Selected research
Market Analysis & Forecast
Global Caliper Disc Brakes Market Analysis and Forecast 2026-2032
Market perspective
The global Caliper Disc Brakes market is projected to grow from US$ million in 2026 to US$ million by 2032, at a Compound Annual Growth Rate (CAGR) of % during the forecast period.
Caliper Disc Brakes's global sales reached XX (K Units) with a value of US$ XX Million, marking an change of XX% compared to the previous year. This performance has positioned Danfoss as the global sales leader, a title it has maintained for several consecutive years. Notably, Danfoss's performance in primary markets is also remarkable. In the Chinese market, sales were XX (K Units), a change of XX% from the previous year. In Europe, sales were XX (K Units), showing a year-on-year of XX%. In the US, sales were XX (K Units), a year-on-year change of XX%.
The major global manufacturers in the Caliper Disc Brakes market include Danfoss, Del-Jayess Industrial Services, DELLNER BUBENZER, Fujian Shangkun Gear Box Manufacture, Guangzhou Vita Industrial Manufacturing, Hangzhou Rainbow Auto Parts, Kobelt, Qingzhou Yongda Hydraulic Machinery and Shandong Toget Brake System Company, etc. In 2025, the top three vendors accounted for approximately % of the revenue.
Read the full market overview
In terms of production side, this report researches the Caliper Disc Brakes production, growth rate, market share by manufacturers and by region (region level and country level), from 2021 to 2026, and forecast to 2032.
In terms of consumption side, this report focuses on the sales of Caliper Disc Brakes by region (region level and country level), by Company, by Type and by Application. from 2021 to 2026 and forecast to 2032.
This report presents an overview of global market for Caliper Disc Brakes, capacity, output, revenue and price. Analyses of the global market trends, with historic market revenue or sales data for 2021 - 2025, estimates for 2026, and projections of CAGR through 2032.
This report researches the key producers of Caliper Disc Brakes, also provides the consumption of main regions and countries. Of the upcoming market potential for Caliper Disc Brakes, 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 Caliper Disc Brakes sales, revenue, market share and industry ranking of main manufacturers, data from 2021 to 2026. Identification of the major stakeholders in the global Caliper Disc Brakes 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 2021 to 2032. Evaluation and forecast the market size for Caliper Disc Brakes sales, projected growth trends, production technology, application and end-user industry.
Caliper Disc Brakes Segment by Company
Danfoss
Del-Jayess Industrial Services
DELLNER BUBENZER
Fujian Shangkun Gear Box Manufacture
Guangzhou Vita Industrial Manufacturing
Hangzhou Rainbow Auto Parts
Kobelt
Qingzhou Yongda Hydraulic Machinery
Shandong Toget Brake System Company
Caliper Disc Brakes Segment by Type
Fixed Clamp Disc Brake
Float Clamp Disc Brake
Caliper Disc Brakes Segment by Application
Automotive
Industrial
Others
Caliper Disc Brakes 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
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 Caliper Disc Brakes 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 Caliper Disc Brakes 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 Caliper Disc Brakes.
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: Caliper Disc Brakes 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 Caliper Disc Brakes 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 Caliper Disc Brakes 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, Caliper Disc Brakes sales, revenue, price, gross margin, and recent development, etc.
Chapter 9: North America 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: South America, Middle East and Africa 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.
More report detail
Tables and figures
Scope & coverage.
Types
- Fixed Clamp Disc Brake
- Float Clamp Disc Brake
Applications
- Automotive
- Industrial
- Others
Companies covered
- Danfoss
- Del-Jayess Industrial Services
- DELLNER BUBENZER
- Fujian Shangkun Gear Box Manufacture
- Guangzhou Vita Industrial Manufacturing
- Hangzhou Rainbow Auto Parts
- Kobelt
- Qingzhou Yongda Hydraulic Machinery
- Shandong Toget Brake System Company
Inside the report.
1 Market Overview
- 1.1 Product Definition
- 1.2 Caliper Disc Brakes Market by Type
- 1.2.1 Global Caliper Disc Brakes Market Size by Type, 2021 VS 2025 VS 2032
- 1.2.2 Fixed Clamp Disc Brake
- 1.2.3 Float Clamp Disc Brake
- 1.3 Caliper Disc Brakes Market by Application
- 1.3.1 Global Caliper Disc Brakes Market Size by Application, 2021 VS 2025 VS 2032
- 1.3.2 Automotive
- 1.3.3 Industrial
- 1.3.4 Others
- 1.4 Assumptions and Limitations
- 1.5 Study Goals and Objectives
2 Caliper Disc Brakes Market Dynamics
- 2.1 Caliper Disc Brakes Industry Trends
- 2.2 Caliper Disc Brakes Industry Drivers
- 2.3 Caliper Disc Brakes Industry Opportunities and Challenges
- 2.4 Caliper Disc Brakes Industry Restraints
3 Global Caliper Disc Brakes Production Overview
- 3.1 Global Caliper Disc Brakes Production Capacity (2021-2032)
- 3.2 Global Caliper Disc Brakes Production by Region: 2021 VS 2025 VS 2032
- 3.3 Global Caliper Disc Brakes Production by Region
- 3.3.1 Global Caliper Disc Brakes Production by Region (2021-2026)
- 3.3.2 Global Caliper Disc Brakes Production by Region (2027-2032)
- 3.3.3 Global Caliper Disc Brakes Production Market Share by Region (2021-2032)
- 3.4 North America
- 3.5 Europe
- 3.6 China
- 3.7 Japan
- 3.8 South Korea
- 3.9 India
4 Global Market Growth Prospects
- 4.1 Global Caliper Disc Brakes Revenue Estimates and Forecasts (2021-2032)
- 4.2 Global Caliper Disc Brakes Revenue by Region
- 4.2.1 Global Caliper Disc Brakes Revenue by Region: 2021 VS 2025 VS 2032
- 4.2.2 Global Caliper Disc Brakes Revenue by Region (2021-2026)
- 4.2.3 Global Caliper Disc Brakes Revenue by Region (2027-2032)
- 4.2.4 Global Caliper Disc Brakes Revenue Market Share by Region (2021-2032)
- 4.3 Global Caliper Disc Brakes Sales Estimates and Forecasts 2021-2032
- 4.4 Global Caliper Disc Brakes Sales by Region
- 4.4.1 Global Caliper Disc Brakes Sales by Region: 2021 VS 2025 VS 2032
- 4.4.2 Global Caliper Disc Brakes Sales by Region (2021-2026)
- 4.4.3 Global Caliper Disc Brakes Sales by Region (2027-2032)
- 4.4.4 Global Caliper Disc Brakes Sales Market Share by Region (2021-2032)
- 4.5 North America
- 4.6 Europe
- 4.7 China
- 4.8 Asia (Excluding China)
- 4.9 South America, Middle East and Africa
5 Market Competitive Landscape by Manufacturers
- 5.1 Global Caliper Disc Brakes Revenue by Manufacturers
- 5.1.1 Global Caliper Disc Brakes Revenue by Manufacturers (2021-2026)
- 5.1.2 Global Caliper Disc Brakes Revenue Market Share by Manufacturers (2021-2026)
- 5.1.3 Global Caliper Disc Brakes Manufacturers Revenue Share Top 10 and Top 5 in 2025
- 5.2 Global Caliper Disc Brakes Sales by Manufacturers
- 5.2.1 Global Caliper Disc Brakes Sales by Manufacturers (2021-2026)
- 5.2.2 Global Caliper Disc Brakes Sales Market Share by Manufacturers (2021-2026)
- 5.2.3 Global Caliper Disc Brakes Manufacturers Sales Share Top 10 and Top 5 in 2025
- 5.3 Global Caliper Disc Brakes Sales Price by Manufacturers (2021-2026)
- 5.4 Global Caliper Disc Brakes Key Manufacturers Ranking, 2024 VS 2025 VS 2026
- 5.5 Global Caliper Disc Brakes Key Manufacturers Manufacturing Sites & Headquarters
- 5.6 Global Caliper Disc Brakes Manufacturers, Product Type & Application
- 5.7 Global Caliper Disc Brakes Manufacturers Commercialization Time
- 5.8 Market Competitive Analysis
- 5.8.1 Global Caliper Disc Brakes Market CR5 and HHI
- 5.8.2 2025 Caliper Disc Brakes Tier 1, Tier 2, and Tier 3
6 Caliper Disc Brakes Market by Type
- 6.1 Global Caliper Disc Brakes Revenue by Type
- 6.1.1 Global Caliper Disc Brakes Revenue by Type (2021-2032) & (US$ Million)
- 6.1.2 Global Caliper Disc Brakes Revenue Market Share by Type (2021-2032)
- 6.2 Global Caliper Disc Brakes Sales by Type
- 6.2.1 Global Caliper Disc Brakes Sales by Type (2021-2032) & (K Units)
- 6.2.2 Global Caliper Disc Brakes Sales Market Share by Type (2021-2032)
- 6.3 Global Caliper Disc Brakes Price by Type
7 Caliper Disc Brakes Market by Application
- 7.1 Global Caliper Disc Brakes Revenue by Application
- 7.1.1 Global Caliper Disc Brakes Revenue by Application (2021-2032) & (US$ Million)
- 7.1.2 Global Caliper Disc Brakes Revenue Market Share by Application (2021-2032)
- 7.2 Global Caliper Disc Brakes Sales by Application
- 7.2.1 Global Caliper Disc Brakes Sales by Application (2021-2032) & (K Units)
- 7.2.2 Global Caliper Disc Brakes Sales Market Share by Application (2021-2032)
- 7.3 Global Caliper Disc Brakes Price by Application
8 Company Profiles
- 8.1 Danfoss
- 8.1.1 Danfoss Company Information
- 8.1.2 Danfoss Business Overview
- 8.1.3 Danfoss Caliper Disc Brakes Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.1.4 Danfoss Caliper Disc Brakes Product Portfolio
- 8.1.5 Danfoss Recent Developments
- 8.2 Del-Jayess Industrial Services
- 8.2.1 Del-Jayess Industrial Services Company Information
- 8.2.2 Del-Jayess Industrial Services Business Overview
- 8.2.3 Del-Jayess Industrial Services Caliper Disc Brakes Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.2.4 Del-Jayess Industrial Services Caliper Disc Brakes Product Portfolio
- 8.2.5 Del-Jayess Industrial Services Recent Developments
- 8.3 DELLNER BUBENZER
- 8.3.1 DELLNER BUBENZER Company Information
- 8.3.2 DELLNER BUBENZER Business Overview
- 8.3.3 DELLNER BUBENZER Caliper Disc Brakes Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.3.4 DELLNER BUBENZER Caliper Disc Brakes Product Portfolio
- 8.3.5 DELLNER BUBENZER Recent Developments
- 8.4 Fujian Shangkun Gear Box Manufacture
- 8.4.1 Fujian Shangkun Gear Box Manufacture Company Information
- 8.4.2 Fujian Shangkun Gear Box Manufacture Business Overview
- 8.4.3 Fujian Shangkun Gear Box Manufacture Caliper Disc Brakes Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.4.4 Fujian Shangkun Gear Box Manufacture Caliper Disc Brakes Product Portfolio
- 8.4.5 Fujian Shangkun Gear Box Manufacture Recent Developments
- 8.5 Guangzhou Vita Industrial Manufacturing
- 8.5.1 Guangzhou Vita Industrial Manufacturing Company Information
- 8.5.2 Guangzhou Vita Industrial Manufacturing Business Overview
- 8.5.3 Guangzhou Vita Industrial Manufacturing Caliper Disc Brakes Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.5.4 Guangzhou Vita Industrial Manufacturing Caliper Disc Brakes Product Portfolio
- 8.5.5 Guangzhou Vita Industrial Manufacturing Recent Developments
- 8.6 Hangzhou Rainbow Auto Parts
- 8.6.1 Hangzhou Rainbow Auto Parts Company Information
- 8.6.2 Hangzhou Rainbow Auto Parts Business Overview
- 8.6.3 Hangzhou Rainbow Auto Parts Caliper Disc Brakes Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.6.4 Hangzhou Rainbow Auto Parts Caliper Disc Brakes Product Portfolio
- 8.6.5 Hangzhou Rainbow Auto Parts Recent Developments
- 8.7 Kobelt
- 8.7.1 Kobelt Company Information
- 8.7.2 Kobelt Business Overview
- 8.7.3 Kobelt Caliper Disc Brakes Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.7.4 Kobelt Caliper Disc Brakes Product Portfolio
- 8.7.5 Kobelt Recent Developments
- 8.8 Qingzhou Yongda Hydraulic Machinery
- 8.8.1 Qingzhou Yongda Hydraulic Machinery Company Information
- 8.8.2 Qingzhou Yongda Hydraulic Machinery Business Overview
- 8.8.3 Qingzhou Yongda Hydraulic Machinery Caliper Disc Brakes Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.8.4 Qingzhou Yongda Hydraulic Machinery Caliper Disc Brakes Product Portfolio
- 8.8.5 Qingzhou Yongda Hydraulic Machinery Recent Developments
- 8.9 Shandong Toget Brake System Company
- 8.9.1 Shandong Toget Brake System Company Company Information
- 8.9.2 Shandong Toget Brake System Company Business Overview
- 8.9.3 Shandong Toget Brake System Company Caliper Disc Brakes Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.9.4 Shandong Toget Brake System Company Caliper Disc Brakes Product Portfolio
- 8.9.5 Shandong Toget Brake System Company Recent Developments
9 North America
- 9.1 North America Caliper Disc Brakes Market Size by Type
- 9.1.1 North America Caliper Disc Brakes Revenue by Type (2021-2032)
- 9.1.2 North America Caliper Disc Brakes Sales by Type (2021-2032)
- 9.1.3 North America Caliper Disc Brakes Price by Type (2021-2032)
- 9.2 North America Caliper Disc Brakes Market Size by Application
- 9.2.1 North America Caliper Disc Brakes Revenue by Application (2021-2032)
- 9.2.2 North America Caliper Disc Brakes Sales by Application (2021-2032)
- 9.2.3 North America Caliper Disc Brakes Price by Application (2021-2032)
- 9.3 North America Caliper Disc Brakes Market Size by Country
- 9.3.1 North America Caliper Disc Brakes Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 9.3.2 North America Caliper Disc Brakes Sales by Country (2021 VS 2025 VS 2032)
- 9.3.3 North America Caliper Disc Brakes Price by Country (2021-2032)
- 9.3.4 United States
- 9.3.5 Canada
- 9.3.6 Mexico
10 Europe
- 10.1 Europe Caliper Disc Brakes Market Size by Type
- 10.1.1 Europe Caliper Disc Brakes Revenue by Type (2021-2032)
- 10.1.2 Europe Caliper Disc Brakes Sales by Type (2021-2032)
- 10.1.3 Europe Caliper Disc Brakes Price by Type (2021-2032)
- 10.2 Europe Caliper Disc Brakes Market Size by Application
- 10.2.1 Europe Caliper Disc Brakes Revenue by Application (2021-2032)
- 10.2.2 Europe Caliper Disc Brakes Sales by Application (2021-2032)
- 10.2.3 Europe Caliper Disc Brakes Price by Application (2021-2032)
- 10.3 Europe Caliper Disc Brakes Market Size by Country
- 10.3.1 Europe Caliper Disc Brakes Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 10.3.2 Europe Caliper Disc Brakes Sales by Country (2021 VS 2025 VS 2032)
- 10.3.3 Europe Caliper Disc Brakes Price by Country (2021-2032)
- 10.3.4 Germany
- 10.3.5 France
- 10.3.6 U.K.
- 10.3.7 Italy
- 10.3.8 Russia
- 10.3.9 Spain
- 10.3.10 Netherlands
- 10.3.11 Switzerland
- 10.3.12 Sweden
11 China
- 11.1 China Caliper Disc Brakes Market Size by Type
- 11.1.1 China Caliper Disc Brakes Revenue by Type (2021-2032)
- 11.1.2 China Caliper Disc Brakes Sales by Type (2021-2032)
- 11.1.3 China Caliper Disc Brakes Price by Type (2021-2032)
- 11.2 China Caliper Disc Brakes Market Size by Application
- 11.2.1 China Caliper Disc Brakes Revenue by Application (2021-2032)
- 11.2.2 China Caliper Disc Brakes Sales by Application (2021-2032)
- 11.2.3 China Caliper Disc Brakes Price by Application (2021-2032)
12 Asia (Excluding China)
- 12.1 Asia Caliper Disc Brakes Market Size by Type
- 12.1.1 Asia Caliper Disc Brakes Revenue by Type (2021-2032)
- 12.1.2 Asia Caliper Disc Brakes Sales by Type (2021-2032)
- 12.1.3 Asia Caliper Disc Brakes Price by Type (2021-2032)
- 12.2 Asia Caliper Disc Brakes Market Size by Application
- 12.2.1 Asia Caliper Disc Brakes Revenue by Application (2021-2032)
- 12.2.2 Asia Caliper Disc Brakes Sales by Application (2021-2032)
- 12.2.3 Asia Caliper Disc Brakes Price by Application (2021-2032)
- 12.3 Asia Caliper Disc Brakes Market Size by Country
- 12.3.1 Asia Caliper Disc Brakes Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 12.3.2 Asia Caliper Disc Brakes Sales by Country (2021 VS 2025 VS 2032)
- 12.3.3 Asia Caliper Disc Brakes Price by Country (2021-2032)
- 12.3.4 Japan
- 12.3.5 South Korea
- 12.3.6 India
- 12.3.7 Australia
- 12.3.8 Taiwan
- 12.3.9 Southeast Asia
13 South America, Middle East and Africa
- 13.1 SAMEA Caliper Disc Brakes Market Size by Type
- 13.1.1 SAMEA Caliper Disc Brakes Revenue by Type (2021-2032)
- 13.1.2 SAMEA Caliper Disc Brakes Sales by Type (2021-2032)
- 13.1.3 SAMEA Caliper Disc Brakes Price by Type (2021-2032)
- 13.2 SAMEA Caliper Disc Brakes Market Size by Application
- 13.2.1 SAMEA Caliper Disc Brakes Revenue by Application (2021-2032)
- 13.2.2 SAMEA Caliper Disc Brakes Sales by Application (2021-2032)
- 13.2.3 SAMEA Caliper Disc Brakes Price by Application (2021-2032)
- 13.3 SAMEA Caliper Disc Brakes Market Size by Country
- 13.3.1 SAMEA Caliper Disc Brakes Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 13.3.2 SAMEA Caliper Disc Brakes Sales by Country (2021 VS 2025 VS 2032)
- 13.3.3 SAMEA Caliper Disc Brakes Price by Country (2021-2032)
- 13.3.4 Brazil
- 13.3.5 Argentina
- 13.3.6 Chile
- 13.3.7 Colombia
- 13.3.8 Peru
- 13.3.9 Saudi Arabia
- 13.3.10 Israel
- 13.3.11 UAE
- 13.3.12 Turkey
- 13.3.13 Iran
- 13.3.14 Egypt
14 Value Chain and Sales Channels Analysis
- 14.1 Caliper Disc Brakes Value Chain Analysis
- 14.1.1 Caliper Disc Brakes Key Raw Materials
- 14.1.2 Raw Materials Key Suppliers
- 14.1.3 Manufacturing Cost Structure
- 14.1.4 Caliper Disc Brakes Production Mode & Process
- 14.2 Caliper Disc Brakes Sales Channels Analysis
- 14.2.1 Direct Comparison with Distribution Share
- 14.2.2 Caliper Disc Brakes Distributors
- 14.2.3 Caliper Disc Brakes 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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