Europe Fuel Card Market Forges Ahead Expeditiously - Analysis of Leading Market Players BP p.l.c., Engen Petroleum Ltd., Exxon Mobil Corporation, FirstRand Bank Limited, FleetCor Technologies, Inc.

This report provides a detailed analysis of the changing market trends, key drivers & opportunities, investment pockets, competitive intelligence, and estimations for the forecast period. According to the report, the Europe fuel card market garnered $257.2 billion in 2017 and is expected to reach $374.5 billion by 2025, growing a CAGR of 5.0% from 2018 to 2025.

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Increasing adoption of prepaid cards, rising preference for digital payments, and the growing demand for fuel cards in transportation & logistics industries are the key factors contributing to the growth of the industry. However, security issues regarding fuel cards would limit the growth of the market. On the other hand, technological advancements, improved convenience, and growth in prepaid & contactless card industry would create new opportunities in the future.

Competitive Analysis of Leading Market Players

-BP p.l.c.
-Engen Petroleum Ltd.
-Exxon Mobil Corporation
-FirstRand Bank Limited
-FleetCor Technologies, Inc.
-Libya Oil Holdings Ltd.
-Puma Energy
-Royal Dutch Shell plc
-U.S. Bancorp
-WEX Inc.

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Universal fuel cards to maintain its lion's share

The nationwide adoption of the universal fuel card enabled this segment to contribute nearly half of the total market revenue in 2017. This segment is expected to maintain its lead during the forecast period. However, in terms of growth rate, the merchant segment would register the fastest CAGR of 6.4% from 2018 to 2025. The branded fuel cards segment will have steady growth during the forecast period.

Analyst Says,

The adoption of fuel cards is on a continuous rise, owing to the increase in cashless payment transactions. Moreover, the need to ensure compliance with company fuel usage policies is anticipated to boost the adoption of fuel cards market among enterprises.

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