Fuel Card Market is Expected to Witness Healthy Growth at 6.5% CAGR through 2030

The global fuel card market is estimated to grow at a CAGR of over 6.5% during the forecast period (2020-2030), reaching a value pool of over US$ 2,500 Bn. The convergence of the IT sector and the banking sector has led to digital revolutionary changes in the way individual banks operate. Multinational companies and large business organizations are riding the wave of digitization in monetary transactions. This is anticipated to forward the global fuel card market.

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Global Fuel Card Market: In-Depth Assessment on Key Segments
The global fuel card market is segmented on the basis of type of fleet, card type, subscription type, fleet type, end-use, and region.

Type of Fleet

Truck Fleet Operators
Business Fleet
Construction Fleet Operators
Other Customer Group

Card Type

Universal Fuel Card
Fuel Credit Cards
OnG Corporation Cards
Network Cards
Over the Road Fuel Cards

Subscription Type

Bearer Card
Registered Card

Fleet Type

Commercial Fleet
Over the Road

Use Case

Oil Fees Payment
Parking Fees
Toll Fee Payment
Fleet Maintenance
Other Payments

Region

North America
Latin America
Europe
East Asia

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A comprehensive estimate of the Fuel Card market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the Sales of Fuel Card during the forecast period. Price point comparison by region with the global average price is also considered in the study.
The Market survey of Fuel Card offers a comprehensive analysis of diverse features, including production capacities analysis of Fuel Card, demand, product developments, revenue generation, and Size of Fuel Card Market across the globe.

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Some Notable Offerings by Fact.MR Report on Fuel Card market:

• Fact.MR will provide you an analysis of the extent to which this Fuel Card market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
• Fact.MR will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
• Also, this report will help you to identify any trends to forecast growth rates.
• The analyzed report will forecast the general tendency for supply and demand.

Forecast Highlights on Global Fuel Card Market

APEJ region is expected to remain dominant in the global fuel card market. Witnessing a steady growth, the region is estimated to reach close to US$ 3,500 million by the end of 2031.

North America is expected to emerge as the second largest market for fuel card. Quick adoption of innovative technologies with improving profitability and significant discounts offered under fuel card programs are some of the factors fueling the growth of fuel card in the region.

Adoption of fuel card is expected to be the highest among Over the Road fleets. By the end of 2021, Over the Road fleets are projected to account for nearly one-third of the revenue share of global market value. Over the Road fleets are estimated to reach nearly US$ 3,600 million revenue by the end of 2031.

Compared to the bearer card, registered card as the type of fuel card is estimated to account for nearly two-third of the revenue share by the end of 2021. Towards the end of 2031, registered card is projected to bring in nearly US$ 7,800 million revenues.

A fuel card is expected to be largely used for Oil fees. Accounting for nearly one-third of the revenue share by 2017 end, oil fees is estimated to create an incremental opportunity of over US$ 600 million between 2017 and 2022. Meanwhile, fleet maintenance will also witness significant growth in the global fuel card market.

Some of the Fuel Card Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:

• Details regarding latest innovations and development in Fuel Card and how it is gaining customer traction during the forecast period.
• Analysis about the customer demand of the products and how it is likely to evolve in coming years.
• Latest regulations enforced by government bodies and local agencies and their impact on Demand of Fuel Card Market .
• Insights about adoption of new technologies and its influence on the Fuel Card market Size.
• Overview of the impact of COVID-19 on Fuel Card Market and economic disruptions caused by the pandemic.
• Evaluates post-pandemic impact on the Sales of Fuel Card Market during the forecast period.

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After reading the Market insights of Fuel Card Report, readers can:

• Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
• Analyze key regions holding significant share of total Fuel Card market revenue.
• Study the growth outlook of Fuel Card market scenario, including production, consumption, history and forecast.
• Learn consumption pattern and impact of each end use & supply side analysis of Fuel Card market.
• Investigate the recent R&D projects performed by each market player & competitive analysis of Fuel Card Market Players.

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• The data provided in the Fuel Card market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
• The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

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