Fuel Card Market to Grow at a CAGR of 5.8% to reach US$ 10.39 Billion to 2027

The global Fuel Card Market is estimated to account US$ 6.29 Bn in 2018 and is expected to grow at a CAGR of 5.8% during the forecast period 2019 - 2027, to account to US$ 10.39 Bn by 2027.

The North America region commands a significant market share in terms of revenue generated for fuel card and it is estimated that it will continue to dominate the market share through-out the forecast period. Universal cards are the most convenient fuel card type, the providers of these cards usually partner with several fuel companies and offer great flexibility. Certain fuel card companies merely operate in some countries or regions while others may only be accepted at particular fuel stations. Users with less options in their region may need to be cautious regarding limiting them to just a few fuel stations.

The report segments the global Fuel Card Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global Fuel Card Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.

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Fuel Card Market Insights

Efficient fleet administration with the help of enhanced data capture

Fuel cards enable enhanced tracking of fleet expenses and efficiency of the fleet by tracking real-time mileage and fuel usage by vehicles in a fleet. Fleet operators use fuel cards for costs such as truck maintenance, truck repairs, fuel, truck cleaning, and replacement vehicle rental, among others. Data captured by a fuel card include odometer reading, fuel grades, fuel product, and quantity of fuel, vehicle ID, driver ID and tax information along with transaction details such as time, location, spend amount and date support rich repowering for fleet managers. This factor would be propelling the demand of fuel card market in the forecast period.

The scope of the Fuel Card Market Report:

The research report focuses on the current market trends, opportunities, future potential of the market, and competition in the Fuel Card in North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The study also provides market insights and analysis of the Fuel Card, highlighting the technological market trends, adoption rate, industry dynamics, and competitive analysis of major players in the industry.

Type Segment Insights

The fuel card market by component is segmented into branded fuel cards, merchant fuel cards, and universal fuel cards. Fuel cards are usually used by SMEs and large business to track their fuel consumption and make convenient make cashless payment. Such cards are most common for the business or organizations which deals into transportation and fleet management. Different companies operating in the space offer different card type. These cards apart from refilling fuels are used for several other purpose. Fuel card by issuer can be broadly categories independent or branded.

Major highlights of the report:

All-inclusive evaluation of the parent market
Evolution of significant market aspects
Industry-wide investigation of market segments
Assessment of market value and volume in past, present, and forecast years
Evaluation of market share
Tactical approaches of market leaders
Lucrative strategies to help companies strengthen their position in the market
Note - The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'Fuel Card' provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.

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Major key players covered in this Fuel Card Market report:

BP P.L.C., Exxon Mobil Corporation, Fleetcor Technologies, Inc., Royal Dutch Shell plc, U.S. Bank, Wex Inc., DKV, World Fuel Services, Edenerd, Radius Payment Solutions

Fuel Card Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

Reason to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Fuel Card Market.
Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
The key findings and recommendations highlight crucial progressive industry trends in the Fuel Card Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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Contact Person: Sameer Joshi

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.