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Fuel Card Market (Type - Branded, Universal, and Merchant; Technology - Standard Card, and Smart Card; End-user - Individual, and Corporate): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : November, 2019

  • Rep Id : CGP041

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on fuel card market provides an in-depth analysis of segments and sub-segments in the global as well as regional fuel card market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional fuel card market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global fuel card market. According to the report, the global fuel card market is projected to grow at a CAGR of 6.2% over the forecast period of 2019-2025.


Market Insight

Fuel cards are used as a payment card for diesel, gasoline, and other fuels at the gas station. It is also used to pay for vehicle maintenance and expenses at the discretion of the fleet owner. The growing digitalization of payments drives the fuel card market growth significantly. Companies operating in the global fuel card market are adopting strategies such as mergers and acquisitions that maximize their market share in the global fuel card market. In April 2019, Radius Payment Solutions has acquired Plant-I, which is a leading provider of telematics and detailed risk management solutions for the construction sector.


Various advantages of fuel cards such as the reduction in risk of fraud, minimize form filling and improve tracking and reporting stimulate the growth of fuel card market. The rapidly rising digitalization in developing countries drives the growth of the fuel card market. The increasing use of mobile payments contributes to fuel card market growth. The growing need to monitor spending through mobile payments and fuel rebates drives the growth of the fuel card market. In addition, the surge in the number of internet users globally propels the growth of the fuel card market. On the other side, the risk of fraudulent attacks and the threat of hacking hamper the growth of the fuel card market. Moreover, technological advancement encourages new product launches that create several opportunities for the growth of the fuel card market.


Based on geography, the global fuel card market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. Europe is anticipated to hold a premium share in the global fuel card market. The growing adoption of new payment methods in Europe drives the growth of the fuel card market in Europe. North America is expected to hold a significant share in the global fuel card market due to the rising adoption of advanced technology. Asia-Pacific region is anticipated to grow in the global fuel card market with a healthy CAGR over the forecast period. The surge in the adoption of branded cards in non-metro cities and towns in India promotes the growth of the fuel card market in the Asia-Pacific region.


Segment Covered

The report on the global fuel card market covers segments such as type, technology, and end-user. On the basis of type, the sub-markets include branded, universal, and merchant. On the basis of technology, the sub-markets include standard card, and smart card. On the basis of end-user, the sub-markets include individual, and corporate.


Companies Profiled:

The report provides profiles of the companies in the market such as Caltex Corporation, BP plc, Engen Petroleum Ltd., Royal Dutch Shell PLC, Standard Bank Group Ltd., Puma Energy Holdings Pte Ltd., Total S.A., Absa Bank Ltd., Wex Inc., First National Bank Corporation, and other companies.


Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the fuel card market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.

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