Fuel Cards market was valued at US$ 814.83 Bn. in 2022. Fuel Cards Market size is estimated to grow at a CAGR of 12.31 % over the forecast period.
Fuel Cards Market Overview:A fuel card is an alternate payment mechanism for drivers that enables to keep track of spending, set usage limits, and more effectively record expenses. It can also aid in cost-control for fuel used by company’s vehicles. There are numerous advantages to budgeting with a fuel card, regardless of the number of vehicles in fleet. The assurance that money is being spent wisely is provided by limiting purchases to fuel only. Some fuel cards also include inevitable expenditures like paying toll fees or tyre repair costs. To know about the Research Methodology :- Request Free Sample Report The report explores the Fuel Cards Market's segments (Type, Application). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Fuel Cards Market’s drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Fuel Cards Market's contemporary competitive scenario.
Fuel Cards Market Segment Analysis:Based on Type, Universal segment is dominating the market with the highest CAGR of xx% during the forecast period. One of the main drivers of the segment's growth is the widespread use of universal gasoline cards in different types of payment terminals. SMEs and large businesses typically use fuel cards to monitor their fuel usage and conveniently make cashless payments. These cards are most frequently used by companies and organisations involved in fleet management and transportation. Various businesses that operate in the sector provide various card types. These cards are used for a variety of purposes in addition to fuel refills. Fuel cards issued by a company can generally be classified as branded or independent. Based on the Application, Fuel Refill segment is dominating the market with highest CAGR of xx% during the forecast period. The transaction value of these fuel cards has been growing owing to the high application of fuel cards in fuel refills. For example, Hindustan Petroleum Corporation Limited introduced the HPCL HP Refuel program, a powerful payment programme that gives owners and drivers a complete fuel management solution. This solution is provided with control, security, convenience and attractive reward points.
Regional Insights:The Europe region dominated the market with highest share in 2022. The region is expected to witness significant growth at a CAGR of xx% through the forecast period. Due to rapid growth in the automotive industry and advancements in smart chip technology, the Europe fuel cards market had the largest market size in 2022. To improve their product offering, global players concentrate on providing value-added services like paying for vehicle repairs and other costs. In order to prevent fraud and improper use of payment transactions, industry participants are also focused on delivering increased security. Fuel cards are gaining significant consumer awareness, which is fuelling industry expansion in the area. Additionally, people are tracking their fuel purchases as a result of increased fuel prices, which enables them to reduce their fuel expenses. This growth is being driven by increased research activities, a rise in the demand for cars and their parts, a rise in the number of market participants making efforts to expand their presence in APAC, as well as a stronger adoption of Fuel Cards in various APAC countries. The region has been more urbanized, turning rural areas into cities, as a result of increases in GDP per capita and infrastructure development. The unexpected surge in demand has caused cities to adopt unsustainable spending patterns. The objective of the report is to present a comprehensive analysis of the Fuel Cards Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Fuel Cards Market dynamic, structure by analyzing the market segments and projecting the Fuel Cards Market size. Clear representation of competitive analysis of key players by Vehicle Type, price, financial position, product portfolio, growth strategies, and regional presence in the Fuel Cards Market make the report investor’s guide.
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Fuel Cards Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US$ 814.83 Bn. Forecast Period 2023 to 2029 CAGR: 12.31 % Market Size in 2029: US$ 1836.52 Bn. Segments Covered: by Type BRANDED UNIVERSAL MERCHANT by Application FUEL REFILL PARKING VEHICLE SERVICES TOLL CHARGE OTHERS by Technology Smart Cards Standard Cards
Fuel Cards Market by RegionNorth America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (razil, Argentina Rest of South America)
Key Players:1. BP P.L.C. 2. Engen Petroleum Ltd 3. Exxon Mobil Corporation 4. FirstRand Bank Limited 5. FleetCor Technologies, Inc. 6. Libya Oil Holdings Ltd. 7. Puma 8. Royal Dutch Shell plc 9. U.S. Bancorp 10. WEX Inc. 11. Shell Group 12. Total fuel Card 13. Caltex 14. Absa Bank Limited 15. Standard Bank 16. First National Bank (FNB). Frequently Asked Questions: 1] What segments are covered in the Global Fuel Cards Market report? Ans. The segments covered in the Fuel Cards Market report are based on Type, Application. 2] Which region is expected to hold the highest share in the Fuel Cards Market? Ans. Europe is expected to hold the highest share in the Fuel Cards Market. 3] What is the market size of the Fuel Cards Market by 2029? Ans. The market size of the Fuel Cards Market by 2029 is expected to reach US$ 1836.52 Bn. 4] What is the forecast period for the Fuel Cards Market? Ans. The forecast period for the Fuel Cards Market is 2023-2029. 5] What was the market size of the Fuel Cards Market in 2022? Ans. The market size of the Fuel Cards Market in 2022 was valued at US$ 814.83 Bn.
1. Global Fuel Cards Market: Research Methodology 2. Global Fuel Cards Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Fuel Cards Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Fuel Cards Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Fuel Cards Market Segmentation 4.1 Global Fuel Cards Market, by Type (2022-2029) • BRANDED • UNIVERSAL • MERCHANT 4.2 Global Fuel Cards Market, by Application (2022-2029) • FUEL REFILL • PARKING • VEHICLE SERVICES • TOLL CHARGE • OTHERS 4.3 Global Fuel Cards Market, by Technology (2022-2029) • Smart Cards • Standard Cards 5. North America Fuel Cards Market(2022-2029) 5.1 North America Fuel Cards Market, by Type (2022-2029) • BRANDED • UNIVERSAL • MERCHANT 5.2 North America Fuel Cards Market, by Application (2022-2029) • FUEL REFILL • PARKING • VEHICLE SERVICES • TOLL CHARGE • OTHERS 5.3 North America Fuel Cards Market, by Technology (2022-2029) • Smart Cards • Standard Cards 5.4 North America Fuel Cards Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Fuel Cards Market (2022-2029) 6.1. European Fuel Cards Market, by Type (2022-2029) 6.2. European Fuel Cards Market, by Application (2022-2029) 6.3. European Fuel Cards Market, by Technology (2022-2029) 6.4. European Fuel Cards Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Fuel Cards Market (2022-2029) 7.1. Asia Pacific Fuel Cards Market, by Type (2022-2029) 7.2. Asia Pacific Fuel Cards Market, by Application (2022-2029) 7.3. Asia Pacific Fuel Cards Market, by Technology (2022-2029) 7.4. Asia Pacific Fuel Cards Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Fuel Cards Market (2022-2029) 8.1 Middle East and Africa Fuel Cards Market, by Type (2022-2029) 8.2. Middle East and Africa Fuel Cards Market, by Application (2022-2029) 8.3. Middle East and Africa Fuel Cards Market, by Technology (2022-2029) 8.4. Middle East and Africa Fuel Cards Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Fuel Cards Market (2022-2029) 9.1. South America Fuel Cards Market, by Type (2022-2029) 9.2. South America Fuel Cards Market, by Application (2022-2029) 9.3. South America Fuel Cards Market, by Technology (2022-2029) 9.4 South America Fuel Cards Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 BP P.L.C. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Engen Petroleum Ltd 10.3 Exxon Mobil Corporation 10.4 FirstRand Bank Limited 10.5 FleetCor Technologies, Inc. 10.6 Libya Oil Holdings Ltd. 10.7 Puma 10.8 Royal Dutch Shell plc 10.9 U.S. Bancorp 10.10 WEX Inc. 10.11 Shell Group 10.12 Total fuel Card 10.13 Caltex 10.14 Absa Bank Limited 10.15 Standard Bank 10.16 First National Bank (FNB).