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Fuel Card Market to Reach US$ 1447.75 Billion by 2032 at 9.32% CAGR, Driven by Fleet Management Efficiency and Rising Fuel Cost Control Needs | DataM Intelligence

01-21-2026 08:43 AM CET | IT, New Media & Software

Press release from: DataM Intelligence 4 Market Research LLP

Fuel Card Market

Fuel Card Market

According to DataM Intelligence, the global Fuel Card market was valued at US$ 720.21 billion in 2024 and is projected to reach US$ 1447.75 billion by 2032, expanding at a CAGR of 9.32% from 2025 to 2032, driven by increasing adoption by commercial fleets for fuel expense tracking and cost savings, strong growth in branded and universal fuel cards, expanding applications beyond fuel refill to parking, vehicle services, and tolls, and rapid penetration in Asia-Pacific with rising logistics and transportation activities.

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Fuel Card Market Key Mergers and Acquisitions

✦ January 2026: WEX Inc. acquired a regional fleet payment solutions provider to expand its universal fuel card network and enhance digital payment capabilities for commercial fleets.
✦ December 2025: FleetCor Technologies, Inc. completed a strategic acquisition of a fuel card fintech startup to strengthen its branded and merchant card offerings with improved analytics and fraud prevention.
✦ November 2025: BP P.L.C. secured a partnership and equity investment in a digital fuel card platform to integrate advanced mobile payment and telematics features into its branded fuel card ecosystem.

Fuel Card Market Key Industry Developments

☑️ January 2026: WEX Inc., FleetCor Technologies, Inc., and Exxon Mobil Corporation launched updated fuel card platforms with enhanced real-time tracking, mobile apps, and integration for parking, tolls, and vehicle services, targeting large commercial fleets in North America and Europe.
☑️ December 2025: Royal Dutch Shell plc and U.S. Bancorp expanded their branded fuel card programs with new rewards and sustainability incentives, gaining adoption among logistics and transportation companies.
☑️ November 2025: FirstRand Bank Limited and Puma rolled out merchant and universal fuel card solutions with improved fraud detection and contactless payment features, focusing on growth in Asia-Pacific and African markets.

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Fuel Card Market Segmentation Analysis

By Type: Branded fuel cards hold the largest share due to strong loyalty programs, exclusive discounts, and widespread acceptance at company-owned stations; Universal fuel cards grow fastest for multi-network access and flexibility across brands; Merchant fuel cards expand steadily for retailer-specific benefits and localized fleet management.

By Application: Fuel Refill dominates with core usage for fuel purchase control and expense tracking; Parking, Vehicle Services, and Toll Charge grow rapidly with integrated multi-purpose cards; Others include maintenance, lubricants, and roadside assistance services.

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Fuel Card Market Key Players

✦ WEX Inc. - In January 2026, acquired a fleet payment solutions provider and expanded universal fuel card features with real-time telematics and multi-service integration for commercial fleets.
✦ FleetCor Technologies, Inc. - Completed acquisition of a fuel card fintech in December 2025 and launched enhanced analytics and fraud prevention tools across branded and merchant networks.
✦ BP P.L.C. - Invested in a digital fuel card platform in November 2025 and rolled out mobile payment and sustainability rewards for branded cards in Europe and Asia-Pacific.
✦ Exxon Mobil Corporation - Introduced updated branded fuel card programs in late 2025 with loyalty incentives and vehicle service tracking, targeting large fleet operators in North America.
✦ Royal Dutch Shell plc - Expanded branded fuel card acceptance and rewards in December 2025, focusing on parking and toll integration for commercial transportation customers.

Fuel Card Market Regional Insights

North America commands the largest market share in the global Fuel Card market, supported by extensive commercial fleet operations, high fuel consumption in logistics and transportation, strong adoption of universal and branded cards, advanced telematics integration, and presence of leading providers driving innovation in expense management and fraud prevention.

Asia-Pacific remains the fastest-growing region, fueled by rapid growth in logistics, e-commerce delivery fleets, and commercial transportation in China, India, and Southeast Asia, increasing fuel cost pressures, expanding acceptance networks, government initiatives for digital payments, and aggressive market entry by global and regional fuel card providers.

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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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