Fuel Card Market Size, Share, Trends, Industry Demand, Business Opportunities, Future Outlook, Revenue and Forecast 2030

May 16 22:35 2022
Fuel Card Market Size, Share, Trends, Industry Demand, Business Opportunities, Future Outlook, Revenue and Forecast 2030
Fuel Card Market
Fuel Card Market Information by Card Type (Business Fuel Card, Individual Fuel Card, Prepaid Fuel Card Service), Vehicle Type (Heavy Fleets, Light Fleets), Application (Fuel Refill, Parking, Vehicle Service, Toll Charge), and Region- – Forecast to 2030

Fuel Card Market Overview

The Fuel card market share valuation is expected to garner USD 1113.1 billion by 2030, with a compound annual growth rate of 11.6% during the period of assessment. The fuel card services are enjoying major limelight owing to the ease and convenience it is presenting to the global target audience. Market Research Future’s (MRFR) study on the same industry has a sharp eye on the drivers who are likely to play a major role in the company’s development in the coming years.

Fuel Card Market Highlights

Cashless fuel transaction is becoming the norm as most prefer to avoid unreasonable difficulties while refueling their car and want to move on as quickly as possible. This is making such a buzz and the card companies are seeking to draw incentive points and other incentives even more consumers that significantly fann the spark for a stronger growth of the fuel card market in the years ahead.

The fuel card market is now attracting tremendous attention from fleet administrators and vehicle owners who tend to keep an eye on fuel usage in order to maximize logistics by reducing costs.

Going cashless however has its own chance. A daunting security breach threat is looming all the time and it can considerably endanger the privacy issues that can be a deterrent to the fuel card market during the forecast period. At the same time, the regulatory system may still raise certain concerns that can discourage others from entering the wagon.

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Market Segmentation

The fuel card market is sectioned into three forms such as card type, vehicle type, and application.

Card Type Segmentation: Based on card type, the fuel card is segmented into business fuel cards, individual fuel cards, and prepaid fuel cards.

Vehicle Type Segmentation: On the basis of vehicle type segmentation, the fuel card market is bifurcated into heavy fleets and light fleets.

Application Segmentation: Based on the application, the fuel card market is classified into various forms such as parking, vehicle service, fuel refill, toll charge, and others.

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Regional Analysis

It is expected that North America would have a considerable market share in the fuel card market produced by gasoline cards during the projection period. The most accessible gasoline card is the universal card since suppliers of such cards frequently work with different fuel sources and can provide a wide range of options. Certain fuel card market firms only function in certain nations or areas, while others would only be recognized at specific gas stations. Concerns should be considered when restricting a user’s choice of gasoline stations to a small number in their area.

The expanding rise in population usage of automobiles in the Asia Pacific area will also lead to significant growth throughout the projection period. The expansion of this area will largely be driven by India and China, the continent’s two largest countries. Fuel card market expansion is also being accelerated by the developing IT sector and substantial expenditures by commercial and public entities.

Key Players

The fuel card market key companies are Fuelman (U.S.), Royal Dutch Shell (Netherlands), ExxonMobil (U.S.), Bp (U.K.), OiLibya (Libya), Puma Energy (Singapore), Arco Limited (UK), First National Bank (U.S.), British Petroleum (U.K.), SPC (Singapore), Caltex (Singapore), Citibank (US), Wex Inc. (U.S.),

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Industry News     

Investing in firms with strong development potential connected to Edenred’s operations is a priority for Edenred Capital Partners. To improve the ecology of the Group, useful synergies will be initiated with the funded enterprises.

About Market Research Future:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

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