Press release
Fuel Cards Market Size, Share, Trends, Analysis And Industry Forecast 2023-2032
Fuel Cards Market Report
The Business Research Company's Fuel Cards Global Market Report 2023 identifies the expanding logistic sector as the major driver for the fuel cards market's growth in the forecast period. The logistics sector collects, manufactures, and delivers materials and goods at the proper location and quantity. The fuel card allows operators to manage finances carefully, keep track of each driver's spending, and monitor fueling habits.
The global fuel card market is expected to grow from $720.08 billion in 2022 to $802.61 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The fuel card market is expected to reach $1197.46 billion in 2027 at a CAGR of 10.5%.
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Major competitors in the fuel cards market are Exxon Mobil Corporation, TotalEnergies SE, Chevron Corporation, BP plc, Valero Energy Corporation.
A key trend in the fuel cards market includes product innovation. Major players in the fuel card market are concentrating on creating revolutionary products to improve their market share. For instance, in July 2022, BP p.l.c., a UK-based oil and gas company, in collaboration with First National Bank of Omaha (FNBO), a US-based financial services corporation, launched an innovative and unique BPme Rewards Signature Visa Credit Card. The new BPme Rewards Visa presents an updated version of the conventional fuel card that enhances consumer benefits by fusing the strength of BPme Rewards with features found on standard credit cards, such as cash-back incentives and flexible redemption possibilities. The BPme Rewards Visa offers cardholders more purchasing power and chances to accrue rewards because it can be used everywhere Visa is accepted.
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https://www.thebusinessresearchcompany.com/report/fuel-cards-global-market-report
The fuel cards market is segmented -
•By Type: Branded, Universal, Merchant
•By Technology: Smart Cards, Standard Cards
•By Application: Fuel Refill, Parking, Vehicle Service, Toll Charges, Other Applications
•By Vehicle: Heavy Fleet, Light Fleet
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the fuel cards market.
The Business Research Company's "Global Fuel Cards Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Fuel Cards Market Include:
1. Executive Summary
2. Fuel Cards Market Characteristics
3. Fuel Cards Market Trends And Strategies
4. Fuel Cards Market - Macro Economic Scenario
5. Global Fuel Cards Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……
32. Global Fuel Cards Market Competitive Benchmarking
33. Global Fuel Cards Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fuel Cards Market
35. Fuel Cards Market Future Outlook and Potential Analysis
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