
Offshore Tugboats Industry Research Report 2025
Description
Summary
According to APO Research, The global Offshore Tugboats market was valued at US$ million in 2024 and is anticipated to reach US$ million by 2031, witnessing a CAGR of xx% during the forecast period 2025-2031.
North American market for Offshore Tugboats is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2026 through 2031.
Asia-Pacific market for Offshore Tugboats is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Europe market for Offshore Tugboats is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
The major global manufacturers of Offshore Tugboats include , etc. In 2024, the world's top three vendors accounted for approximately % of the revenue.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Offshore Tugboats, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Offshore Tugboats.
The report will help the Offshore Tugboats manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
The Offshore Tugboats market size, estimations, and forecasts are provided in terms of sales volume (K Units) and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Offshore Tugboats market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
Key Companies & Market Share Insights
In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2020-2025. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses.
Offshore Tugboats Segment by Company
ABB
Chouest
Eastern Shipbuilding Group
Grandweld
MetalShips & Docks
Robert Allan
Sembcorp Marine
Tidewater
VARD
Wartsila
Damen
Rolls-Royce
Offshore Tugboats Segment by Type
Heavy Tugboat
Light Tugboat
Offshore Tugboats Segment by Application
Offshore Engineering Tugboat
Rescue Tugboat
Others
Offshore Tugboats 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
Colombia
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 Offshore Tugboats 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 Offshore Tugboats 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 Offshore Tugboats.
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 Offshore Tugboats 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 Offshore Tugboats 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 Offshore Tugboats 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.
Please Note: Single-User license will be delivered via PDF from the publisher without the rights to print or to edit.
According to APO Research, The global Offshore Tugboats market was valued at US$ million in 2024 and is anticipated to reach US$ million by 2031, witnessing a CAGR of xx% during the forecast period 2025-2031.
North American market for Offshore Tugboats is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2026 through 2031.
Asia-Pacific market for Offshore Tugboats is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Europe market for Offshore Tugboats is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
The major global manufacturers of Offshore Tugboats include , etc. In 2024, the world's top three vendors accounted for approximately % of the revenue.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Offshore Tugboats, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Offshore Tugboats.
The report will help the Offshore Tugboats manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
The Offshore Tugboats market size, estimations, and forecasts are provided in terms of sales volume (K Units) and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Offshore Tugboats market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
Key Companies & Market Share Insights
In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2020-2025. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses.
Offshore Tugboats Segment by Company
ABB
Chouest
Eastern Shipbuilding Group
Grandweld
MetalShips & Docks
Robert Allan
Sembcorp Marine
Tidewater
VARD
Wartsila
Damen
Rolls-Royce
Offshore Tugboats Segment by Type
Heavy Tugboat
Light Tugboat
Offshore Tugboats Segment by Application
Offshore Engineering Tugboat
Rescue Tugboat
Others
Offshore Tugboats 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
Colombia
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 Offshore Tugboats 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 Offshore Tugboats 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 Offshore Tugboats.
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 Offshore Tugboats 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 Offshore Tugboats 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 Offshore Tugboats 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.
Please Note: Single-User license will be delivered via PDF from the publisher without the rights to print or to edit.
Table of Contents
125 Pages
- 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 Offshore Tugboats by Type
- 2.2.1 Market Value Comparison by Type (2020 VS 2024 VS 2031) & (US$ Million)
- 2.2.2 Heavy Tugboat
- 2.2.3 Light Tugboat
- 2.3 Offshore Tugboats by Application
- 2.3.1 Market Value Comparison by Application (2020 VS 2024 VS 2031) & (US$ Million)
- 2.3.2 Offshore Engineering Tugboat
- 2.3.3 Rescue Tugboat
- 2.3.4 Others
- 2.4 Global Market Growth Prospects
- 2.4.1 Global Offshore Tugboats Production Value Estimates and Forecasts (2020-2031)
- 2.4.2 Global Offshore Tugboats Production Capacity Estimates and Forecasts (2020-2031)
- 2.4.3 Global Offshore Tugboats Production Estimates and Forecasts (2020-2031)
- 2.4.4 Global Offshore Tugboats Market Average Price (2020-2031)
- 3 Market Competitive Landscape by Manufacturers
- 3.1 Global Offshore Tugboats Production by Manufacturers (2020-2025)
- 3.2 Global Offshore Tugboats Production Value by Manufacturers (2020-2025)
- 3.3 Global Offshore Tugboats Average Price by Manufacturers (2020-2025)
- 3.4 Global Offshore Tugboats Industry Manufacturers Ranking, 2023 VS 2024 VS 2025
- 3.5 Global Offshore Tugboats Key Manufacturers, Manufacturing Sites & Headquarters
- 3.6 Global Offshore Tugboats Manufacturers, Product Type & Application
- 3.7 Global Offshore Tugboats Manufacturers Established Date
- 3.8 Global Offshore Tugboats Market CR5 and HHI
- 3.9 Global Manufacturers Mergers & Acquisition
- 4 Manufacturers Profiled
- 4.1 ABB
- 4.1.1 ABB Offshore Tugboats Company Information
- 4.1.2 ABB Offshore Tugboats Business Overview
- 4.1.3 ABB Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.1.4 ABB Product Portfolio
- 4.1.5 ABB Recent Developments
- 4.2 Chouest
- 4.2.1 Chouest Offshore Tugboats Company Information
- 4.2.2 Chouest Offshore Tugboats Business Overview
- 4.2.3 Chouest Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.2.4 Chouest Product Portfolio
- 4.2.5 Chouest Recent Developments
- 4.3 Eastern Shipbuilding Group
- 4.3.1 Eastern Shipbuilding Group Offshore Tugboats Company Information
- 4.3.2 Eastern Shipbuilding Group Offshore Tugboats Business Overview
- 4.3.3 Eastern Shipbuilding Group Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.3.4 Eastern Shipbuilding Group Product Portfolio
- 4.3.5 Eastern Shipbuilding Group Recent Developments
- 4.4 Grandweld
- 4.4.1 Grandweld Offshore Tugboats Company Information
- 4.4.2 Grandweld Offshore Tugboats Business Overview
- 4.4.3 Grandweld Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.4.4 Grandweld Product Portfolio
- 4.4.5 Grandweld Recent Developments
- 4.5 MetalShips & Docks
- 4.5.1 MetalShips & Docks Offshore Tugboats Company Information
- 4.5.2 MetalShips & Docks Offshore Tugboats Business Overview
- 4.5.3 MetalShips & Docks Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.5.4 MetalShips & Docks Product Portfolio
- 4.5.5 MetalShips & Docks Recent Developments
- 4.6 Robert Allan
- 4.6.1 Robert Allan Offshore Tugboats Company Information
- 4.6.2 Robert Allan Offshore Tugboats Business Overview
- 4.6.3 Robert Allan Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.6.4 Robert Allan Product Portfolio
- 4.6.5 Robert Allan Recent Developments
- 4.7 Sembcorp Marine
- 4.7.1 Sembcorp Marine Offshore Tugboats Company Information
- 4.7.2 Sembcorp Marine Offshore Tugboats Business Overview
- 4.7.3 Sembcorp Marine Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.7.4 Sembcorp Marine Product Portfolio
- 4.7.5 Sembcorp Marine Recent Developments
- 4.8 Tidewater
- 4.8.1 Tidewater Offshore Tugboats Company Information
- 4.8.2 Tidewater Offshore Tugboats Business Overview
- 4.8.3 Tidewater Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.8.4 Tidewater Product Portfolio
- 4.8.5 Tidewater Recent Developments
- 4.9 VARD
- 4.9.1 VARD Offshore Tugboats Company Information
- 4.9.2 VARD Offshore Tugboats Business Overview
- 4.9.3 VARD Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.9.4 VARD Product Portfolio
- 4.9.5 VARD Recent Developments
- 4.10 Wartsila
- 4.10.1 Wartsila Offshore Tugboats Company Information
- 4.10.2 Wartsila Offshore Tugboats Business Overview
- 4.10.3 Wartsila Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.10.4 Wartsila Product Portfolio
- 4.10.5 Wartsila Recent Developments
- 4.11 Damen
- 4.11.1 Damen Offshore Tugboats Company Information
- 4.11.2 Damen Offshore Tugboats Business Overview
- 4.11.3 Damen Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.11.4 Damen Product Portfolio
- 4.11.5 Damen Recent Developments
- 4.12 Rolls-Royce
- 4.12.1 Rolls-Royce Offshore Tugboats Company Information
- 4.12.2 Rolls-Royce Offshore Tugboats Business Overview
- 4.12.3 Rolls-Royce Offshore Tugboats Production, Value and Gross Margin (2020-2025)
- 4.12.4 Rolls-Royce Product Portfolio
- 4.12.5 Rolls-Royce Recent Developments
- 5 Global Offshore Tugboats Production by Region
- 5.1 Global Offshore Tugboats Production Estimates and Forecasts by Region: 2020 VS 2024 VS 2031
- 5.2 Global Offshore Tugboats Production by Region: 2020-2031
- 5.2.1 Global Offshore Tugboats Production by Region: 2020-2025
- 5.2.2 Global Offshore Tugboats Production Forecast by Region (2026-2031)
- 5.3 Global Offshore Tugboats Production Value Estimates and Forecasts by Region: 2020 VS 2024 VS 2031
- 5.4 Global Offshore Tugboats Production Value by Region: 2020-2031
- 5.4.1 Global Offshore Tugboats Production Value by Region: 2020-2025
- 5.4.2 Global Offshore Tugboats Production Value Forecast by Region (2026-2031)
- 5.5 Global Offshore Tugboats Market Price Analysis by Region (2020-2025)
- 5.6 Global Offshore Tugboats Production and Value, YOY Growth
- 5.6.1 North America Offshore Tugboats Production Value Estimates and Forecasts (2020-2031)
- 5.6.2 Europe Offshore Tugboats Production Value Estimates and Forecasts (2020-2031)
- 5.6.3 China Offshore Tugboats Production Value Estimates and Forecasts (2020-2031)
- 5.6.4 Japan Offshore Tugboats Production Value Estimates and Forecasts (2020-2031)
- 5.6.5 South Korea Offshore Tugboats Production Value Estimates and Forecasts (2020-2031)
- 5.6.6 India Offshore Tugboats Production Value Estimates and Forecasts (2020-2031)
- 6 Global Offshore Tugboats Consumption by Region
- 6.1 Global Offshore Tugboats Consumption Estimates and Forecasts by Region: 2020 VS 2024 VS 2031
- 6.2 Global Offshore Tugboats Consumption by Region (2020-2031)
- 6.2.1 Global Offshore Tugboats Consumption by Region: 2020-2025
- 6.2.2 Global Offshore Tugboats Forecasted Consumption by Region (2026-2031)
- 6.3 North America
- 6.3.1 North America Offshore Tugboats Consumption Growth Rate by Country: 2020 VS 2024 VS 2031
- 6.3.2 North America Offshore Tugboats Consumption by Country (2020-2031)
- 6.3.3 United States
- 6.3.4 Canada
- 6.3.5 Mexico
- 6.4 Europe
- 6.4.1 Europe Offshore Tugboats Consumption Growth Rate by Country: 2020 VS 2024 VS 2031
- 6.4.2 Europe Offshore Tugboats Consumption by Country (2020-2031)
- 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 Offshore Tugboats Consumption Growth Rate by Country: 2020 VS 2024 VS 2031
- 6.5.2 Asia Pacific Offshore Tugboats Consumption by Country (2020-2031)
- 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 Offshore Tugboats Consumption Growth Rate by Country: 2020 VS 2024 VS 2031
- 6.6.2 South America, Middle East & Africa Offshore Tugboats Consumption by Country (2020-2031)
- 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 Offshore Tugboats Production by Type (2020-2031)
- 7.1.1 Global Offshore Tugboats Production by Type (2020-2031) & (K Units)
- 7.1.2 Global Offshore Tugboats Production Market Share by Type (2020-2031)
- 7.2 Global Offshore Tugboats Production Value by Type (2020-2031)
- 7.2.1 Global Offshore Tugboats Production Value by Type (2020-2031) & (US$ Million)
- 7.2.2 Global Offshore Tugboats Production Value Market Share by Type (2020-2031)
- 7.3 Global Offshore Tugboats Price by Type (2020-2031)
- 8 Segment by Application
- 8.1 Global Offshore Tugboats Production by Application (2020-2031)
- 8.1.1 Global Offshore Tugboats Production by Application (2020-2031) & (K Units)
- 8.1.2 Global Offshore Tugboats Production Market Share by Application (2020-2031)
- 8.2 Global Offshore Tugboats Production Value by Application (2020-2031)
- 8.2.1 Global Offshore Tugboats Production Value by Application (2020-2031) & (US$ Million)
- 8.2.2 Global Offshore Tugboats Production Value Market Share by Application (2020-2031)
- 8.3 Global Offshore Tugboats Price by Application (2020-2031)
- 9 Value Chain and Sales Channels Analysis of the Market
- 9.1 Offshore Tugboats Value Chain Analysis
- 9.1.1 Offshore Tugboats Key Raw Materials
- 9.1.2 Raw Materials Key Suppliers
- 9.1.3 Offshore Tugboats Production Mode & Process
- 9.2 Offshore Tugboats Sales Channels Analysis
- 9.2.1 Direct Comparison with Distribution Share
- 9.2.2 Offshore Tugboats Distributors
- 9.2.3 Offshore Tugboats Customers
- 10 Global Offshore Tugboats Analyzing Market Dynamics
- 10.1 Offshore Tugboats Industry Trends
- 10.2 Offshore Tugboats Industry Drivers
- 10.3 Offshore Tugboats Industry Opportunities and Challenges
- 10.4 Offshore Tugboats Industry Restraints
- 11 Report Conclusion
- 12 Disclaimer
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