Selected research
Market Analysis & Forecast
Global Decentralized Frequency Inverter Market Analysis and Forecast 2026-2032
Market perspective
The global Decentralized Frequency Inverter 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.
Decentralized Frequency Inverter'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 Toshiba International Corporation as the global sales leader, a title it has maintained for several consecutive years. Notably, Toshiba International Corporation'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 Decentralized Frequency Inverter market include Toshiba International Corporation, Fuji Electric, Danfoss, Siemens AG, Schneider Electric, Yaskawa Electric, Emerson Electric, ABB and Hitachi, 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 Decentralized Frequency Inverter 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 Decentralized Frequency Inverter 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 Decentralized Frequency Inverter, 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 Decentralized Frequency Inverter, also provides the consumption of main regions and countries. Of the upcoming market potential for Decentralized Frequency Inverter, 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 Decentralized Frequency Inverter sales, revenue, market share and industry ranking of main manufacturers, data from 2021 to 2026. Identification of the major stakeholders in the global Decentralized Frequency Inverter 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 Decentralized Frequency Inverter sales, projected growth trends, production technology, application and end-user industry.
Decentralized Frequency Inverter Segment by Company
Toshiba International Corporation
Fuji Electric
Danfoss
Siemens AG
Schneider Electric
Yaskawa Electric
Emerson Electric
ABB
Hitachi
Mitsubishi Electric Corporation
Decentralized Frequency Inverter Segment by Type
Low Voltage
Medium Voltage
High Voltage
Decentralized Frequency Inverter Segment by Application
Industrial
Logistics
Automobile
Other
Decentralized Frequency Inverter 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 Decentralized Frequency Inverter 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 Decentralized Frequency Inverter 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 Decentralized Frequency Inverter.
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: Decentralized Frequency Inverter 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 Decentralized Frequency Inverter 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 Decentralized Frequency Inverter 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, Decentralized Frequency Inverter 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
- Low Voltage
- Medium Voltage
- High Voltage
Applications
- Industrial
- Logistics
- Automobile
- Other
Companies covered
- Toshiba International Corporation
- Fuji Electric
- Danfoss
- Siemens AG
- Schneider Electric
- Yaskawa Electric
- Emerson Electric
- ABB
- Hitachi
- Mitsubishi Electric Corporation
Inside the report.
1 Market Overview
- 1.1 Product Definition
- 1.2 Decentralized Frequency Inverter Market by Type
- 1.2.1 Global Decentralized Frequency Inverter Market Size by Type, 2021 VS 2025 VS 2032
- 1.2.2 Low Voltage
- 1.2.3 Medium Voltage
- 1.2.4 High Voltage
- 1.3 Decentralized Frequency Inverter Market by Application
- 1.3.1 Global Decentralized Frequency Inverter Market Size by Application, 2021 VS 2025 VS 2032
- 1.3.2 Industrial
- 1.3.3 Logistics
- 1.3.4 Automobile
- 1.3.5 Other
- 1.4 Assumptions and Limitations
- 1.5 Study Goals and Objectives
2 Decentralized Frequency Inverter Market Dynamics
- 2.1 Decentralized Frequency Inverter Industry Trends
- 2.2 Decentralized Frequency Inverter Industry Drivers
- 2.3 Decentralized Frequency Inverter Industry Opportunities and Challenges
- 2.4 Decentralized Frequency Inverter Industry Restraints
3 Global Decentralized Frequency Inverter Production Overview
- 3.1 Global Decentralized Frequency Inverter Production Capacity (2021-2032)
- 3.2 Global Decentralized Frequency Inverter Production by Region: 2021 VS 2025 VS 2032
- 3.3 Global Decentralized Frequency Inverter Production by Region
- 3.3.1 Global Decentralized Frequency Inverter Production by Region (2021-2026)
- 3.3.2 Global Decentralized Frequency Inverter Production by Region (2027-2032)
- 3.3.3 Global Decentralized Frequency Inverter Production Market Share by Region (2021-2032)
- 3.4 North America
- 3.5 Europe
- 3.6 China
- 3.7 Japan
- 3.8 South Korea
4 Global Market Growth Prospects
- 4.1 Global Decentralized Frequency Inverter Revenue Estimates and Forecasts (2021-2032)
- 4.2 Global Decentralized Frequency Inverter Revenue by Region
- 4.2.1 Global Decentralized Frequency Inverter Revenue by Region: 2021 VS 2025 VS 2032
- 4.2.2 Global Decentralized Frequency Inverter Revenue by Region (2021-2026)
- 4.2.3 Global Decentralized Frequency Inverter Revenue by Region (2027-2032)
- 4.2.4 Global Decentralized Frequency Inverter Revenue Market Share by Region (2021-2032)
- 4.3 Global Decentralized Frequency Inverter Sales Estimates and Forecasts 2021-2032
- 4.4 Global Decentralized Frequency Inverter Sales by Region
- 4.4.1 Global Decentralized Frequency Inverter Sales by Region: 2021 VS 2025 VS 2032
- 4.4.2 Global Decentralized Frequency Inverter Sales by Region (2021-2026)
- 4.4.3 Global Decentralized Frequency Inverter Sales by Region (2027-2032)
- 4.4.4 Global Decentralized Frequency Inverter 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 Decentralized Frequency Inverter Revenue by Manufacturers
- 5.1.1 Global Decentralized Frequency Inverter Revenue by Manufacturers (2021-2026)
- 5.1.2 Global Decentralized Frequency Inverter Revenue Market Share by Manufacturers (2021-2026)
- 5.1.3 Global Decentralized Frequency Inverter Manufacturers Revenue Share Top 10 and Top 5 in 2025
- 5.2 Global Decentralized Frequency Inverter Sales by Manufacturers
- 5.2.1 Global Decentralized Frequency Inverter Sales by Manufacturers (2021-2026)
- 5.2.2 Global Decentralized Frequency Inverter Sales Market Share by Manufacturers (2021-2026)
- 5.2.3 Global Decentralized Frequency Inverter Manufacturers Sales Share Top 10 and Top 5 in 2025
- 5.3 Global Decentralized Frequency Inverter Sales Price by Manufacturers (2021-2026)
- 5.4 Global Decentralized Frequency Inverter Key Manufacturers Ranking, 2024 VS 2025 VS 2026
- 5.5 Global Decentralized Frequency Inverter Key Manufacturers Manufacturing Sites & Headquarters
- 5.6 Global Decentralized Frequency Inverter Manufacturers, Product Type & Application
- 5.7 Global Decentralized Frequency Inverter Manufacturers Commercialization Time
- 5.8 Market Competitive Analysis
- 5.8.1 Global Decentralized Frequency Inverter Market CR5 and HHI
- 5.8.2 2025 Decentralized Frequency Inverter Tier 1, Tier 2, and Tier 3
6 Decentralized Frequency Inverter Market by Type
- 6.1 Global Decentralized Frequency Inverter Revenue by Type
- 6.1.1 Global Decentralized Frequency Inverter Revenue by Type (2021-2032) & (US$ Million)
- 6.1.2 Global Decentralized Frequency Inverter Revenue Market Share by Type (2021-2032)
- 6.2 Global Decentralized Frequency Inverter Sales by Type
- 6.2.1 Global Decentralized Frequency Inverter Sales by Type (2021-2032) & (k units)
- 6.2.2 Global Decentralized Frequency Inverter Sales Market Share by Type (2021-2032)
- 6.3 Global Decentralized Frequency Inverter Price by Type
7 Decentralized Frequency Inverter Market by Application
- 7.1 Global Decentralized Frequency Inverter Revenue by Application
- 7.1.1 Global Decentralized Frequency Inverter Revenue by Application (2021-2032) & (US$ Million)
- 7.1.2 Global Decentralized Frequency Inverter Revenue Market Share by Application (2021-2032)
- 7.2 Global Decentralized Frequency Inverter Sales by Application
- 7.2.1 Global Decentralized Frequency Inverter Sales by Application (2021-2032) & (k units)
- 7.2.2 Global Decentralized Frequency Inverter Sales Market Share by Application (2021-2032)
- 7.3 Global Decentralized Frequency Inverter Price by Application
8 Company Profiles
- 8.1 Toshiba International Corporation
- 8.1.1 Toshiba International Corporation Company Information
- 8.1.2 Toshiba International Corporation Business Overview
- 8.1.3 Toshiba International Corporation Decentralized Frequency Inverter Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.1.4 Toshiba International Corporation Decentralized Frequency Inverter Product Portfolio
- 8.1.5 Toshiba International Corporation Recent Developments
- 8.2 Fuji Electric
- 8.2.1 Fuji Electric Company Information
- 8.2.2 Fuji Electric Business Overview
- 8.2.3 Fuji Electric Decentralized Frequency Inverter Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.2.4 Fuji Electric Decentralized Frequency Inverter Product Portfolio
- 8.2.5 Fuji Electric Recent Developments
- 8.3 Danfoss
- 8.3.1 Danfoss Company Information
- 8.3.2 Danfoss Business Overview
- 8.3.3 Danfoss Decentralized Frequency Inverter Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.3.4 Danfoss Decentralized Frequency Inverter Product Portfolio
- 8.3.5 Danfoss Recent Developments
- 8.4 Siemens AG
- 8.4.1 Siemens AG Company Information
- 8.4.2 Siemens AG Business Overview
- 8.4.3 Siemens AG Decentralized Frequency Inverter Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.4.4 Siemens AG Decentralized Frequency Inverter Product Portfolio
- 8.4.5 Siemens AG Recent Developments
- 8.5 Schneider Electric
- 8.5.1 Schneider Electric Company Information
- 8.5.2 Schneider Electric Business Overview
- 8.5.3 Schneider Electric Decentralized Frequency Inverter Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.5.4 Schneider Electric Decentralized Frequency Inverter Product Portfolio
- 8.5.5 Schneider Electric Recent Developments
- 8.6 Yaskawa Electric
- 8.6.1 Yaskawa Electric Company Information
- 8.6.2 Yaskawa Electric Business Overview
- 8.6.3 Yaskawa Electric Decentralized Frequency Inverter Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.6.4 Yaskawa Electric Decentralized Frequency Inverter Product Portfolio
- 8.6.5 Yaskawa Electric Recent Developments
- 8.7 Emerson Electric
- 8.7.1 Emerson Electric Company Information
- 8.7.2 Emerson Electric Business Overview
- 8.7.3 Emerson Electric Decentralized Frequency Inverter Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.7.4 Emerson Electric Decentralized Frequency Inverter Product Portfolio
- 8.7.5 Emerson Electric Recent Developments
- 8.8 ABB
- 8.8.1 ABB Company Information
- 8.8.2 ABB Business Overview
- 8.8.3 ABB Decentralized Frequency Inverter Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.8.4 ABB Decentralized Frequency Inverter Product Portfolio
- 8.8.5 ABB Recent Developments
- 8.9 Hitachi
- 8.9.1 Hitachi Company Information
- 8.9.2 Hitachi Business Overview
- 8.9.3 Hitachi Decentralized Frequency Inverter Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.9.4 Hitachi Decentralized Frequency Inverter Product Portfolio
- 8.9.5 Hitachi Recent Developments
- 8.10 Mitsubishi Electric Corporation
- 8.10.1 Mitsubishi Electric Corporation Company Information
- 8.10.2 Mitsubishi Electric Corporation Business Overview
- 8.10.3 Mitsubishi Electric Corporation Decentralized Frequency Inverter Sales, Revenue, Price and Gross Margin (2021-2026)
- 8.10.4 Mitsubishi Electric Corporation Decentralized Frequency Inverter Product Portfolio
- 8.10.5 Mitsubishi Electric Corporation Recent Developments
9 North America
- 9.1 North America Decentralized Frequency Inverter Market Size by Type
- 9.1.1 North America Decentralized Frequency Inverter Revenue by Type (2021-2032)
- 9.1.2 North America Decentralized Frequency Inverter Sales by Type (2021-2032)
- 9.1.3 North America Decentralized Frequency Inverter Price by Type (2021-2032)
- 9.2 North America Decentralized Frequency Inverter Market Size by Application
- 9.2.1 North America Decentralized Frequency Inverter Revenue by Application (2021-2032)
- 9.2.2 North America Decentralized Frequency Inverter Sales by Application (2021-2032)
- 9.2.3 North America Decentralized Frequency Inverter Price by Application (2021-2032)
- 9.3 North America Decentralized Frequency Inverter Market Size by Country
- 9.3.1 North America Decentralized Frequency Inverter Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 9.3.2 North America Decentralized Frequency Inverter Sales by Country (2021 VS 2025 VS 2032)
- 9.3.3 North America Decentralized Frequency Inverter Price by Country (2021-2032)
- 9.3.4 United States
- 9.3.5 Canada
- 9.3.6 Mexico
10 Europe
- 10.1 Europe Decentralized Frequency Inverter Market Size by Type
- 10.1.1 Europe Decentralized Frequency Inverter Revenue by Type (2021-2032)
- 10.1.2 Europe Decentralized Frequency Inverter Sales by Type (2021-2032)
- 10.1.3 Europe Decentralized Frequency Inverter Price by Type (2021-2032)
- 10.2 Europe Decentralized Frequency Inverter Market Size by Application
- 10.2.1 Europe Decentralized Frequency Inverter Revenue by Application (2021-2032)
- 10.2.2 Europe Decentralized Frequency Inverter Sales by Application (2021-2032)
- 10.2.3 Europe Decentralized Frequency Inverter Price by Application (2021-2032)
- 10.3 Europe Decentralized Frequency Inverter Market Size by Country
- 10.3.1 Europe Decentralized Frequency Inverter Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 10.3.2 Europe Decentralized Frequency Inverter Sales by Country (2021 VS 2025 VS 2032)
- 10.3.3 Europe Decentralized Frequency Inverter 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 Decentralized Frequency Inverter Market Size by Type
- 11.1.1 China Decentralized Frequency Inverter Revenue by Type (2021-2032)
- 11.1.2 China Decentralized Frequency Inverter Sales by Type (2021-2032)
- 11.1.3 China Decentralized Frequency Inverter Price by Type (2021-2032)
- 11.2 China Decentralized Frequency Inverter Market Size by Application
- 11.2.1 China Decentralized Frequency Inverter Revenue by Application (2021-2032)
- 11.2.2 China Decentralized Frequency Inverter Sales by Application (2021-2032)
- 11.2.3 China Decentralized Frequency Inverter Price by Application (2021-2032)
12 Asia (Excluding China)
- 12.1 Asia Decentralized Frequency Inverter Market Size by Type
- 12.1.1 Asia Decentralized Frequency Inverter Revenue by Type (2021-2032)
- 12.1.2 Asia Decentralized Frequency Inverter Sales by Type (2021-2032)
- 12.1.3 Asia Decentralized Frequency Inverter Price by Type (2021-2032)
- 12.2 Asia Decentralized Frequency Inverter Market Size by Application
- 12.2.1 Asia Decentralized Frequency Inverter Revenue by Application (2021-2032)
- 12.2.2 Asia Decentralized Frequency Inverter Sales by Application (2021-2032)
- 12.2.3 Asia Decentralized Frequency Inverter Price by Application (2021-2032)
- 12.3 Asia Decentralized Frequency Inverter Market Size by Country
- 12.3.1 Asia Decentralized Frequency Inverter Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 12.3.2 Asia Decentralized Frequency Inverter Sales by Country (2021 VS 2025 VS 2032)
- 12.3.3 Asia Decentralized Frequency Inverter 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 Decentralized Frequency Inverter Market Size by Type
- 13.1.1 SAMEA Decentralized Frequency Inverter Revenue by Type (2021-2032)
- 13.1.2 SAMEA Decentralized Frequency Inverter Sales by Type (2021-2032)
- 13.1.3 SAMEA Decentralized Frequency Inverter Price by Type (2021-2032)
- 13.2 SAMEA Decentralized Frequency Inverter Market Size by Application
- 13.2.1 SAMEA Decentralized Frequency Inverter Revenue by Application (2021-2032)
- 13.2.2 SAMEA Decentralized Frequency Inverter Sales by Application (2021-2032)
- 13.2.3 SAMEA Decentralized Frequency Inverter Price by Application (2021-2032)
- 13.3 SAMEA Decentralized Frequency Inverter Market Size by Country
- 13.3.1 SAMEA Decentralized Frequency Inverter Revenue Grow Rate by Country (2021 VS 2025 VS 2032)
- 13.3.2 SAMEA Decentralized Frequency Inverter Sales by Country (2021 VS 2025 VS 2032)
- 13.3.3 SAMEA Decentralized Frequency Inverter 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 Decentralized Frequency Inverter Value Chain Analysis
- 14.1.1 Decentralized Frequency Inverter Key Raw Materials
- 14.1.2 Raw Materials Key Suppliers
- 14.1.3 Manufacturing Cost Structure
- 14.1.4 Decentralized Frequency Inverter Production Mode & Process
- 14.2 Decentralized Frequency Inverter Sales Channels Analysis
- 14.2.1 Direct Comparison with Distribution Share
- 14.2.2 Decentralized Frequency Inverter Distributors
- 14.2.3 Decentralized Frequency Inverter 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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