Product Code: ARZ240703
The global safety cabinet market is expected to grow at a CAGR of 6.40% from 2023 to 2029.
MARKET TRENDS & OPPORTUNITIES
Increases Demand for Double-Walled Safety Cabinets
Double-walled safety cabinets provide essential features to ensure laboratory safety. Their secure locking mechanisms restrict unauthorized access, reducing the risk of accidents and misuse of hazardous materials. Integrated spill containment and drainage systems manage spills effectively, containing substances within the cabinet and facilitating safe cleanup. Moreover, ventilation systems and air filtration capabilities remove harmful fumes and vapors, maintaining air quality for a safe working environment and protecting personnel from respiratory hazards. Furthermore, double-walled safety cabinets optimize interior space with customizable configurations like adjustable shelves and compartments. This enhances storage capacity and organization, allowing for efficient segregation and easy access to stored items.
Rapid Technological Advancement
Biosafety cabinets (BSCs) have undergone significant technological advancements in the safety cabinet market, driven by the need to enhance safety, efficiency, and functionality in various laboratory settings. These advancements have transformed BSCs into sophisticated instruments that protect laboratory personnel, samples, and the environment from exposure to hazardous biological agents. From improvements in airflow control to the integration of smart features, modern BSCs represent the pinnacle of biosafety engineering. For instance, in 2023, Labconco launched the ReVo Microbiological Safety Cabinet, with key features such as advanced blower technology with CAP Constant Monitoring, clear visual and audible signals to notify users of unsafe conditions, enhancing safety and usability, TUV Nord's EN 12469 standard for cabinet construction, glare-free 270-degree panoramic view of the workspace, and others.
INDUSTRY RESTRAINTS
High Cost of the Product
The high cost associated with the safety cabinet industry can often be a significant restraint for businesses and organizations, especially those operating on tight budgets or industries with narrow profit margins. Safety cabinets are vital components of various sectors, such as laboratories, pharmaceuticals, manufacturing, and healthcare, where the storage and handling of hazardous materials are commonplace. These cabinets provide a secure and controlled environment for storing flammable liquids, corrosive chemicals, and other dangerous substances, mitigating the risk of accidents, spills, and potential harm to personnel and the environment. The customization options available for safety cabinets can also impact their cost. Businesses often require cabinets tailored to their specific needs, such as size requirements, storage capacity, and compatibility with existing infrastructure. Customization entails additional design work, engineering, and production processes, all adding to the overall expense.
SEGMENTATION INSIGHTS
INSIGHTS BY TYPE
The global safety cabinet market by type is segmented into safety storage cabinets and biosafety cabinets. In 2023, the safety storage cabinet accounted for the highest revenue share in the product segment due to regulatory compliance, safety concerns, industry standards, etc. Various industries, such as laboratories, manufacturing, healthcare, and research facilities, have established standards for safely handling and storing hazardous materials. Furthermore, the biosafety cabinets segment exhibits the highest CAGR due to infectious diseases, R&D, concerns about biosecurity, and others. Advancements in biotechnology, pharmaceuticals, and life sciences continually drive the need for biosafety cabinets. Research institutions, pharmaceutical companies, and biotech firms require these cabinets to ensure the safety of their researchers and the integrity of their work.
Segmentation by Type
- Safety Storage Cabinet
- Biosafety Cabinet
INSIGHTS BY END-USER
The global safety cabinet market by end-user is segmented into factory laboratories, research & diagnostic labs, academic research institutes, and others. The factory laboratories segment holds the most prominent segmental market share. The factory laboratory demand driving factors are an investment in biotechnology, pharmaceutical, petrochemical, construction, etc. These sectors have contributed to the expansion and innovation within the factory laboratory domain, propelling its growth trajectory forward. Also, these cabinets are essential in maintaining sterile environments and preventing contamination, thus contributing to the sector's exponential growth. Furthermore, research and diagnostic laboratories witnessed a significant evolution, with safety cabinets emerging as indispensable components ensuring the safe handling of hazardous materials. These cabinets are essential in maintaining sterile environments and preventing contamination, thus contributing to the sector's exponential growth. The surge in demand for safety cabinets can be attributed to the proliferation of hospitals, pharmaceutical laboratories, and research facilities, where stringent safety protocols are imperative to protect personnel and samples.
Segmentation by End-User
- Factory Laboratories
- Research & Diagnostic Labs
- Academic Research Institutes
- Others
INSIGHTS BY DISTRIBUTION CHANNEL
The offline distribution channel segment held the largest global safety cabinet market share in 2023. Offline distribution channels provide tangible showcases for products or services, garnering attention and interest from potential customers. Moreover, offline distribution channels foster trust and loyalty through personal interactions, offering after-sales support, and providing human touchpoints, enhancing the customer experience. Furthermore, offline distribution channels facilitate leveraging retail partnerships, tapping into established retailers' customer bases, distribution networks, and marketing channels for expanded reach and visibility. However, online distribution is the fastest-growing segment in the global safety cabinet market due to accessibility, comparison shopping, global reach, and more. Additionally, online channels often offer competitive pricing, promotional discounts, and convenient shipping options, making them attractive for safety cabinet users.
Segmentation by Distribution Channel
GEOGRAPHICAL ANALYSIS
North America holds the most significant share of the global safety cabinet market, accounting for a share of over 31% in 2023. The region leads in revenue share, propelled by technological advancements and the emergence of new startups. The demand for safety cabinets in North America has witnessed a substantial surge, driven by a confluence of factors ranging from the persistent threat of infectious diseases to heightened investment in pharmaceutical R&D, the expansion of chemical manufacturing, and the imperative for safety in educational institutions. This surge reflects a paradigm shift in priorities, with stakeholders across various sectors prioritizing measures to ensure workplace safety, regulatory compliance, and the containment of potentially hazardous materials. Also, in the U.S. and Canada, demand was spurred by stringent government regulations and increased chemical production.
Segmentation by Geography
- North America
- Europe
- Germany
- Switzerland
- The U.K.
- France
- Italy
- Spain
- Russia
- APAC
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Middle East & Africa
- Turkey
- Saudi Arabia
- South Africa
- UAE
COMPETITIVE LANDSCAPE
The global safety cabinet market is fragmented and characterized by numerous global and regional players. The other key competitive factors include advancements in technology, stringent regulatory standards, and a growing emphasis on laboratory safety. Major companies like Thermo Fisher Scientific, Esco Lifesciences, KEWAUNEE INTERNATIONAL GROUP, and Justrite Safety Group dominate the global safety cabinet market, leveraging their extensive product portfolios, strong brand recognition, and global distribution networks. These market leaders invest heavily in research and development to introduce innovative products that comply with international safety standards, such as NSF/ANSI 49 and EN 12469, ensuring high levels of containment and protection.
Vendor Activities in the Global Safety Cabinet Market
- Thermo Fisher Scientific emphasizes user-centric design and prioritizes comfort and efficiency in biological safety cabinet products such as ergonomic armrests, eye-level control panels, height adjustments, and counterbalanced or motorized sash operations. By integrating ergonomic features and intuitive controls, the industry standard for optimal workspace functionality. The organization's commitment to user satisfaction ensures cabinets remain the top choice among lab professionals globally.
- Labconco has significantly advanced its 3D printing capabilities, enhancing sustainability and agility in manufacturing. They minimize waste, speed up production, and create durable, bio-sourced parts by using additive manufacturing. This technology also allows them to overcome supply chain issues and achieve cost savings, demonstrating a high return on investment.
Key Company Profiles
- Thermo Fisher Scientific
- KEWAUNEE INTERNATIONAL GROUP
- Esco Lifesciences
- Justrite Safety Group
Other Prominent Vendors
- Biobase Biodusty
- Biolab Scientific
- FASTER S.r.l.
- LAMSYSTEMS CC
- Yamato Scientific Co., Ltd.
- H2I Group
- AirClean Systems, Inc.
- Scala Scientific
- Caron Products
- Terra Universal. Inc.
- ACMAS Technologies Pvt. Ltd.
- Heal Force
- Berner International GmbH
- Contained Air Solutions
- Infitek
- Photon Cleantech Inc
- Air Science USA LLC
- Haier Biomedical
- Suzhou Antai Airtech
- CRUMA
- Azbil Telstar, SLU
- NuAire
- Labconcox
- Germfree
- Secura Sweden AB
- Kottermann GmbH
- Durham Manufacturing
- asecos GmbH
- Storemasta
- SciMatCo
- Jointlab S.r.l.
KEY QUESTIONS ANSWERED:
1. Who are the key players in the global safety cabinet market?
2. Which region dominates the global safety cabinet market share?
3. How big is the global safety cabinet market?
4. What are the significant trends in the safety cabinet industry?
5. What is the growth rate of the global safety cabinet market?
TABLE OF CONTENTS
1. SCOPE & COVERAGE
- 1.1. MARKET DEFINITION
- 1.1.1. INCLUSIONS
- 1.1.2. EXCLUSIONS
- 1.1.3. MARKET ESTIMATION CAVEATS
- 1.2. SEGMENTS COVERED & DEFINITION
- 1.2.1. MARKET SEGMENTATION BY PRODUCT
- 1.2.2. MARKET SEGMENTATION BY END-USER
- 1.2.3. MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- 1.2.4. REGIONS & COUNTRIES COVERED
- 1.3. MARKET DERIVATION
- 1.3.1. HISTORIC, BASE, & FORECAST YEARS
2. PREMIUM INSIGHTS
- 2.1. OPPORTUNITY POCKETS
- 2.1.1. MARKET MATURITY INDICATOR
- 2.1.2. REGIONAL INSIGHTS
- 2.2. MARKET DEFINITIONS
- 2.3. REPORT OVERVIEW
- 2.4. OPPORTUNITIES & CHALLENGES ANALYSIS
- 2.5. SEGMENT ANALYSIS
- 2.6. REGIONAL ANALYSIS
- 2.7. COMPETITIVE LANDSCAPE
3. MARKET AT A GLANCE
4. INTRODUCTION
- 4.1. OVERVIEW
- 4.1.1. RAW MATERIAL PRICE FLUCTUATIONS
- 4.1.2. INVESTMENT IN THE PHARMACEUTICAL SECTOR
- 4.2. COMPANIES COMPLIANCE WITH SAFETY REGULATIONS
5. MARKET OPPORTUNITIES & TRENDS
- 5.1. INCREASING DEMAND FOR HEPA AND ULPA FILTERS IN BIOSAFETY CABINETS
- 5.2. SURGING DEMAND FOR COMPACT-SIZE BIOSAFETY CABINETS
- 5.3. RISING DEMAND FOR ELECTRONICALLY COMMUTATED MOTORS IN BIOSAFETY CABINETS
- 5.4. GROWING DEMAND FOR DOUBLE-WALLED SAFETY CABINETS
6. MARKET GROWTH ENABLERS
- 6.1. RAPID TECHNOLOGICAL ADVANCEMENTS
- 6.2. INCREASING DEMAND FOR CUSTOMIZED SAFETY CABINETS
- 6.3. EMERGENCE OF INFECTIOUS DISEASES
- 6.4. GROWING INVESTMENTS IN R&D AND LABORATORIES
7. MARKET RESTRAINTS
- 7.1. STRINGENT REGULATORY STANDARDS
- 7.2. HIGH PRODUCT COSTS
- 7.3. LIMITED DEMAND IN EMERGING MARKETS
8. MARKET LANDSCAPE
- 8.1. MARKET OVERVIEW
- 8.2. DEMAND INSIGHTS
- 8.3. VENDOR ANALYSIS
- 8.4. MARKET SIZE & FORECAST
- 8.5. FIVE FORCES ANALYSIS
- 8.5.1. THREAT OF NEW ENTRANTS
- 8.5.2. BARGAINING POWER OF SUPPLIERS
- 8.5.3. BARGAINING POWER OF BUYERS
- 8.5.4. THREAT OF SUBSTITUTES
- 8.5.5. COMPETITIVE RIVALRY
9. SAFETY CABINETS TYPE
- 9.1. MARKET SNAPSHOT & GROWTH ENGINE
- 9.2. MARKET OVERVIEW
- 9.3. SAFETY STORAGE CABINETS
- 9.3.1. MARKET OVERVIEW
- 9.3.2. MARKET SIZE & FORECAST
- 9.3.3. MARKET BY GEOGRAPHY
- 9.4. BIOLOGICAL SAFETY CABINETS
- 9.4.1. MARKET OVERVIEW
- 9.4.2. MARKET SIZE & FORECAST
- 9.4.3. MARKET BY GEOGRAPHY
10. END-USER
- 10.1. MARKET SNAPSHOT & GROWTH ENGINE
- 10.2. MARKET OVERVIEW
- 10.3. FACTORY LABORATORIES
- 10.3.1. MARKET OVERVIEW
- 10.3.2. MARKET SIZE & FORECAST
- 10.3.3. MARKET BY GEOGRAPHY
- 10.4. RESEARCH AND DIAGNOSTIC LABS
- 10.4.1. MARKET OVERVIEW
- 10.4.2. MARKET SIZE & FORECAST
- 10.4.3. MARKET BY GEOGRAPHY
- 10.5. ACADEMIC RESEARCH INSTITUTES
- 10.5.1. MARKET OVERVIEW
- 10.5.2. MARKET SIZE & FORECAST
- 10.5.3. MARKET BY GEOGRAPHY
- 10.6. OTHERS
- 10.6.1. MARKET OVERVIEW
- 10.6.2. MARKET SIZE & FORECAST
- 10.6.3. MARKET BY GEOGRAPHY
11. DISTRIBUTION CHANNEL
- 11.1. MARKET SNAPSHOT & GROWTH ENGINE
- 11.2. MARKET OVERVIEW
- 11.3. OFFLINE
- 11.3.1. MARKET OVERVIEW
- 11.3.2. MARKET SIZE & FORECAST
- 11.3.3. MARKET BY GEOGRAPHY
- 11.4. ONLINE
- 11.4.1. MARKET OVERVIEW
- 11.4.2. MARKET SIZE & FORECAST
- 11.4.3. MARKET BY GEOGRAPHY
12. GEOGRAPHY
- 12.1. MARKET SNAPSHOT & GROWTH ENGINE
- 12.2. GEOGRAPHIC OVERVIEW
13. NORTH AMERICA
- 13.1. MARKET OVERVIEW
- 13.2. MARKET SIZE & FORECAST
- 13.3. PRODUCT
- 13.3.1. MARKET SIZE & FORECAST
- 13.4. END-USER
- 13.4.1. MARKET SIZE & FORECAST
- 13.5. DISTRIBUTION CHANNEL
- 13.5.1. MARKET SIZE & FORECAST
- 13.6. KEY COUNTRIES
- 13.7. US: MARKET SIZE & FORECAST
- 13.8. CANADA: MARKET SIZE & FORECAST
14. EUROPE
- 14.1. MARKET OVERVIEW
- 14.2. MARKET SIZE & FORECAST
- 14.3. PRODUCT
- 14.3.1. MARKET SIZE & FORECAST
- 14.4. END-USER
- 14.4.1. MARKET SIZE & FORECAST
- 14.5. DISTRIBUTION CHANNEL
- 14.5.1. MARKET SIZE & FORECAST
- 14.6. KEY COUNTRIES
- 14.7. SWITZERLAND: MARKET SIZE & FORECAST
- 14.8. GERMANY: MARKET SIZE & FORECAST
- 14.9. UK: MARKET SIZE & FORECAST
- 14.10. FRANCE: MARKET SIZE & FORECAST
- 14.11. ITALY: MARKET SIZE & FORECAST
- 14.12. SPAIN: MARKET SIZE & FORECAST
- 14.13. RUSSIA: MARKET SIZE & FORECAST
15. APAC
- 15.1. MARKET OVERVIEW
- 15.2. MARKET SIZE & FORECAST
- 15.3. PRODUCT
- 15.3.1. MARKET SIZE & FORECAST
- 15.4. END-USER
- 15.4.1. MARKET SIZE & FORECAST
- 15.5. DISTRIBUTION CHANNEL
- 15.5.1. MARKET SIZE & FORECAST
- 15.6. KEY COUNTRIES
- 15.7. CHINA: MARKET SIZE & FORECAST
- 15.8. INDIA: MARKET SIZE & FORECAST
- 15.9. JAPAN: MARKET SIZE & FORECAST
- 15.10. SOUTH KOREA: MARKET SIZE & FORECAST
- 15.11. AUSTRALIA: MARKET SIZE & FORECAST
16. LATIN AMERICA
- 16.1. MARKET OVERVIEW
- 16.2. MARKET SIZE & FORECAST
- 16.3. PRODUCT
- 16.3.1. MARKET SIZE & FORECAST
- 16.4. END-USER
- 16.4.1. MARKET SIZE & FORECAST
- 16.5. DISTRIBUTION CHANNEL
- 16.5.1. MARKET SIZE & FORECAST
- 16.6. KEY COUNTRIES
- 16.7. BRAZIL: MARKET SIZE & FORECAST
- 16.8. MEXICO: MARKET SIZE & FORECAST
- 16.9. ARGENTINA: MARKET SIZE & FORECAST
- 16.10. COLOMBIA: MARKET SIZE & FORECAST
17. MIDDLE EAST AND AFRICA
- 17.1. MARKET OVERVIEW
- 17.2. MARKET SIZE & FORECAST
- 17.3. PRODUCT
- 17.3.1. MARKET SIZE & FORECAST
- 17.4. END-USER
- 17.4.1. MARKET SIZE & FORECAST
- 17.5. DISTRIBUTION CHANNEL
- 17.5.1. MARKET SIZE & FORECAST
- 17.6. KEY COUNTRIES
- 17.7. TURKEY: MARKET SIZE & FORECAST
- 17.8. SAUDI ARABIA: MARKET SIZE & FORECAST
- 17.9. SOUTH AFRICA: MARKET SIZE & FORECAST
- 17.10. UAE: MARKET SIZE & FORECAST
18. COMPETITIVE LANDSCAPE
- 18.1. COMPETITION OVERVIEW
- 18.1.1. VENDOR ACTIVITIES
19. KEY COMPANY PROFILES
- 19.1. ESCO LIFESCIENCES
- 19.1.1. BUSINESS OVERVIEW
- 19.1.2. PRODUCT OFFERINGS
- 19.1.3. KEY STRATEGIES
- 19.1.4. KEY STRENGTHS
- 19.1.5. KEY OPPORTUNITIES
- 19.2. JUSTRITE SAFETY GROUP
- 19.2.1. BUSINESS OVERVIEW
- 19.2.2. PRODUCT OFFERINGS
- 19.2.3. KEY STRATEGIES
- 19.2.4. KEY STRENGTHS
- 19.2.5. KEY OPPORTUNITIES
- 19.3. KEWAUNEE INTERNATIONAL GROUP
- 19.3.1. BUSINESS OVERVIEW
- 19.3.2. PRODUCT OFFERINGS
- 19.3.3. KEY STRATEGIES
- 19.3.4. KEY STRENGTHS
- 19.3.5. KEY OPPORTUNITIES
- 19.4. THERMO FISHER SCIENTIFIC
- 19.4.1. BUSINESS OVERVIEW
- 19.4.2. PRODUCT OFFERINGS
- 19.4.3. KEY STRATEGIES
- 19.4.4. KEY STRENGTHS
- 19.4.5. KEY OPPORTUNITIES
20. OTHER PROMINENT VENDORS
- 20.1. ACMAS TECHNOLOGIES PVT. LTD.
- 20.1.1. BUSINESS OVERVIEW
- 20.1.2. PRODUCT OFFERINGS
- 20.2. AIR SCIENCE USA LLC
- 20.2.1. BUSINESS OVERVIEW
- 20.2.2. PRODUCT OFFERINGS
- 20.3. AIRCLEAN SYSTEMS INC.
- 20.3.1. BUSINESS OVERVIEW
- 20.3.2. PRODUCT OFFERINGS
- 20.4. ASECOS GMBH
- 20.4.1. BUSINESS OVERVIEW
- 20.4.2. PRODUCT OFFERINGS
- 20.5. AZBIL TELSTAR, SLU
- 20.5.1. BUSINESS OVERVIEW
- 20.5.2. PRODUCT OFFERINGS
- 20.6. BERNER INTERNATIONAL GMBH
- 20.6.1. BUSINESS OVERVIEW
- 20.6.2. PRODUCT OFFERINGS
- 20.7. BIOBASE BIODUSTY
- 20.7.1. BUSINESS OVERVIEW
- 20.7.2. PRODUCT OFFERINGS
- 20.8. BIOLAB SCIENTIFIC
- 20.8.1. BUSINESS OVERVIEW
- 20.8.2. PRODUCT OFFERINGS
- 20.9. CARON PRODUCTS
- 20.9.1. BUSINESS OVERVIEW
- 20.9.2. PRODUCT OFFERINGS
- 20.10. CONTAINED AIR SOLUTIONS
- 20.10.1. BUSINESS OVERVIEW
- 20.10.2. PRODUCT OFFERINGS
- 20.11. CRUMA
- 20.11.1. BUSINESS OVERVIEW
- 20.11.2. PRODUCT OFFERINGS
- 20.12. DURHAM MANUFACTURING
- 20.12.1. BUSINESS OVERVIEW
- 20.12.2. PRODUCT OFFERINGS
- 20.13. FASTER S.R.L.
- 20.13.1. BUSINESS OVERVIEW
- 20.13.2. PRODUCT OFFERINGS
- 20.14. GERMFREE
- 20.14.1. BUSINESS OVERVIEW
- 20.14.2. PRODUCT OFFERINGS
- 20.15. H2I GROUP
- 20.15.1. BUSINESS OVERVIEW
- 20.15.2. PRODUCT OFFERINGS
- 20.16. HAIER BIOMEDICAL
- 20.16.1. BUSINESS OVERVIEW
- 20.16.2. PRODUCT OFFERINGS
- 20.17. HEAL FORCE
- 20.17.1. BUSINESS OVERVIEW
- 20.17.2. PRODUCT OFFERINGS
- 20.18. INFITEK
- 20.18.1. BUSINESS OVERVIEW
- 20.18.2. PRODUCT OFFERINGS
- 20.19. JOINTLAB S.R.L.
- 20.19.1. BUSINESS OVERVIEW
- 20.19.2. PRODUCT OFFERINGS
- 20.20. KOTTERMANN GMBH
- 20.20.1. BUSINESS OVERVIEW
- 20.20.2. PRODUCT OFFERINGS
- 20.21. LABCONCO
- 20.21.1. BUSINESS OVERVIEW
- 20.21.2. PRODUCT OFFERINGS
- 20.22. LAMSYSTEMS CC
- 20.22.1. BUSINESS OVERVIEW
- 20.22.2. PRODUCT OFFERINGS
- 20.23. NUAIRE
- 20.23.1. BUSINESS OVERVIEW
- 20.23.2. PRODUCT OFFERINGS
- 20.24. PHOTON CLEANTECH INC.
- 20.24.1. BUSINESS OVERVIEW
- 20.24.2. PRODUCT OFFERINGS
- 20.25. SCALA SCIENTIFIC
- 20.25.1. BUSINESS OVERVIEW
- 20.25.2. PRODUCT OFFERINGS
- 20.26. SCIMATCO
- 20.26.1. BUSINESS OVERVIEW
- 20.26.2. PRODUCT OFFERINGS
- 20.27. SECURA SWEDEN AB
- 20.27.1. BUSINESS OVERVIEW
- 20.27.2. PRODUCT OFFERINGS
- 20.28. STOREMASTA
- 20.28.1. BUSINESS OVERVIEW
- 20.28.2. PRODUCT OFFERINGS
- 20.29. SUZHOU ANTAI AIRTECH CO. LTD.
- 20.29.1. BUSINESS OVERVIEW
- 20.29.2. PRODUCT OFFERINGS
- 20.30. TERRA UNIVERSAL INC.
- 20.30.1. BUSINESS OVERVIEW
- 20.30.2. PRODUCT OFFERINGS
- 20.31. YAMATO SCIENTIFIC CO. LTD.
- 20.31.1. BUSINESS OVERVIEW
- 20.31.2. PRODUCT OFFERINGS
21. REPORT SUMMARY
- 21.1. KEY TAKEAWAYS
- 21.2. STRATEGIC RECOMMENDATIONS
22. QUANTITATIVE SUMMARY
- 22.1. MARKET BY GEOGRAPHY
- 22.2. PRODUCT: MARKET SIZE & FORECAST
- 22.3. END-USER: MARKET SIZE & FORECAST
- 22.4. DISTRIBUTION CHANNEL: MARKET SIZE & FORECAST
23. APPENDIX
- 23.1. RESEARCH METHODOLOGY
- 23.2. RESEARCH PROCESS
- 23.3. REPORT ASSUMPTIONS & CAVEATS
- 23.3.1. KEY CAVEATS
- 23.3.2. CURRENCY CONVERSION
- 23.4. ABBREVIATIONS