New Study on Global Fuel Card Market Covers Drivers and Growth Trends Till 2022

Rockville, US, 2018-Nov-20 — /EPR Network/ — A fuel card is also known as a fleet card it is used for making payment for fuel, maintenance, and repair of the vehicle. A fuel card is specifically used for managing the expenses related to vehicles. Fuel card providers are also providing additional benefits to the fleet owners including data on vehicle mileage, liter of fuel filled, etc. However, with the integration of advanced technology fuel card issuers have started providing real-time updates with enhanced data.

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Driven by technological shifts and changing customer preferences, fuel card providers are constantly working on enhancing features by integrating innovative technologies. With the rise in payment digitization, fuel card providers are focusing more on payment security. Increasing number of partnerships between fuel merchants and fuel companies can also be observed in the fuel card industry. This is resulting in the advanced features in fuel cards. However, fuel card industry is also facing various challenges with regards to the legal framework, growing market for electric cars, etc., hence, fuel card providers are focusing on flexible, scalable and customer-driven business model.

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.

5 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.
4. Compared to the bearer card, registered card as the type of fuel card is estimated to account for nearly two-third of the revenue share by the end of 2017. Towards the end of 2022, registered card is projected to bring in nearly US$ 7,800 million revenues.
5. A fuel card is expected to be largely used for Oil fees. Accounting for nearly one-third of the revenue share by 2017 end, oil fees is estimated to create an incremental opportunity of over US$ 600 million between 2017 and 2022. Meanwhile, fleet maintenance will also witness significant growth in the global fuel card market.

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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.

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
   2.4. Supply Chain
   2.5. Cost Structure
   2.6. Pricing Analysis
   2.7. Raw Material Sourcing Strategy and Analysis
   2.8. List of Distributors
   2.9. Key Participants Market Presence (Intensity Map) By Region
3. Global Fuel Card Market Analysis and Forecast By Fleet Type
   3.1. Global Fuel Card Market Size and Forecast By Fleet Type, 2012-2022
   3.1.1. Commercial Fleets Fuel Card Market Size and Forecast, 2012-2022
   3.1.1.1. Revenue (US$ Mn) Comparison, By Region
   3.1.1.2. Market Share Comparison, By Region
   3.1.1.3. Y-o-Y growth Comparison, By Region
   3.1.2. Aviation Fuel Card Market Size and Forecast, 2012-2022
   3.1.2.1. Revenue (US$ Mn) Comparison, By Region
   3.1.2.2. Market Share Comparison, By Region
   3.1.2.3. Y-o-Y growth Comparison, By Region
   3.1.3. Marine Fuel Card Market Size and Forecast, 2012-2022
   3.1.3.1. Revenue (US$ Mn) Comparison, By Region
   3.1.3.2. Market Share Comparison, By Region
   3.1.3.3. Y-o-Y growth Comparison, By Region
   3.1.4. Over The Road Fuel Card Market Size and Forecast, 2012-2022
   3.1.4.1. Revenue (US$ Mn) Comparison, By Region
   3.1.4.2. Market Share Comparison, By Region
   3.1.4.3. Y-o-Y growth Comparison, By Region
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
   4.1.1. Bearer Card Fuel Card Market Size and Forecast, 2012-2022
   4.1.1.1. Revenue (US$ Mn) Comparison, By Region
   4.1.1.2. Market Share Comparison, By Region
   4.1.1.3. Y-o-Y growth Comparison, By Region
   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
   4.1.2.3. Y-o-Y growth 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

Continued……………..

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