.17.3 Yuchai Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.17.4 Yuchai Diesel Engines Product Portfolio
8.17.5 Yuchai Recent Developments
8.18 FOTON
8.18.1 FOTON Comapny Information
8.18.2 FOTON Business Overview
8.18.3 FOTON Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.18.4 FOTON Diesel Engines Product Portfolio
8.18.5 FOTON Recent Developments
8.19 CNHTC
8.19.1 CNHTC Comapny Information
8.19.2 CNHTC Business Overview
8.19.3 CNHTC Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.19.4 CNHTC Diesel Engines Product Portfolio
8.19.5 CNHTC Recent Developments
8.20 JMC
8.20.1 JMC Comapny Information
8.20.2 JMC Business Overview
8.20.3 JMC Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.20.4 JMC Diesel Engines Product Portfolio
8.20.5 JMC Recent Developments
8.21 Hatz
8.21.1 Hatz Comapny Information
8.21.2 Hatz Business Overview
8.21.3 Hatz Diesel Engines Sales, Revenue, Price and Gross Margin (2019-2024)
8.21.4 Hatz Diesel Engines Product Portfolio
8.21.5 Hatz Recent Developments
9 North America
9.1 North America Diesel Engines Market Size by Type
9.1.1 North America Diesel Engines Revenue by Type (2019-2030)
9.1.2 North America Diesel Engines Sales by Type (2019-2030)
9.1.3 North America Diesel Engines Price by Type (2019-2030)
9.2 North America Diesel Engines Market Size by Application
9.2.1 North America Diesel Engines Revenue by Application (2019-2030)
9.2.2 North America Diesel Engines Sales by Application (2019-2030)
9.2.3 North America Diesel Engines Price by Application (2019-2030)
9.3 North America Diesel Engines Market Size by Country
9.3.1 North America Diesel Engines Revenue Grow Rate by Country (2019 VS 2023 VS 2030)
9.3.2 North America Diesel Engines Sales by Country (2019 VS 2023 VS 2030)
9.3.3 North America Diesel Engines Price by Country (2019-2030)
9.3.4 U.S.
9.3.5 Canada
10 Europe
10.1 Europe Diesel Engines Market Size by Type
10.1.1 Europe Diesel Engines Revenue by Type (2019-2030)
10.1.2 Europe Diesel Engines Sales by Type (2019-2030)
10.1.3 Europe Diesel Engines Price by Type (2019-2030)
10.2 Europe Diesel Engines Market Size by Application
10.2.1 Europe Diesel Engines Revenue by Application (2019-2030)
10.2.2 Europe Diesel Engines Sales by Application (2019-2030)
10.2.3 Europe Diesel Engines Price by Application (2019-2030)
10.3 Europe Diesel Engines Market Size by Country
10.3.1 Europe Diesel Engines Revenue Grow Rate by Country (2019 VS 2023 VS 2030)
10.3.2 Europe Diesel Engines Sales by Country (2019 VS 2023 VS 2030)
10.3.3 Europe Diesel Engines Price by Country (2019-2030)
10.3.4 Germany
10.3.5 France
10.3.6 U.K.
10.3.7 Italy
10.3.8 Russia
11 China
11.1 China Diesel Engines Market Size by Type
11.1.1 China Diesel Engines Revenue by Type (2019-2030)
11.1.2 China Diesel Engines Sales by Type (2019-2030)
11.1.3 China Diesel Engines Price by Type (2019-2030)
11.2 China Diesel Engines Market Size by Application
11.2.1 China Diesel Engines Revenue by Application (2019-2030)
11.2.2 China Diesel Engines Sales by Application (2019-2030)
11.2.3 China Diesel Engines Price by Application (2019-2030)
12 Asia (Excluding China)
12.1 Asia Diesel Engines Market Size by Type
12.1.1 Asia Diesel Engines Revenue by Type (2019-2030)
12.1.2 Asia Diesel Engines Sales by Type (2019-2030)
12.1.3 Asia Diesel Engines Price by Type (2019-2030)
12.2 Asia Diesel Engines Market Size by Application
12.2.1 Asia Diesel Engines Revenue by Application (2019-2030)
12.2.2 Asia Diesel Engines Sales by Application (2019-2030)
12.2.3 Asia Diesel Engines Price by Application (2019-2030)
12.3 Asia Diesel Engines Market Size by Country
12.3.1 Asia Diesel Engines Revenue Grow Rate by Country (2019 VS 2023 VS 2030)
12.3.2 Asia Diesel Engines Sales by Country (2019 VS 2023 VS 2030)
12.3.3 Asia Diesel Engines Price by Country (2019-2030)
12.3.4 Japan
12.3.5 South Korea
12.3.6 India
12.3.7 Australia
12.3.8 China Taiwan
12.3.9 Southeast Asia
13 Middle East, Africa and Latin America
13.1 Middle East, Africa and Latin America Diesel Engines Market Size by Type
13.1.1 Middle East, Africa and Latin America Diesel Engines Revenue by Type (2019-2030)
13.1.2 Middle East, Africa and Latin America Diesel Engines Sales by Type (2019-2030)
13.1.3 Middle East, Africa and Latin America Diesel Engines Price by Type (2019-2030)
13.2 Middle East, Africa and Latin America Diesel Engines Market Size by Application
13.2.1 Middle East, Africa and Latin America Diesel Engines Revenue by Application (2019-2030)
13.2.2 Middle East, Africa and Latin America Diesel Engines Sales by Application (2019-2030)
13.2.3 Middle East, Africa and Latin America Diesel Engines Price by Application (2019-2030)
13.3 Middle East, Africa and Latin America Diesel Engines Market Size by Country
13.3.1 Middle East, Africa and Latin America Diesel Engines Revenue Grow Rate by Country (2019 VS 2023 VS 2030)
13.3.2 Middle East, Africa and Latin America Diesel Engines Sales by Country (2019 VS 2023 VS 2030)
13.3.3 Middle East, Africa and Latin America Diesel Engines Price by Country (2019-2030)
13.3.4 Mexico
13.3.5 Brazil
13.3.6 Israel
13.3.7 Argentina
13.3.8 Colombia
13.3.9 Turkey
13.3.10 Saudi Arabia
13.3.11 UAE
14 Value Chain and Sales Channels Analysis
14.1 Diesel Engines Value Chain Analysis
14.1.1 Diesel Engines Key Raw Materials
14.1.2 Raw Materials Key Suppliers
14.1.3 Manufacturing Cost Structure
14.1.4 Diesel Engines Production Mode & Process
14.2 Diesel Engines Sales Channels Analysis
14.2.1 Direct Comparison with Distribution Share
14.2.2 Diesel Engines Distributors
14.2.3 Diesel Engines Customers
15 Concluding Insights
16 Appendix
16.1 Reasons for Doing This Study
16.2 Research Methodology
16.3 Research Process
16.4 Authors List of This Report
16.5 Data Source
16.5.1 Secondary Sources
16.5.2 Primary Sources
16.6 Disclaimer

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