Over the period of next seven years global fuel card market size is expected to register a CAGR of xx% in terms of revenue and reach US$ xx million by 2025, rising from US$ xx million in historical year. One of the major factor driving the fuel card market growth is developing competition in the market because of the new entrants including Fuelman, Fleeti and others. Moreover, another factor fueling the market’s growth over the forecast period is value added services provided by fleet cards. On the other hand, there are certain factors restraining the fuel card market growth such as, presence of technical challenges caused by fluctuating prices of oil and fuel in international markets. Also, rising customer expectations plus altering legal framework are expected to challenge the market’s growth in upcoming years.
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Additionally, fuel card helps in reducing fuel theft by chip as well as pin cards and also enables effective monitoring of fuel. Besides, there are several factors impacting the fuel card market growth including rising internet penetration and new modes of payments; prone to online attacks, lack of IT infrastructure in underdeveloped countries like Africa, Latin America and the Middle East. Moreover, Europe region dominates the global market with highest fuel card market share and is anticipated to maintain its position over the forecast period.
The fuel card market across the globe has been segmented by different, type, application and geography. Further, type segment of the market is sub-divided into universal, branded and merchant. Similarly, application segment is sub-segmented into parking, fuel refill, toll charge, vehicle service and others. Geographical segmentation of the fuel cards market is classified into key regions including Europe, North America, Asia-Pacific and LAMEA.
Key players in Fuel card market are leveraging online channels as well as mobile applications to provide effective services, thus providing Omni-channel experience to the shoppers. Moreover, in order to augment the usage of fuel cards, emulation of host card is increasingly been adopted, that offers intramural payment solutions. Some of the key players in the competitive landscape of global fuel card market include Shell Global, Chevron & Texaco Business U.S, Bancorp Fuel card, WEX Inc., British Petroleum (BP), FLEETCORRoyal Dutch, Comdata, Valero and Shell.
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Key segments of global fuel card market include:
Type Segment of fuel card market
• Branded
• Universal
• Merchant
Application segmentation of fuel card market
• Fuel Refill
• Parking
• Vehicle Service
• Toll Charge
• Others
Geographical segmentation of fuel card market
• North America (the U.S. & Canada)
• Latin America (Brazil, Mexico, Peru, Chile & others)
• Western Europe (Germany, France, U.K., Spain, Nordic countries, Italy, Belgium, Netherlands & Luxembourg)
• Eastern Europe (Poland & Russia)
• Asia Pacific (India, China, Japan, Australia, ASEAN & New Zealand)
• Middle East and Africa (Southern Africa, GCC & North Africa)
What to expect from the upcoming report on ‘Global Fuel Card market’:
– Analyzes about future prospects as well as Global Fuel Card market trends market over the forecast period (2018-2025)
– Information regarding technological progressions as well as innovations taking place in developing as well as developed economies.
– Supportive initiatives by government likely to influence the market dynamics.
– Key drivers influencing market’s growth, opportunities, restraints, sales channels and distributors.
– In-depth analysis of different market segmentations including regional segmentations, application and type.
– Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market.
Who should buy this report?
– Report is especially designed for Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers, researchers, strategy managers and academic institutions looking for insights into the market to determine future strategies.
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