Europe Fuel Cards for Commercial Fleet Market, By Card Type (Universal Fuel Cards, Branded Fuel Cards, Merchant Fuel Cards), Features (Mobile Payment & Cardless Transactions, Vehicle Reporting, Real-Time Updates, EMV Compliant, Tokenization, and Others), Subscription Type (Registered Card and Bearer Card), Utility (Fuel Fee Payment, Fleet Maintenance, Vehicle Parking Fees, Toll Fee Payment, and Others), Fleet Type (Delivery Fleets, Taxi Cab Fleets, Car Rental Fleets, Public Utility Fleets, and Others), Industry (Transportation and Logistics, Construction, Corporate, Automotive, Food and Beverages, Healthcare, Chemical, and Others) - Industry Trends and Forecast to 2031.
Europe Fuel Cards for Commercial Fleet Market Analysis and Size
The Europe fuel cards for commercial fleet market is witnessing robust growth, driven by increased demand for monitoring fuel economy and demand for secure cashless fuel transactions. The technological advancement in fuel cards for commercial fleet drivers is the integration of advanced telematics and GPS technologies into fuel card systems. This allows fleet managers to monitor vehicle locations, optimize routes, and track fuel consumption in real-time. As the fuel cards market continues to evolve, the market presents lucrative opportunities for innovation and strategic collaborations, positioning it as a key player in shaping the future of fuel cards.
Data Bridge Market Research analyzes that the Europe fuel cards for commercial fleet market is expected to reach USD 59,557.40 million by 2031 from USD 36,784.16 million in 2023, growing at a CAGR of 6.4% during the forecast period of 2024 to 2031. The availability of lucrative discounts over fuel cards is expected to boost the market growth. The Europe fuel cards for commercial fleet market report also comprehensively covers pricing analysis, patent analysis, and technological advancements.
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million and Pricing in USD
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Segments Covered
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Card Type (Universal Fuel Cards, Branded Fuel Cards, Merchant Fuel Cards), Features (Mobile Payment & Cardless Transactions, Vehicle Reporting, Real-Time Updates, EMV Compliant, Tokenization, and Others), Subscription Type (Registered Card and Bearer Card), Utility (Fuel Fee Payment, Fleet Maintenance, Vehicle Parking Fees, Toll Fee Payment, and Others), Fleet Type (Delivery Fleets, Taxi Cab Fleets, Car Rental Fleets, Public Utility Fleets, and Others), Industry (Transportation and Logistics, Construction, Corporate, Automotive, Food and Beverages, Healthcare, Chemical, and Others)
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Countries Covered
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U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Switzerland, Turkey, Austria, Romania, Serbia, Croatia, Slovenia, Bulgaria, Bosnia, North Macedonia, and Rest of Europe
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Market Players Covered
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Shell, W. A. G. payment solutions, a.s., bp p.l.c., UTA (an Edenred company), OMV Aktiengesellschaft, TotalEnergies, Valero Marketing and Supply Company, MORGAN FUELS, UK Fuels Limited, DKV Mobility, WEX INC, and ENI among others
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Market Definition
A fuel card is convenient for paying for petrol, diesel, and other fuels at filling stations. Rather than paying with cash, credit card, or cheque, the driver hands over the fuel card instead. They provide various benefits to fleet vendors by capturing low-level data on the mileage of vehicles, gallons of fuel filled, and the need for servicing the vehicle. In addition, their service providers have started to embed telematics interfaces and robust reporting facilities as standard product offerings to improve fleet management productivity. Moreover, an increase in preference towards payment digitization and the influence of the Internet of Things (IoT) is supplementing the market growth significantly.
Europe Fuel Cards for Commercial Fleet Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Increase in Demand for Monitoring Fuel Economy
A fuel card is a mode of payment through a specialized card for business expenses on vehicles operating in the organization’s fleet. As a result, anyone who drives the company's fleet of vehicles has access to these cards. The fuel card is used to pay for fuel and other vehicle-related expenses such as maintenance, servicing, licensing, and others. These cards are just for goods and expenses related to transportation.
Fuel cards will not only help cut down the cost but also save time by reducing administration. Fuel spending will be consolidated into a single HMRC (Her Majesty's Revenue and Customs) compliant invoice, eliminating the need to sift through mounds of receipts and expense claims. In addition, employees can easily take a detour or extend their mileage to maximize the amount returned when a company implements the pay and reclaim technique.
- Growth in Inclination Towards Digital Banking
The surge in interest and reliance on digital banking solutions is reshaping the market. Integrating digital banking with fuel card systems offers numerous advantages, ranging from enhanced transparency to streamlined administrative processes. The market is positioned for sustained growth, driven by the overarching digitalization trend in the commercial sector as businesses increasingly recognize the value of digital solutions in fleet management. The marriage of digital banking and fuel card management not only meets the current needs of businesses but also aligns with the ongoing technological transformations shaping the future of fleet management in Europe. Hence, the growing inclination towards digital banking is driving the market growth.
Opportunity
- Efficient Fleet Administration Due to Enhanced Data Capture
Nowadays, the fuel card or the fleet card provides many features, which include convenient and comprehensive reporting for corporate fleets, providing real-time updates to the owners and enabling them to track all business-related activities. They also help to eliminate the manual task of submission of receipts and auditing. In some cases, it also helps to give the discounted fuel price.
Leveraging advanced data capture will be crucial for companies seeking to stay competitive and responsive to the evolving landscape of European commercial fleet management as the demand for efficiency and sustainability continues to grow. Therefore, a rise in data capture for efficient fleet management is expected to create market growth opportunities.
Restraint/Challenge
- Higher Fuel Surcharge (FSC) Fee by a Carrier
Fuel cards are also a type of credit card that individual fuel companies offer. The card owner can use the credit card to purchase gas at the appropriately branded gas stations and will then be billed for the amount of gas purchased. The cardholder can choose and pay off the entire balance or make installment payments, just like a regular credit card, but there are a few potential drawbacks to using fuel cards, as user will have to pay interest on every fuel purchase. This may involve developing innovative pricing models, improving transparency, and aligning fuel card offerings with the evolving needs of commercial fleet operators, hindering market growth.
Recent Developments
- In March 2023, OMV Aktiengesellschaft in Slovakia successfully partnered with DKV Mobility, expanding access to its full fuel service station network for a broader customer base. The collaboration with DKV Mobility, boasting around 63,000 fuel stations, marked a strategic move, providing access to Europe's largest energy-agnostic acceptance network. Both parties anticipate a fruitful partnership
- In February 2023, bp p.l.c. Its European fleet business recently issued 10 fuel cards to the Iranian Embassy and Consulate in Germany and Austria. These cards empower holders to seamlessly access goods and services at BP retail sites and partner locations throughout Europe, eliminating the need for cash transactions. In 2023, the invoiced amount for goods and services purchased using these fuel cards totaled approximately USD 9,200. This benefits the company by strengthening its relationship with the government
Europe Fuel Cards for Commercial Fleet Market Scope
Europe fuel cards for commercial fleet market is segmented into six notable segments based on the card type, features, subscription type, utility, end-use, and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Card Type
- Universal Fuel Cards
- Branded Fuel Cards
- Merchant Fuel Cards
On the basis of card type, the market is segmented into universal fuel cards, branded fuel cards, and merchant fuel cards.
Features
- Mobile Payment & Cardless Transactions
- Vehicle Reporting
- Real-Time Updates
- EMV Compliant
- Tokenization
- Others
On the basis of features, the market is segmented into mobile payment & cardless transactions, vehicle reporting, real-time updates, EMV compliant, tokenization, and others.
Subscription Type
- Registered Card
- Bearer Card
On the basis of subscription type, the market is segmented into registered card and bearer card.
Utility
- Fuel Fee Payment
- Fleet Maintenance
- Vehicle Parking Fees
- Toll Fee Payment
- Others
On the basis of utility, the market is segmented into fuel fee payment, fleet maintenance, vehicle parking fees, toll fee payment, and others.
End-User
- Delivery Fleets Taxi Cab Fleets
- Car Rental Fleets
- Public Utility Fleets
- Others
On the basis of end-user, the market is segmented into delivery fleets, taxi cab fleets, car rental fleets, public utility fleets, and others.
Industry
- Transportation and Logistics
- Construction
- Corporate
- Automotive
- Food and Beverages
- Healthcare
- Chemical
- Others
On the basis of industry, the market is segmented into transportation and logistics, construction, corporate, automotive, food and beverages, healthcare, chemical, and others.
Regional Analysis/Insights: Europe Fuel Cards for Commercial Fleet Market
The Europe fuel cards for commercial fleet market is segmented into six notable segments based on the card type, features, subscription type, utility, end-use, and industry.
The countries covered in the Europe fuel cards for commercial fleet market report are U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Switzerland, Turkey, Austria, Romania, Serbia, Croatia, Slovenia, Bulgaria, Bosnia, North Macedonia, and rest of Europe.
The U.K. is expected to dominate the market due to the increasing acceptance of branded fuel cards at fuel refilling stations across the country.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of European brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Europe Fuel Cards for Commercial Fleet Market : Competitive Landscape and Share Analysis
Europe fuel cards for commercial fleet market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the market.
Some of the major market players operating in the Europe fuel cards for commercial fleet market are Shell, W. A. G. payment solutions, a.s., bp p.l.c., UTA (an Edenred company), OMV Aktiengesellschaft, TotalEnergies, Valero Marketing and Supply Company, MORGAN FUELS, UK Fuels Limited, DKV Mobility, WEX INC, and ENI among others.
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