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Industry Research
Direct Current Brushless Coreless Motor Industry Research Report 2026
Market perspective
The global Direct Current Brushless Coreless Motor market was valued at US$ million in 2025 and is projected to reach US$ million by 2032, implying a CAGR of % over 2026–2032.
The North America market for Direct Current Brushless Coreless Motor is forecast to increase from US$ million in 2026 to US$ million by 2032, corresponding to a CAGR of % over 2026–2032.
The Europe market for Direct Current Brushless Coreless Motor is projected to rise from US$ million in 2026 to US$ million by 2032, registering a CAGR of % over 2026–2032.
Read the full market overview
The Asia Pacific market for Direct Current Brushless Coreless Motor is expected to grow from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026–2032.
Leading global manufacturers of Direct Current Brushless Coreless Motor include , among others. In 2025, the top three vendors together accounted for approximately % of global revenue.
Report Scope
This report quantifies the global Direct Current Brushless Coreless Motor market in revenue (US$ million) and, where applicable, sales volume (k units), using 2025 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of types and applications, harmonizes vendor attribution, and presents comparable time series by company, type, application, and region/country, including indicative price bands (US$/k units) and concentration ratios (CR5/CR10).
The outputs are intended to support strategy development, budgeting, and performance benchmarking for manufacturers, new entrants, channel partners, and investors; the report also reviews technology shifts and notable product introductions relevant to Direct Current Brushless Coreless Motor.
Key Companies & Market Share Insights
This section profiles leading manufacturers, combining 2021–2025 results with a 2026–2032 outlook. It reports revenue, market share, price bands, product and application mix, regional and channel mix, and key developments (M&A, capacity additions, certifications). It also provides global revenue, average price, and—where applicable—sales volume by manufacturer, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
Direct Current Brushless Coreless Motor Market by Company
Faulhaber
Portescap
Allied Motion
Maxon Motor
Nidec Copal Corporation
Adamant Namiki Precision Jewel
Constar Micromotor
Jiangsu Leili Motor
Topband
MOONS'
Zhaowei Electromechanical
Assun Motor
Citizen Micro
Citizen Chiba Precision
WKX MOTOR
Sinbad Motor
Dongguan Zhonghanxin Motor
Vishan Technology
Direct Current Brushless Coreless Motor Segment by Type
Φ3–Φ6 mm
Φ7–Φ12 mm
Φ13–Φ16 mm
Φ17–Φ22 mm
Φ23–Φ30 mm
Φ31–Φ40 mm
Φ41–Φ50 mm
>Φ50 mm
Direct Current Brushless Coreless Motor Segment by Application
Medical Device
Consumer Electronics
Power Tools
Industrial Automation
Robot
Direct Current Brushless Coreless Motor Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
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 Direct Current Brushless Coreless Motor 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 Direct Current Brushless Coreless Motor 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 Direct Current Brushless Coreless Motor.
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 Direct Current Brushless Coreless Motor 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 Direct Current Brushless Coreless Motor 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 Direct Current Brushless Coreless Motor 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.
More report detail
Tables and figures
Scope & coverage.
Types
- Φ3–Φ6 mm
- Φ7–Φ12 mm
- Φ13–Φ16 mm
- Φ17–Φ22 mm
- Φ23–Φ30 mm
- Φ31–Φ40 mm
- Φ41–Φ50 mm
- >Φ50 mm
Applications
- Medical Device
- Consumer Electronics
- Power Tools
- Industrial Automation
- Robot
Companies covered
- Faulhaber
- Portescap
- Allied Motion
- Maxon Motor
- Nidec Copal Corporation
- Adamant Namiki Precision Jewel
- Constar Micromotor
- Jiangsu Leili Motor
- Topband
- MOONS'
- Zhaowei Electromechanical
- Assun Motor
- Citizen Micro
- Citizen Chiba Precision
- WKX MOTOR
- Sinbad Motor
- Dongguan Zhonghanxin Motor
- Vishan Technology
Inside 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 Direct Current Brushless Coreless Motor by Type
- 2.2.1 Market Value Comparison by Type (2021 VS 2025 VS 2032) & (US$ Million)
- 2.2.2 Φ3–Φ6 mm
- 2.2.3 Φ7–Φ12 mm
- 2.2.4 Φ13–Φ16 mm
- 2.2.5 Φ17–Φ22 mm
- 2.2.6 Φ23–Φ30 mm
- 2.2.7 Φ31–Φ40 mm
- 2.2.8 Φ41–Φ50 mm
- 2.2.9 >Φ50 mm
- 2.3 Direct Current Brushless Coreless Motor by Application
- 2.3.1 Market Value Comparison by Application (2021 VS 2025 VS 2032) & (US$ Million)
- 2.3.2 Medical Device
- 2.3.3 Consumer Electronics
- 2.3.4 Power Tools
- 2.3.5 Industrial Automation
- 2.3.6 Robot
- 2.4 Global Market Growth Prospects
- 2.4.1 Global Direct Current Brushless Coreless Motor Production Value Estimates and Forecasts (2021-2032)
- 2.4.2 Global Direct Current Brushless Coreless Motor Production Capacity Estimates and Forecasts (2021-2032)
- 2.4.3 Global Direct Current Brushless Coreless Motor Production Estimates and Forecasts (2021-2032)
- 2.4.4 Global Direct Current Brushless Coreless Motor Market Average Price (2021-2032)
3 Market Competitive Landscape by Manufacturers
- 3.1 Global Direct Current Brushless Coreless Motor Production by Manufacturers (2021-2026)
- 3.2 Global Direct Current Brushless Coreless Motor Production Value by Manufacturers (2021-2026)
- 3.3 Global Direct Current Brushless Coreless Motor Average Price by Manufacturers (2021-2026)
- 3.4 Global Direct Current Brushless Coreless Motor Industry Manufacturers Ranking, 2024 VS 2025 VS 2026
- 3.5 Global Direct Current Brushless Coreless Motor Key Manufacturers, Manufacturing Sites & Headquarters
- 3.6 Global Direct Current Brushless Coreless Motor Manufacturers, Product Type & Application
- 3.7 Global Direct Current Brushless Coreless Motor Manufacturers Established Date
- 3.8 Global Direct Current Brushless Coreless Motor Market CR5 and HHI
- 3.9 Global Manufacturers Mergers & Acquisition
4 Manufacturers Profiled
- 4.1 Faulhaber
- 4.1.1 Faulhaber Direct Current Brushless Coreless Motor Company Information
- 4.1.2 Faulhaber Direct Current Brushless Coreless Motor Business Overview
- 4.1.3 Faulhaber Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.1.4 Faulhaber Product Portfolio
- 4.1.5 Faulhaber Recent Developments
- 4.2 Portescap
- 4.2.1 Portescap Direct Current Brushless Coreless Motor Company Information
- 4.2.2 Portescap Direct Current Brushless Coreless Motor Business Overview
- 4.2.3 Portescap Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.2.4 Portescap Product Portfolio
- 4.2.5 Portescap Recent Developments
- 4.3 Allied Motion
- 4.3.1 Allied Motion Direct Current Brushless Coreless Motor Company Information
- 4.3.2 Allied Motion Direct Current Brushless Coreless Motor Business Overview
- 4.3.3 Allied Motion Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.3.4 Allied Motion Product Portfolio
- 4.3.5 Allied Motion Recent Developments
- 4.4 Maxon Motor
- 4.4.1 Maxon Motor Direct Current Brushless Coreless Motor Company Information
- 4.4.2 Maxon Motor Direct Current Brushless Coreless Motor Business Overview
- 4.4.3 Maxon Motor Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.4.4 Maxon Motor Product Portfolio
- 4.4.5 Maxon Motor Recent Developments
- 4.5 Nidec Copal Corporation
- 4.5.1 Nidec Copal Corporation Direct Current Brushless Coreless Motor Company Information
- 4.5.2 Nidec Copal Corporation Direct Current Brushless Coreless Motor Business Overview
- 4.5.3 Nidec Copal Corporation Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.5.4 Nidec Copal Corporation Product Portfolio
- 4.5.5 Nidec Copal Corporation Recent Developments
- 4.6 Adamant Namiki Precision Jewel
- 4.6.1 Adamant Namiki Precision Jewel Direct Current Brushless Coreless Motor Company Information
- 4.6.2 Adamant Namiki Precision Jewel Direct Current Brushless Coreless Motor Business Overview
- 4.6.3 Adamant Namiki Precision Jewel Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.6.4 Adamant Namiki Precision Jewel Product Portfolio
- 4.6.5 Adamant Namiki Precision Jewel Recent Developments
- 4.7 Constar Micromotor
- 4.7.1 Constar Micromotor Direct Current Brushless Coreless Motor Company Information
- 4.7.2 Constar Micromotor Direct Current Brushless Coreless Motor Business Overview
- 4.7.3 Constar Micromotor Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.7.4 Constar Micromotor Product Portfolio
- 4.7.5 Constar Micromotor Recent Developments
- 4.8 Jiangsu Leili Motor
- 4.8.1 Jiangsu Leili Motor Direct Current Brushless Coreless Motor Company Information
- 4.8.2 Jiangsu Leili Motor Direct Current Brushless Coreless Motor Business Overview
- 4.8.3 Jiangsu Leili Motor Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.8.4 Jiangsu Leili Motor Product Portfolio
- 4.8.5 Jiangsu Leili Motor Recent Developments
- 4.9 Topband
- 4.9.1 Topband Direct Current Brushless Coreless Motor Company Information
- 4.9.2 Topband Direct Current Brushless Coreless Motor Business Overview
- 4.9.3 Topband Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.9.4 Topband Product Portfolio
- 4.9.5 Topband Recent Developments
- 4.10 MOONS'
- 4.10.1 MOONS' Direct Current Brushless Coreless Motor Company Information
- 4.10.2 MOONS' Direct Current Brushless Coreless Motor Business Overview
- 4.10.3 MOONS' Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.10.4 MOONS' Product Portfolio
- 4.10.5 MOONS' Recent Developments
- 4.11 Zhaowei Electromechanical
- 4.11.1 Zhaowei Electromechanical Direct Current Brushless Coreless Motor Company Information
- 4.11.2 Zhaowei Electromechanical Direct Current Brushless Coreless Motor Business Overview
- 4.11.3 Zhaowei Electromechanical Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.11.4 Zhaowei Electromechanical Product Portfolio
- 4.11.5 Zhaowei Electromechanical Recent Developments
- 4.12 Assun Motor
- 4.12.1 Assun Motor Direct Current Brushless Coreless Motor Company Information
- 4.12.2 Assun Motor Direct Current Brushless Coreless Motor Business Overview
- 4.12.3 Assun Motor Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.12.4 Assun Motor Product Portfolio
- 4.12.5 Assun Motor Recent Developments
- 4.13 Citizen Micro
- 4.13.1 Citizen Micro Direct Current Brushless Coreless Motor Company Information
- 4.13.2 Citizen Micro Direct Current Brushless Coreless Motor Business Overview
- 4.13.3 Citizen Micro Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.13.4 Citizen Micro Product Portfolio
- 4.13.5 Citizen Micro Recent Developments
- 4.14 Citizen Chiba Precision
- 4.14.1 Citizen Chiba Precision Direct Current Brushless Coreless Motor Company Information
- 4.14.2 Citizen Chiba Precision Direct Current Brushless Coreless Motor Business Overview
- 4.14.3 Citizen Chiba Precision Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.14.4 Citizen Chiba Precision Product Portfolio
- 4.14.5 Citizen Chiba Precision Recent Developments
- 4.15 WKX MOTOR
- 4.15.1 WKX MOTOR Direct Current Brushless Coreless Motor Company Information
- 4.15.2 WKX MOTOR Direct Current Brushless Coreless Motor Business Overview
- 4.15.3 WKX MOTOR Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.15.4 WKX MOTOR Product Portfolio
- 4.15.5 WKX MOTOR Recent Developments
- 4.16 Sinbad Motor
- 4.16.1 Sinbad Motor Direct Current Brushless Coreless Motor Company Information
- 4.16.2 Sinbad Motor Direct Current Brushless Coreless Motor Business Overview
- 4.16.3 Sinbad Motor Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.16.4 Sinbad Motor Product Portfolio
- 4.16.5 Sinbad Motor Recent Developments
- 4.17 Dongguan Zhonghanxin Motor
- 4.17.1 Dongguan Zhonghanxin Motor Direct Current Brushless Coreless Motor Company Information
- 4.17.2 Dongguan Zhonghanxin Motor Direct Current Brushless Coreless Motor Business Overview
- 4.17.3 Dongguan Zhonghanxin Motor Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.17.4 Dongguan Zhonghanxin Motor Product Portfolio
- 4.17.5 Dongguan Zhonghanxin Motor Recent Developments
- 4.18 Vishan Technology
- 4.18.1 Vishan Technology Direct Current Brushless Coreless Motor Company Information
- 4.18.2 Vishan Technology Direct Current Brushless Coreless Motor Business Overview
- 4.18.3 Vishan Technology Direct Current Brushless Coreless Motor Production, Value and Gross Margin (2021-2026)
- 4.18.4 Vishan Technology Product Portfolio
- 4.18.5 Vishan Technology Recent Developments
5 Global Direct Current Brushless Coreless Motor Production by Region
- 5.1 Global Direct Current Brushless Coreless Motor Production Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.2 Global Direct Current Brushless Coreless Motor Production by Region: 2021-2032
- 5.2.1 Global Direct Current Brushless Coreless Motor Production by Region: 2021-2026
- 5.2.2 Global Direct Current Brushless Coreless Motor Production Forecast by Region (2027-2032)
- 5.3 Global Direct Current Brushless Coreless Motor Production Value Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 5.4 Global Direct Current Brushless Coreless Motor Production Value by Region: 2021-2032
- 5.4.1 Global Direct Current Brushless Coreless Motor Production Value by Region: 2021-2026
- 5.4.2 Global Direct Current Brushless Coreless Motor Production Value Forecast by Region (2027-2032)
- 5.5 Global Direct Current Brushless Coreless Motor Market Price Analysis by Region (2021-2026)
- 5.6 Global Direct Current Brushless Coreless Motor Production and Value, YOY Growth
- 5.6.1 North America Direct Current Brushless Coreless Motor Production Value Estimates and Forecasts (2021-2032)
- 5.6.2 Europe Direct Current Brushless Coreless Motor Production Value Estimates and Forecasts (2021-2032)
- 5.6.3 China Direct Current Brushless Coreless Motor Production Value Estimates and Forecasts (2021-2032)
- 5.6.4 Japan Direct Current Brushless Coreless Motor Production Value Estimates and Forecasts (2021-2032)
- 5.6.5 South Korea Direct Current Brushless Coreless Motor Production Value Estimates and Forecasts (2021-2032)
6 Global Direct Current Brushless Coreless Motor Consumption by Region
- 6.1 Global Direct Current Brushless Coreless Motor Consumption Estimates and Forecasts by Region: 2021 VS 2025 VS 2032
- 6.2 Global Direct Current Brushless Coreless Motor Consumption by Region (2021-2032)
- 6.2.1 Global Direct Current Brushless Coreless Motor Consumption by Region: 2021-2026
- 6.2.2 Global Direct Current Brushless Coreless Motor Forecasted Consumption by Region (2027-2032)
- 6.3 North America
- 6.3.1 North America Direct Current Brushless Coreless Motor Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.3.2 North America Direct Current Brushless Coreless Motor Consumption by Country (2021-2032)
- 6.3.3 United States
- 6.3.4 Canada
- 6.3.5 Mexico
- 6.4 Europe
- 6.4.1 Europe Direct Current Brushless Coreless Motor Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.4.2 Europe Direct Current Brushless Coreless Motor Consumption by Country (2021-2032)
- 6.4.3 Germany
- 6.4.4 France
- 6.4.5 U.K.
- 6.4.6 Italy
- 6.4.7 Russia
- 6.4.8 Spain
- 6.4.9 Netherlands
- 6.4.10 Switzerland
- 6.4.11 Sweden
- 6.4.12 Poland
- 6.5 Asia Pacific
- 6.5.1 Asia Pacific Direct Current Brushless Coreless Motor Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.5.2 Asia Pacific Direct Current Brushless Coreless Motor Consumption by Country (2021-2032)
- 6.5.3 China
- 6.5.4 Japan
- 6.5.5 South Korea
- 6.5.6 India
- 6.5.7 Australia
- 6.5.8 Taiwan
- 6.5.9 Southeast Asia
- 6.6 South America, Middle East & Africa
- 6.6.1 South America, Middle East & Africa Direct Current Brushless Coreless Motor Consumption Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.6.2 South America, Middle East & Africa Direct Current Brushless Coreless Motor Consumption by Country (2021-2032)
- 6.6.3 Brazil
- 6.6.4 Argentina
- 6.6.5 Chile
- 6.6.6 Turkey
- 6.6.7 GCC Countries
7 Segment by Type
- 7.1 Global Direct Current Brushless Coreless Motor Production by Type (2021-2032)
- 7.1.1 Global Direct Current Brushless Coreless Motor Production by Type (2021-2032) & (k units)
- 7.1.2 Global Direct Current Brushless Coreless Motor Production Market Share by Type (2021-2032)
- 7.2 Global Direct Current Brushless Coreless Motor Production Value by Type (2021-2032)
- 7.2.1 Global Direct Current Brushless Coreless Motor Production Value by Type (2021-2032) & (US$ Million)
- 7.2.2 Global Direct Current Brushless Coreless Motor Production Value Market Share by Type (2021-2032)
- 7.3 Global Direct Current Brushless Coreless Motor Price by Type (2021-2032)
8 Segment by Application
- 8.1 Global Direct Current Brushless Coreless Motor Production by Application (2021-2032)
- 8.1.1 Global Direct Current Brushless Coreless Motor Production by Application (2021-2032) & (k units)
- 8.1.2 Global Direct Current Brushless Coreless Motor Production Market Share by Application (2021-2032)
- 8.2 Global Direct Current Brushless Coreless Motor Production Value by Application (2021-2032)
- 8.2.1 Global Direct Current Brushless Coreless Motor Production Value by Application (2021-2032) & (US$ Million)
- 8.2.2 Global Direct Current Brushless Coreless Motor Production Value Market Share by Application (2021-2032)
- 8.3 Global Direct Current Brushless Coreless Motor Price by Application (2021-2032)
9 Value Chain and Sales Channels Analysis of the Market
- 9.1 Direct Current Brushless Coreless Motor Value Chain Analysis
- 9.1.1 Direct Current Brushless Coreless Motor Key Raw Materials
- 9.1.2 Raw Materials Key Suppliers
- 9.1.3 Direct Current Brushless Coreless Motor Production Mode & Process
- 9.2 Direct Current Brushless Coreless Motor Sales Channels Analysis
- 9.2.1 Direct Comparison with Distribution Share
- 9.2.2 Direct Current Brushless Coreless Motor Distributors
- 9.2.3 Direct Current Brushless Coreless Motor Customers
10 Global Direct Current Brushless Coreless Motor Analyzing Market Dynamics
- 10.1 Direct Current Brushless Coreless Motor Industry Trends
- 10.2 Direct Current Brushless Coreless Motor Industry Drivers
- 10.3 Direct Current Brushless Coreless Motor Industry Opportunities and Challenges
- 10.4 Direct Current Brushless Coreless Motor Industry Restraints
11 Report Conclusion
12 Disclaimer
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