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.
Fuel cards are used as a payment
card for diesel, gasoline, and other fuels at the gas station. 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, acquisitions, and new product launches that maximize their market
share in the global fuel card market.
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.
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.
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.
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.