Fuel Cards Market Global Share 2022-2027: Industry Report, Trends, Growth, Size, Future Scope and Opportunities

The latest research study "Fuel Cards Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global fuel cards market reached a value of US$ 654.75 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,286.83 Billion by 2027, exhibiting a CAGR of 11.70% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

Fuel cards are payment solutions utilized for budgeting and managing vehicle-related expenses while reducing the hassle of administrating costly reimbursements and expense reports. They can be used by employees who operate corporate vehicles for maintenance and other related costs and repairs. Fuel cards are generally protected via individual personal identification numbers (PINs) and anti-fraud technology to make tracking easier. They manage multiple cards, offer online access to the linked account, set up reporting systems, and assist in downloaded statements. As a result, fuel cards find widespread applications for individual and corporate vehicles.

Global Fuel Cards Market Trends and Drivers:

The escalating demand for digital payment methods, the incorporation of the internet of things (IoT), and the increasing focus on efficient fleet administration are driving the fuel cards market. Besides this, the elevating utilization of these solutions by small and medium-scale enterprises (SMEs) to set spending limits, track purchases in real-time, and manage expenses is further augmenting the market growth.

Apart from this, the integration of fleet fuel cards with embedded chips and the introduction of smartcards, which are more durable than magnetic strips, quick response (QR) codes, and near-field communication (NFC) technology via mobile apps to handle payments are also catalyzing the global market. Moreover, the growing popularity of these solutions that offer discounted prices and other rebates to consumers is acting as another significant growth-inducing factor. Furthermore, the development of customized solutions with detailed reporting is expected to bolster the fuel cards market in the coming years.

Global Fuel Cards Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Absa Group Limited, BP p.l.c., Chevron Corporation, Engen Petroleum Ltd., Exxon Mobil Corporation, FirstRand Limited, FleetCor Technologies Inc., Puma Energy (Trafigura Group Pte. Ltd.), Shell plc, TotalEnergies SE, U.S. Bancorp and WEX Inc.

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The report has segmented the market on the basis of region, type, technology, application and end user.

Breakup by Type:
• Branded
• Universal
• Merchant

Breakup by Technology:
• Smart Cards
• Standard Cards

Breakup by Application:
• Fuel Refill
• Parking
• Vehicle Services
• Toll Charges
• Others

Breakup by End User:
• Individual
• Corporate

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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