Global Fuel Card Market Estimated for Steady Growth at a CAGR of 4.8% during the Forecast Period 2017-2022

Posted on 2018-05-17 by Mark Hub in Retail // 0 Comments

Fact.MR

Dublin 2, Ireland, 2018-May-17 — /EPR Network/ — Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of fuel card market. The study is titled as “Fuel Card Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2022. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global fuel card market.

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According to the latest report by Fact.MR, the global market for fuel card is expected to witness average growth. The market is estimated to reach US$ 11,734.2 million revenue by the end of 2022. Saving on fuel cost is one of the factors fleet owners are adopting fuel cards. Moreover, fuel card providers are also adopting innovative technologies to offer a better experience and track vehicle data on a real-time basis.

3 Forecast Highlights on Global Fuel Card Market

1. APEJ region is expected to remain dominant in the global fuel card market. Witnessing a steady growth, the region is estimated to reach close to US$ 3,500 million by the end of 2022.

2. North America is expected to emerge as the second largest market for fuel card. Quick adoption of innovative technologies with improving profitability and significant discounts offered under fuel card programs are some of the factors fueling the growth of fuel card in the region.

3. Adoption of fuel card is expected to be the highest among Over the Road fleets. By the end of 2017, Over the Road fleets are projected to account for nearly one-third of the revenue share of global market value. Over the Road fleets are estimated to reach nearly US$ 3,600 million revenue by the end of 2022.

Fuel Card to be largely used for Oil Fees

A fuel card is expected to witness maximum usage in oil fees. Oil fees on basis of application of fuel card is projected to bring in nearly US$ 3,700 million revenues by the end of 2022. Volatility in the fuel cost is one of the factors driving the use of fuel card to make payment for fuel. Moreover, fuel card providers are also offering discounts on purchase of fuel by using a fuel card, loyalty programs are also among the key drivers in the fuel card industry.

Over the Road Fleets to Gain Maximum Revenue Share

Over the road fleets are expected to be the major adopters of a fleet card. Witnessing moderate growth, over the road fleets are estimated to surpass US$ 3,500 million revenues towards the end of 2022. Helping to control fleet expenses, tracking spending by drivers, thereby preventing unauthorized purchase are some of the factors leading to the increasing adoption of fuel card by over the road fleets.

Registered Card to be Highly Preferred Fuel Card

The registered card is projected to account for around two-third of the revenue share by the end of 2017. The registered card is estimated to reach nearly US$ 7,800 million by 2022 end. Meanwhile, Bearer card is projected to create an incremental opportunity of over US$ 800 million during the forecast period, 2017-2022.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global fuel card market through 2022, which include B.P p.l.c, Exxon Mobil Corporation, Royal Dutch Shell, Fleetcor Technologies Inc, and WEX Inc.

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Table of Content:

1. Global Fuel Card Market – Executive Summary

2. Global Fuel Card Market Overview
2.1. Introduction
2.1.1. Global Fuel Card Market Taxonomy
2.1.2. Global Fuel Card Market Definition
2.2. Global Fuel Card Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Fuel Card Market Y-o-Y Growth
2.3. Global Fuel Card Market Dynamics
3. Global Fuel Card Market Analysis and Forecast By Fleet Type

4. Global Fuel Card Market Analysis and Forecast By Card Type
4.1. Global Fuel Card Market Size and Forecast By Card Type, 2012-2022
4.1.2. Registered Card Fuel Card Market Size and Forecast, 2012-2022
4.1.2.1. Revenue (US$ Mn) Comparison, By Region
4.1.2.2. Market Share Comparison, By Region
5. Global Fuel Card Market Analysis and Forecast By Application
5.1. Global Fuel Card Market Size and Forecast By Application, 2012-2022
5.1.2. Parking Fuel Card Market Size and Forecast, 2012-2022
5.1.3. Tolls Fuel Card Market Size and Forecast, 2012-2022

6. Global Fuel Card Market Analysis and Forecast By Region
6.1. Global Fuel Card Market Size and Forecast, 2012-2022
6.1.1. North America Fuel Card Market Size and Forecast, 2012-2022
6.1.1.1. Revenue (US$ Mn) Comparison, By Fleet Type
6.1.1.2. Revenue (US$ Mn) Comparison, By Card Type
6.1.1.3. Revenue (US$ Mn) Comparison, By Application

Continued…..

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized automotive market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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