Global Passive Windows Industry Market Report-Development Trends, Threats, Opportunities and Competitive Landscape in 2020

  • Passive House is a quickly emerging standard that requires buildings to use an extremely small amount of energy for their heating and cooling needs. These buildings require extremely low amounts of energy for heating and cooling.


    Passive house windows include double glazed windows and three panes of glass, significantly increasing the insulating power.

    The Passive Windows market revenue was xx.xx Million USD in 2019, and will reach xx.xx Million USD in 2025, with a CAGR of x.x% during 2020-2025.


    Under COVID-19 outbreak globally, this report provides 360 degrees of analysis from supply chain, import and export control to regional government policy and future influence on the industry. Detailed analysis about market status (2015-2020), enterprise competition pattern, advantages and disadvantages of enterprise products, industry development trends (2020-2025), regional industrial layout characteristics and macroeconomic policies, industrial policy has also been included. From raw materials to end users of this industry are analyzed scientifically, the trends of product circulation and sales channel will be presented as well. Considering COVID-19, this report provides comprehensive and in-depth analysis on how the epidemic push this industry transformation and reform.


    In COVID-19 outbreak, Chapter 2.2 of this report provides an analysis of the impact of COVID-19 on the global economy and the Passive Windows industry.

    Chapter 3.7 covers the analysis of the impact of COVID-19 from the perspective of the industry chain.

    In addition, chapters 7-11 consider the impact of COVID-19 on the regional economy.


    The Passive Windows market can be split based on product types, major applications, and important countries as follows:


    Key players in the global Passive Windows market covered in Chapter 12:

    Viking Windows

    Stali

    Zola Windows

    M Sora

    Kalesi

    Inoutic


    In Chapter 4 and 14.1, on the basis of types, the Passive Windows market from 2015 to 2025 is primarily split into:

    Inward Opening

    Outward Opening


    In Chapter 5 and 14.2, on the basis of applications, the Passive Windows market from 2015 to 2025 covers:

    Household

    Commercial


    Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2015-2025) of the following regions are covered in Chapter 6, 7, 8, 9, 10, 11, 14:

    North America (Covered in Chapter 7 and 14)

    United States

    Canada

    Mexico

    Europe (Covered in Chapter 8 and 14)

    Germany

    UK

    France

    Italy

    Spain

    Russia

    Others

    Asia-Pacific (Covered in Chapter 9 and 14)

    China

    Japan

    South Korea

    Australia

    India

    Southeast Asia

    Others

    Middle East and Africa (Covered in Chapter 10 and 14)

    Saudi Arabia

    UAE

    Egypt

    Nigeria

    South Africa

    Others

    South America (Covered in Chapter 11 and 14)

    Brazil

    Argentina

    Columbia

    Chile

    Others


    Years considered for this report:

    Historical Years: 2015-2019

    Base Year: 2019

    Estimated Year: 2020

    Forecast Period: 2020-2025

     

  • With tables and figures helping analyze worldwide Global Passive Windows market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

    Table of Content

    1 Passive Windows Introduction and Market Overview

    1.1 Objectives of the Study

    1.2 Overview of Passive Windows

    1.3 Scope of The Study

    1.3.1 Key Market Segments
    1.3.2 Players Covered
    1.3.3 COVID-19's impact on the Passive Windows industry

    1.4 Methodology of The Study

    1.5 Research Data Source


    2 Executive Summary

    2.1 Market Overview

    2.1.1 Global Passive Windows Market Size, 2015 – 2020
    2.1.2 Global Passive Windows Market Size by Type, 2015 – 2020
    2.1.3 Global Passive Windows Market Size by Application, 2015 – 2020
    2.1.4 Global Passive Windows Market Size by Region, 2015 - 2025

    2.2 Business Environment Analysis

    2.2.1 Global COVID-19 Status and Economic Overview
    2.2.2 Influence of COVID-19 Outbreak on Passive Windows Industry Development

    3 Industry Chain Analysis

    3.1 Upstream Raw Material Suppliers of Passive Windows Analysis

    3.2 Major Players of Passive Windows

    3.3 Passive Windows Manufacturing Cost Structure Analysis

    3.3.1 Production Process Analysis
    3.3.2 Manufacturing Cost Structure of Passive Windows
    3.3.3 Labor Cost of Passive Windows

    3.4 Market Distributors of Passive Windows

    3.5 Major Downstream Buyers of Passive Windows Analysis

    3.6 The Impact of Covid-19 From the Perspective of Industry Chain

    3.7 Regional Import and Export Controls Will Exist for a Long Time
    3.8 Continued downward PMI Spreads Globally

    4 Global Passive Windows Market, by Type

    4.1 Global Passive Windows Value and Market Share by Type (2015-2020)

    4.2 Global Passive Windows Production and Market Share by Type (2015-2020)

    4.3 Global Passive Windows Value and Growth Rate by Type (2015-2020)

    4.3.1 Global Passive Windows Value and Growth Rate of Inward Opening
    4.3.2 Global Passive Windows Value and Growth Rate of Outward Opening

    4.4 Global Passive Windows Price Analysis by Type (2015-2020)


    5 Passive Windows Market, by Application

    5.1 Downstream Market Overview

    5.2 Global Passive Windows Consumption and Market Share by Application (2015-2020)

    5.3 Global Passive Windows Consumption and Growth Rate by Application (2015-2020)

    5.3.1 Global Passive Windows Consumption and Growth Rate of Household (2015-2020)
    5.3.2 Global Passive Windows Consumption and Growth Rate of Commercial (2015-2020)

    6 Global Passive Windows Market Analysis by Regions

    6.1 Global Passive Windows Sales, Revenue and Market Share by Regions

    6.1.1 Global Passive Windows Sales by Regions (2015-2020)
    6.1.2 Global Passive Windows Revenue by Regions (2015-2020)

    6.2 North America Passive Windows Sales and Growth Rate (2015-2020)

    6.3 Europe Passive Windows Sales and Growth Rate (2015-2020)

    6.4 Asia-Pacific Passive Windows Sales and Growth Rate (2015-2020)

    6.5 Middle East and Africa Passive Windows Sales and Growth Rate (2015-2020)

    6.6 South America Passive Windows Sales and Growth Rate (2015-2020)


    7 North America Passive Windows Market Analysis by Countries

    7.1 The Influence of COVID-19 on North America Market

    7.2 North America Passive Windows Sales, Revenue and Market Share by Countries

    7.2.1 North America Passive Windows Sales by Countries (2015-2020)
    7.2.2 North America Passive Windows Revenue by Countries (2015-2020)

    7.3 United States Passive Windows Sales and Growth Rate (2015-2020)

    7.4 Canada Passive Windows Sales and Growth Rate (2015-2020)

    7.5 Mexico Passive Windows Sales and Growth Rate (2015-2020)


    8 Europe Passive Windows Market Analysis by Countries

    8.1 The Influence of COVID-19 on Europe Market

    8.2 Europe Passive Windows Sales, Revenue and Market Share by Countries

    8.2.1 Europe Passive Windows Sales by Countries (2015-2020)
    8.2.2 Europe Passive Windows Revenue by Countries (2015-2020)

    8.3 Germany Passive Windows Sales and Growth Rate (2015-2020)

    8.4 UK Passive Windows Sales and Growth Rate (2015-2020)

    8.5 France Passive Windows Sales and Growth Rate (2015-2020)

    8.6 Italy Passive Windows Sales and Growth Rate (2015-2020)

    8.7 Spain Passive Windows Sales and Growth Rate (2015-2020)
    8.8 Russia Passive Windows Sales and Growth Rate (2015-2020)

    9 Asia Pacific Passive Windows Market Analysis by Countries

    9.1 The Influence of COVID-19 on Asia Pacific Market

    9.2 Asia Pacific Passive Windows Sales, Revenue and Market Share by Countries

    9.2.1 Asia Pacific Passive Windows Sales by Countries (2015-2020)
    9.2.2 Asia Pacific Passive Windows Revenue by Countries (2015-2020)

    9.3 China Passive Windows Sales and Growth Rate (2015-2020)

    9.4 Japan Passive Windows Sales and Growth Rate (2015-2020)

    9.5 South Korea Passive Windows Sales and Growth Rate (2015-2020)

    9.6 India Passive Windows Sales and Growth Rate (2015-2020)

    9.7 Southeast Asia Passive Windows Sales and Growth Rate (2015-2020)
    9.8 Australia Passive Windows Sales and Growth Rate (2015-2020)

    10 Middle East and Africa Passive Windows Market Analysis by Countries

    10.1 The Influence of COVID-19 on Middle East and Africa Market

    10.2 Middle East and Africa Passive Windows Sales, Revenue and Market Share by Countries

    10.2.1 Middle East and Africa Passive Windows Sales by Countries (2015-2020)
    10.2.2 Middle East and Africa Passive Windows Revenue by Countries (2015-2020)

    10.3 Saudi Arabia Passive Windows Sales and Growth Rate (2015-2020)

    10.4 UAE Passive Windows Sales and Growth Rate (2015-2020)

    10.5 Egypt Passive Windows Sales and Growth Rate (2015-2020)

    10.6 Nigeria Passive Windows Sales and Growth Rate (2015-2020)

    10.7 South Africa Passive Windows Sales and Growth Rate (2015-2020)

    11 South America Passive Windows Market Analysis by Countries

    11.1 The Influence of COVID-19 on Middle East and Africa Market

    11.2 South America Passive Windows Sales, Revenue and Market Share by Countries

    11.2.1 South America Passive Windows Sales by Countries (2015-2020)
    11.2.2 South America Passive Windows Revenue by Countries (2015-2020)

    11.3 Brazil Passive Windows Sales and Growth Rate (2015-2020)

    11.4 Argentina Passive Windows Sales and Growth Rate (2015-2020)

    11.5 Columbia Passive Windows Sales and Growth Rate (2015-2020)

    11.6 Chile Passive Windows Sales and Growth Rate (2015-2020)


    12 Competitive Landscape

    12.1 Viking Windows

    12.1.1 Viking Windows Basic Information
    12.1.2 Passive Windows Product Introduction
    12.1.3 Viking Windows Production, Value, Price, Gross Margin 2015-2020

    12.2 Stali

    12.2.1 Stali Basic Information
    12.2.2 Passive Windows Product Introduction
    12.2.3 Stali Production, Value, Price, Gross Margin 2015-2020

    12.3 Zola Windows

    12.3.1 Zola Windows Basic Information
    12.3.2 Passive Windows Product Introduction
    12.3.3 Zola Windows Production, Value, Price, Gross Margin 2015-2020

    12.4 M Sora

    12.4.1 M Sora Basic Information
    12.4.2 Passive Windows Product Introduction
    12.4.3 M Sora Production, Value, Price, Gross Margin 2015-2020

    12.5 Kalesi

    12.5.1 Kalesi Basic Information
    12.5.2 Passive Windows Product Introduction
    12.5.3 Kalesi Production, Value, Price, Gross Margin 2015-2020

    12.6 Inoutic

    12.6.1 Inoutic Basic Information
    12.6.2 Passive Windows Product Introduction
    12.6.3 Inoutic Production, Value, Price, Gross Margin 2015-2020

    13 Industry Outlook

    13.1 Market Driver Analysis

    13.1.2 Market Restraints Analysis
    13.1.3 Market Trends Analysis

    13.2 Merger, Acquisition and New Investment

    13.3 News of Product Release


    14 Global Passive Windows Market Forecast

    14.1 Global Passive Windows Market Value & Volume Forecast, by Type (2020-2025)

    14.1.1 Inward Opening Market Value and Volume Forecast (2020-2025)
    14.1.2 Outward Opening Market Value and Volume Forecast (2020-2025)

    14.2 Global Passive Windows Market Value & Volume Forecast, by Application (2020-2025)

    14.2.1 Household Market Value and Volume Forecast (2020-2025)
    14.2.2 Commercial Market Value and Volume Forecast (2020-2025)

    14.3 Passive Windows Market Analysis and Forecast by Region

    14.3.1 North America Market Value and Consumption Forecast (2020-2025)
    14.3.2 Europe Market Value and Consumption Forecast (2020-2025)
    14.3.3 Asia Pacific Market Value and Consumption Forecast (2020-2025)
    14.3.4 Middle East and Africa Market Value and Consumption Forecast (2020-2025)
    14.3.5 South America Market Value and Consumption Forecast (2020-2025)

    15 New Project Feasibility Analysis

    15.1 Industry Barriers and New Entrants SWOT Analysis

    15.1.1 Porter’s Five Forces Analysis
    15.1.2 New Entrants SWOT Analysis

    15.2 Analysis and Suggestions on New Project Investment



    List of Tables and Figures
    Figure Product Picture of Passive Windows
    Table Product Specification of Passive Windows
    Table Passive Windows Key Market Segments
    Table Key Players Passive Windows Covered
    Figure Global Passive Windows Market Size, 2015 – 2025
    Table Different Types of Passive Windows
    Figure Global Passive Windows Value ($) Segment by Type from 2015-2020
    Figure Global Passive Windows Market Share by Types in 2019
    Table Different Applications of Passive Windows
    Figure Global Passive Windows Value ($) Segment by Applications from 2015-2020
    Figure Global Passive Windows Market Share by Applications in 2019
    Figure Global Passive Windows Market Share by Regions in 2019
    Figure North America Passive Windows Production Value ($) and Growth Rate (2015-2020)
    Figure Europe Passive Windows Production Value ($) and Growth Rate (2015-2020)
    Figure Asia Pacific Passive Windows Production Value ($) and Growth Rate (2015-2020)
    Figure Middle East and Africa Passive Windows Production Value ($) and Growth Rate (2015-2020)
    Figure South America Passive Windows Production Value ($) and Growth Rate (2015-2020)
    Table Global COVID-19 Status and Economic Overview
    Figure Global COVID-19 Status
    Figure COVID-19 Comparison of Major Countries
    Figure Industry Chain Analysis of Passive Windows
    Table Upstream Raw Material Suppliers of Passive Windows with Contact Information
    Table Major Players Headquarters, and Service Area of Passive Windows
    Figure Major Players Production Value Market Share of Passive Windows in 2019
    Table Major Players Passive Windows Product Types in 2019
    Figure Production Process of Passive Windows
    Figure Manufacturing Cost Structure of Passive Windows
    Figure Channel Status of Passive Windows
    Table Major Distributors of Passive Windows with Contact Information
    Table Major Downstream Buyers of Passive Windows with Contact Information
    Table Global Passive Windows Value ($) by Type (2015-2020)
    Table Global Passive Windows Value Share by Type (2015-2020)
    Figure Global Passive Windows Value Share by Type (2015-2020)
    Table Global Passive Windows Production by Type (2015-2020)
    Table Global Passive Windows Production Share by Type (2015-2020)
    Figure Global Passive Windows Production Share by Type (2015-2020)
    Figure Global Passive Windows Value ($) and Growth Rate of Inward Opening (2015-2020)
    Figure Global Passive Windows Value ($) and Growth Rate of Outward Opening (2015-2020)
    Figure Global Passive Windows Price by Type (2015-2020)
    Figure Downstream Market Overview
    Table Global Passive Windows Consumption by Application (2015-2020)
    Table Global Passive Windows Consumption Market Share by Application (2015-2020)
    Figure Global Passive Windows Consumption Market Share by Application (2015-2020)
    Figure Global Passive Windows Consumption and Growth Rate of Household (2015-2020)
    Figure Global Passive Windows Consumption and Growth Rate of Commercial (2015-2020)
    Figure Global Passive Windows Sales and Growth Rate (2015-2020)
    Figure Global Passive Windows Revenue (M USD) and Growth (2015-2020)
    Table Global Passive Windows Sales by Regions (2015-2020)
    Table Global Passive Windows Sales Market Share by Regions (2015-2020)
    Table Global Passive Windows Revenue (M USD) by Regions (2015-2020)
    Table Global Passive Windows Revenue Market Share by Regions (2015-2020)
    Table Global Passive Windows Revenue Market Share by Regions in 2015
    Table Global Passive Windows Revenue Market Share by Regions in 2019
    Figure North America Passive Windows Sales and Growth Rate (2015-2020)
    Figure Europe Passive Windows Sales and Growth Rate (2015-2020)
    Figure Asia-Pacific Passive Windows Sales and Growth Rate (2015-2020)
    Figure Middle East and Africa Passive Windows Sales and Growth Rate (2015-2020)
    Figure South America Passive Windows Sales and Growth Rate (2015-2020)
    Figure North America COVID-19 Status
    Figure North America COVID-19 Confirmed Cases Major Distribution
    Figure North America Passive Windows Revenue (M USD) and Growth (2015-2020)
    Table North America Passive Windows Sales by Countries (2015-2020)
    Table North America Passive Windows Sales Market Share by Countries (2015-2020)
    Table North America Passive Windows Revenue (M USD) by Countries (2015-2020)
    Table North America Passive Windows Revenue Market Share by Countries (2015-2020)
    Figure United States Passive Windows Sales and Growth Rate (2015-2020)
    Figure Canada Passive Windows Sales and Growth Rate (2015-2020)
    Figure Mexico Passive Windows Sales and Growth (2015-2020)
    Figure Europe COVID-19 Status
    Figure Europe COVID-19 Confirmed Cases Major Distribution
    Figure Europe Passive Windows Revenue (M USD) and Growth (2015-2020)
    Table Europe Passive Windows Sales by Countries (2015-2020)
    Table Europe Passive Windows Sales Market Share by Countries (2015-2020)
    Table Europe Passive Windows Revenue (M USD) by Countries (2015-2020)
    Table Europe Passive Windows Revenue Market Share by Countries (2015-2020)
    Figure Germany Passive Windows Sales and Growth Rate (2015-2020)
    Figure UK Passive Windows Sales and Growth Rate (2015-2020)
    Figure France Passive Windows Sales and Growth (2015-2020)
    Figure Italy Passive Windows Sales and Growth (2015-2020)
    Figure Spain Passive Windows Sales and Growth (2015-2020)
    Figure Russia Passive Windows Sales and Growth (2015-2020)
    Figure Asia Pacific COVID-19 Status
    Figure Asia Pacific Passive Windows Revenue (M USD) and Growth (2015-2020)
    Table Asia Pacific Passive Windows Sales by Countries (2015-2020)
    Table Asia Pacific Passive Windows Sales Market Share by Countries (2015-2020)
    Table Asia Pacific Passive Windows Revenue (M USD) by Countries (2015-2020)
    Table Asia Pacific Passive Windows Revenue Market Share by Countries (2015-2020)
    Figure China Passive Windows Sales and Growth Rate (2015-2020)
    Figure Japan Passive Windows Sales and Growth Rate (2015-2020)
    Figure South Korea Passive Windows Sales and Growth (2015-2020)
    Figure India Passive Windows Sales and Growth (2015-2020)
    Figure Southeast Asia Passive Windows Sales and Growth (2015-2020)
    Figure Australia Passive Windows Sales and Growth (2015-2020)
    Figure Middle East Passive Windows Revenue (M USD) and Growth (2015-2020)
    Table Middle East Passive Windows Sales by Countries (2015-2020)
    Table Middle East and Africa Passive Windows Sales Market Share by Countries (2015-2020)
    Table Middle East and Africa Passive Windows Revenue (M USD) by Countries (2015-2020)
    Table Middle East and Africa Passive Windows Revenue Market Share by Countries (2015-2020)
    Figure Saudi Arabia Passive Windows Sales and Growth Rate (2015-2020)
    Figure UAE Passive Windows Sales and Growth Rate (2015-2020)
    Figure Egypt Passive Windows Sales and Growth (2015-2020)
    Figure Nigeria Passive Windows Sales and Growth (2015-2020)
    Figure South Africa Passive Windows Sales and Growth (2015-2020)
    Figure South America Passive Windows Revenue (M USD) and Growth (2015-2020)
    Table South America Passive Windows Sales by Countries (2015-2020)
    Table South America Passive Windows Sales Market Share by Countries (2015-2020)
    Table South America Passive Windows Revenue (M USD) by Countries (2015-2020)
    Table South America Passive Windows Revenue Market Share by Countries (2015-2020)
    Figure Brazil Passive Windows Sales and Growth Rate (2015-2020)
    Figure Argentina Passive Windows Sales and Growth Rate (2015-2020)
    Figure Columbia Passive Windows Sales and Growth (2015-2020)
    Figure Chile Passive Windows Sales and Growth (2015-2020)
    Figure Top 3 Market Share of Passive Windows Companies in 2019
    Figure Top 6 Market Share of Passive Windows Companies in 2019
    Table Major Players Production Value ($) Share (2015-2020)
    Table Viking Windows Profile
    Table Viking Windows Product Introduction
    Figure Viking Windows Production and Growth Rate
    Figure Viking Windows Value ($) Market Share 2015-2020
    Table Stali Profile
    Table Stali Product Introduction
    Figure Stali Production and Growth Rate
    Figure Stali Value ($) Market Share 2015-2020
    Table Zola Windows Profile
    Table Zola Windows Product Introduction
    Figure Zola Windows Production and Growth Rate
    Figure Zola Windows Value ($) Market Share 2015-2020
    Table M Sora Profile
    Table M Sora Product Introduction
    Figure M Sora Production and Growth Rate
    Figure M Sora Value ($) Market Share 2015-2020
    Table Kalesi Profile
    Table Kalesi Product Introduction
    Figure Kalesi Production and Growth Rate
    Figure Kalesi Value ($) Market Share 2015-2020
    Table Inoutic Profile
    Table Inoutic Product Introduction
    Figure Inoutic Production and Growth Rate
    Figure Inoutic Value ($) Market Share 2015-2020
    Table Market Driving Factors of Passive Windows
    Table Merger, Acquisition and New Investment
    Table Global Passive Windows Market Value ($) Forecast, by Type
    Table Global Passive Windows Market Volume Forecast, by Type
    Figure Global Passive Windows Market Value ($) and Growth Rate Forecast of Inward Opening (2020-2025)
    Figure Global Passive Windows Market Volume ($) and Growth Rate Forecast of Inward Opening (2020-2025)
    Figure Global Passive Windows Market Value ($) and Growth Rate Forecast of Outward Opening (2020-2025)
    Figure Global Passive Windows Market Volume ($) and Growth Rate Forecast of Outward Opening (2020-2025)
    Table Global Market Value ($) Forecast by Application (2020-2025)
    Table Global Market Volume Forecast by Application (2020-2025)
    Figure Market Value ($) and Growth Rate Forecast of Household (2020-2025)
    Figure Market Volume and Growth Rate Forecast of Household (2020-2025)
    Figure Market Value ($) and Growth Rate Forecast of Commercial (2020-2025)
    Figure Market Volume and Growth Rate Forecast of Commercial (2020-2025)
    Figure North America Market Value ($) and Growth Rate Forecast (2020-2025)
    Figure North America Consumption and Growth Rate Forecast (2020-2025)
    Figure Europe Market Value ($) and Growth Rate Forecast (2020-2025)
    Figure Europe Consumption and Growth Rate Forecast (2020-2025)
    Figure Asia Pacific Market Value ($) and Growth Rate Forecast (2020-2025)
    Figure Asia Pacific Consumption and Growth Rate Forecast (2020-2025)
    Figure Middle East and Africa Market Value ($) and Growth Rate Forecast (2020-2025)
    Figure Middle East and Africa Consumption and Growth Rate Forecast (2020-2025)
    Figure South America Market Value ($) and Growth Rate Forecast (2020-2025)
    Figure South America Consumption and Growth Rate Forecast (2020-2025)
    Figure Porter’s Five Forces Analysis
    Table New Entrants SWOT Analysis
    Table New Project Analysis of Investment Recovery

     

  • The Global Passive Windows Market has been segregated into various crucial divisions including applications, types, and regions. Each market segment is intensively studied in the report contemplating its market acceptance, worthiness, demand, and growth prospects. The segmentation analysis will help the client to customize their marketing approach to have a better command of each segment and to identify the most prospective customer base.

    Report Objectives / Segmentation Covered :
    By Companies / players:
      By Regions:
        By Type:
          By Application:
          Frequently asked questions(FAQ's):
          What is the Global Passive Windows Market really preparing for?

          Companies in the Global Passive Windows Industry will need to adapt swiftly to the behavioral changes that are reshaping consumer decision journeys.

          What is the current state of the Global Passive Windows Industry, and what is the projected growth trajectory through 2030?

          In 2024, the Global Passive Windows Market share surpassed USD xx million, and between 2025 and 2030, it will grow at a CAGR of yy%.

          What trends may have an impact on the Global Passive Windows Market's growth?

          A handful of disruptive trends, nevertheless, will have a contradictory and significant impact on the development of the Global Passive Windows Market as well as its distribution among its players

          What is the estimated global market value of the Global Passive Windows Market?

          The Global Passive Windows Market is expected to reach a considerable market valuation.

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