Europe Fuel Card Market For Commercial Fleet, By Card Type (Universal Fuel Cards, Branded Fuel Cards, Merchant Fuel Cards), Features (Vehicle Reporting, EMV Compliant, Tokenization, Real Time Updates, Mobile Payment & Cardless Transactions, Others), Subscription Type (Registered Card, Bearer Card), Utility (Vehicle Parking Fees, Oil Fee Payment, Fleet Maintenance, Toll Fee Payment, Others), End-User (Delivery Fleets, Taxi Cab Fleets, Car Rental Fleets, Public Utility Fleets, Others), Country (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Switzerland, Turkey, and Rest of Europe) Industry Trends and Forecast to 2029
Market Analysis and Insights: Europe Fuel Cards Market for Commercial Fleet
The Europe fuel cards market for commercial fleet is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.3% in the forecast period of 2022 to 2029 and is expected to reach USD 55,551.85 million by 2029. Rise in demand for smart home automation related gadgets is boosting the market.
A fuel card is a convenient way to pay 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 mileage of vehicles, gallons of fuel filled, and the need for servicing the vehicle. In addition, their service providers have started to embed telematics interface and robust reporting facilities as standard product offerings to improve fleet management productivity. Moreover, an increase in preference towards payment digitization and influence of the Internet of Things (IoT) is supplementing the fuel cards market growth significantly.
Increasing demand of monitoring vehicle purchase & fuel economy is the major driving factor in the market. Rising use of skimmers to disguise purchases to steal fuel can prove to be a challenge however availability of lucrative discounts over the fuel cards prove to be an opportunity. Higher rate of interest for the card on the fuel purchase can be a restraint for the adoption of Exterior Blinds.
The fuel cards market for commercial fleet report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Fuel cards market for commercial fleet scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe Fuel Cards Market for Commercial Fleet Scope and Market Size
Europe fuel cards market for commercial fleet is segmented into five notable segments which are card type, features, subscription type, utility and end-user.
- On the basis of card type, Europe fuel cards market for commercial fleet is segmented into universal fuel cards, branded cards & merchant cards. In 2022, universal fuel cards hold the highest segment as it offers flexibility, control, and convenience for all of the business purchasing needs, thereby having a tighter control if the business expenses.
- On the basis of features, Europe fuel cards market for commercial fleet is segmented into vehicle reporting, EMV compliant, tokenization, real-time updates, mobile payment & card-less transactions, & others. In 2022, mobile payment & card-less transactions holds the highest segment as it offers an extra layer of security for all business types.
- On the basis of subscription type, Europe fuel cards market for commercial fleet is segmented into registered card & bearer card. In 2022, registered card holds the highest segment as it helps the business owners to keep track for all the expenses and offers more flexibility in monitoring vehicles.
- On the basis of utility, Europe fuel cards market for commercial Fleet is segmented into vehicle parking fees, oil fee payment, fleet maintenance, toll fee payment, others. In 2022, oil fee payment holds the highest segment as the application of fuel cards are more in the petrol & gas stations and users get number of benefits like cashbacks, point rewards &
- On the basis of end-user, Europe fuel cards market for commercial fleet is segmented into delivery fleets, car rental fleets, public utility fleets, taxi cab fleets & others. In 2022, delivery fleets holds the highest segment as it helps to improve customer services with telematics interface for proper fleet management.
Europe Fuel Cards Market for Commercial Fleet Country Level Analysis
The fuel cards market for commercial fleet is analyzed and market size information is provided by the country, card type, features, subscription type, utility and end-user as referenced above.
The countries covered in the Europe fuel cards market for commercial fleet report are Germany. France, Italy, U.K., Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, and rest of Europe.
U.K. dominates the market due to advancement in research and developments related quality and design of exterior blinds. Germany stands at second position due to rising demand for energy efficient houses in the country. France stands at third position due to rising awareness about protection from harmful UV rays in residential and commercial spaces.
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 such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Inclination Towards the Digital Banking is Boosting the Market Growth of Europe Fuel Cards Market for Commercial Fleet.
The Europe fuel cards market for commercial fleet also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2012 to 2020.
Competitive Landscape and Europe Fuel Cards Market for Commercial Fleet Share Analysis
Fuel cards market for commercial fleet competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Fuel cards market for commercial fleet.
Some of the major players operating in the Europe fuel cards market for commercial fleet are Exxon Mobil Corporation, Shell, UK Fuels Limited, W.A.G. payment solutions, a.s, bp p.l.c, DKV EURO SERVICE Gmbh + Co. KG, Wex Europe Services, UTA (an Edenred company), OMV Aktiengesellschaft, and TotalEnergies among others.
Many developments, contracts, agreements and expansions are also initiated by the companies’ worldwide which are also accelerating the fuel cards market for commercial fleet.
For instance,
- In July 2021, UK Fuels Limited has extended its business by increasing its network to over 3,500 fuel stations. This expansion has helped the company to increase its customer base by acquiring the 97% of Europe market which results in growth in the company’s revenue and profit.
- In September 2021, W.A.G. payment solutions, a.s. had expanded its business in Germany. This expansion will help the customers of the company to use their Eurowag cards at TANKPOOL24 fueling stations across Germany. This will help the company to include new commercial customers to their customer portfolio and also helps to diversify the company’s product portfolio
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company footprints in the Fuel cards market for commercial fleet which also provides the benefit for organization’s profit growth.
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