Powertrain Control Module (PCM) Market - Forecast(2021 - 2026)
The increased demand for Commercial Vehicles and industrial vehicles is reflecting positively on the automotive powertrain control module (PCM) market. Due to the continuous depletion of fossil fuels , the stringent rules to operate automobiles in optimum manner have gained momentum. A PCM is one of the most important elements of an automobile. As per a report released by the European Automobile Manufacturers Association (ACEA), 98.9 million motor vehicles were produced globally in 2017. [1] The PCM market was valued at $29.53 billion in 2018 and is estimated to grow at a compound annual growth rate of 6.19% during the forecast period 2019-2025. Request Sample Asia-Pacific is the leading market for PCMs. The region is recognized for high sales of PCMs owing to the exponential growth of the automotive industry. ,. The emerging technologies have also contributed to the growth of the market. The APAC region accounted for 27.14% share of the global PCM mar...