Global Fuel Cards Market for Commercial Fleet, By Fleet Type (Truck Fleet Operators, Business Fleet, Construction Fleet Operators, Other Customer Group), Card Type (Universal Fuel Card, Fuel Credit Cards, ONG Corporation Cards, Network Cards, Over the Road Fuel Cards), Vehicle Type (Heavy Fleets, Light Fleets), Subscription Type (Bearer Card, Registered Card), Use Case (Oil Fees Payment, Parking Fees, Toll Fee Payment, Fleet Maintenance, Other Payments), Technology (Smart Cards, Standard Cards), Application (Fuel Refill, Parking, Vehicle Service, Toll Charge, Others), End User (Individual, Corporate), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa), Industry Trends and Forecast to 2029
Market Analysis and Insights of Fuel Cards Market for Commercial Fleet
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 the market to reach at an estimated value of USD 1,050.186 million by 2029 and grow at a CAGR of 5.5% in the above-mentioned forecast period.
Fuel Cards basically provide the benefits to fleet vendors by capturing low-level data on mileage of vehicles, gallons of fuel filled, and the need for servicing the vehicle. Its service providers have started to embed telematics interface and robust reporting facilities as standard product offerings to improve fleet management productivity.
The factors such as the need for improved fuel management and penetration of digital transaction solutions among the transport industry has resulted in growth in the market value in the forecast period of 2022 to 2029. Additionally, the multinational companies and large business organizations are riding the wave of digitization in monetary transactions and the efficient fleet administration with the help of enhanced data capture is estimated to accelerate market’s growth. The discounted fuel prices with the use and availability of fuel cards also cushions the market’s growth within the forecasted period. However, the lack of security measures will further restrict the scope of growth for the market. The data leaks followed by misuse of data for crimes like bullying and blackmailing is estimated to hamper the market’s growth within the forecasted period.
Furthermore, the integration of telematics with fuel cards and increase in demand for fuel cards from developing nations will further offer a variety of growth opportunities for the market in the forecast period of 2022 to 2029. On the other hand, the factors such as unavailability of raw material to produce final goods as per the market demand which is creating issues are anticipated to pose as a major challenge to the market growth rate.
This fuel cards market for commercial fleet report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on fuel cards market for commercial fleet contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Fuel Cards Market for Commercial Fleet Scope and Market Size
The fuel cards market for commercial fleet is segmented on the basis of fleet type, card type, vehicle type, subscription type, use case, technology, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of fleet type, the fuel cards market for commercial fleet is segmented into truck fleet operators, business fleet, construction fleet operators and other customer group.
- On the basis of card type, the fuel cards market for commercial fleet is bifurcated into universal fuel card, fuel credit cards, ONG corporation cards, network cards and over the road fuel cards.
- On the basis of vehicle type, the fuel cards market for commercial fleet is segmented into heavy fleets and light fleets.
- On the basis of subscription type, the fuel cards market for commercial fleet is segmented into bearer card and registered card.
- On the basis of use case, the fuel cards market for commercial fleet is segmented into oil fees payment, parking fees, toll fee payment, fleet maintenance and other payments.
- On the basis of technology, the fuel cards market for commercial fleet is segmented into smart cards and standard cards.
- On the basis of application, the fuel cards market for commercial fleet is segmented into fuel refill, parking, vehicle service, toll charge and others.
- On the basis of end user, the fuel cards market for commercial fleet is segmented into individual and corporate.
Fuel Cards Market for Commercial Fleet Country Level Analysis
The global fuel cards market for commercial fleet is analyzed and market size insights and trends are provided by fleet type, card type, vehicle type, subscription type, use case, technology, application and end user as referenced above.
The countries covered in the fuel cards market for commercial fleet report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe dominates the fuel cards market for commercial fleet and will continue to flourish its trend of dominance during the forecast period due to presence of major players and rapid adoption of latest payment technology in the market in the region within the forecast period of 2022 to 2029. Asia-Pacific region is set to witness unprecedented growth during the forecast period and will project the highest compound annual growth (CAGR) rate. This is because of the booming IT infrastructure and hefty investments from the private and public players in this region.
The country section of the fuel cards market for commercial fleet 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 consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global 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.
Competitive Landscape and Fuel Cards Market for Commercial Fleet Share Analysis
The 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to fuel cards market for commercial fleet.
Some of the major players operating in the fuel cards market for commercial fleet report 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, FirstRand Bank, Wex Europe Services, BP P.L.C., UTA (an Edenred company), WEX Inc., FLEETCOR TECHNOLOGIES, INC., libyaholdings, OMV Aktiengesellschaft, ENGEN PETROLEUM LTD and TotalEnergies among others.
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