Fuel Card Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 - 2028

Published on : Apr-2019 | List of Tables : 48 | List of Figures : 80 | No. of Pages : 170 | Report Code : FACT265MR | Format : ppt pdf Excel Word

In Brief

  • The fuel card market witnessed impressive growth at a CAGR of 5.8% during 2013-2017. The transaction value of fuel card was worth US$ 1 trillion in 2017, with growing adoption in business and truck fleet creating sustained opportunities.
  • Driven by growing need for implementing an efficient fuel management system, the transaction value of fuel card systems is likely to reach nearly US$ 1.1 trillion by 2019.
  • The fuel card market is projected to witness healthy growth at a CAGR of 6.8% between 2018 and 2028.
  • On the back of increasing awareness about environmental impact of harmful emissions and imposition of strict environmental rules, Europe is likely to remain the leading market for fuel cards during the forecast period.
  • Increasing vehicle fleet and ongoing industrial developments in China and South Korea are likely to create lucrative opportunities in East Asia.

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fuel card market snapshot

What are the Key Growth Drivers of Fuel Card Market?

  • Corporate payment landscape in developed regions of North America and Europe, have been undergoing fast-paced digitization, which is expected to augur well for the fuel card industry.
  • Increasing need for efficient fleet management in large organizations, as a part of companies’ fuel management processes, have triggered sales of fuel cards around the world.
  • The global transportation and logistics industry has gained pace with growing urbanization and industrialization. Thereby, leading industry players are adopting fuel cards to implement more efficient fuel management systems.
fuel card market analysis and forecast by fleet type
  • Rapidly-growing trucking industry across the world, especially in North America, will remain instrumental in shaping the fuel card market during the forecast period.
  • With an incessant rise in harmful emissions due to the transportation sector, emission control rules are becoming more stringent. This is triggering sustainability measures in both public and private sector.
  • The persistent search for an efficient system to control fuel expenses and incorporate transparent fuel management systems among corporate organizations continues to gain traction.
  • Leading players in the fuel card market are focusing on facilitating secure payments, while maintaining ease of transactions.

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What are the Key Challenges in the Fuel Card Market?

  • The increasing trend of electrification of the automotive industry is likely to become prominent in the upcoming years, limiting the sales of conventionally-fueled vehicles. Adapting to the new status-quo will a significant upgrade in terms of new technologies and workforce.
  • Security and cyber threats breaches continue to gain massive mainstream coverage, which is a key influencing factor for buyer behavior.

Fuel Card Market – Competitive Landscape

  • In April 2019, Radius Payment Solutions – a U.K.-based payment and fleet services company – announced it has acquired Plant-i – a leading provider of telematics and detailed risk management solutions for the construction sector. With this acquisition, Radius Payment Solutions will add Plant-i’s 25,000 assets to its portfolio to become one of the largest telematics company with over 120,000 devices.
  • In March 2019, FleetCor Technologies, Inc. – a leading provider of fuel cards and workforce payment services – announced that it has entered a definitive agreement with Nvoicepay, Inc. – a developer of accounts payable (AP) software for domestic and international b2b payments. With this acquisition, the company aims to expand its Corporate Payments portfolio by incorporating Nvoicepay’s automated AP solutions, which could help FleetCor to manage full disbursement of accounts payables, including both domestic and international payables, for businesses.
  • In March 2019, WEX Inc. – a U.S.-based provider of payment solutions – announced that it will acquire the fuel card business of EG Group – a European fuel station and convenience retailer. The company aims to broaden its fuel card acceptance in attractive European markets through the independent fuel card network developed by EG Group’s fuel card business. With this acquisition, the company also aims to reduce its sensitivity to retail fuel prices while strengthening its position in Europe.
  • In November 2018, Edenred – a leading French stakeholder in the fuel card market – announced that it has entered an agreement to acquire Corporate Spending Innovations (CSI) – a U.S.-based developer and provider of automated corporate payment software. The company announced that this acquisition is in line with the company’s Fast Forward strategy to strengthen its position in the buoyant corporate payment industry.
fuel card market competition landscape

Leading players in the fuel card market profiled in the Fact.MR report include Fuel Genie (Worldline IT Services Ltd.), H24 (Ingenico Group), Valero Energy Corporation, Eurowag (W.A.G. payment solutions, a.s.), Hoyer GmbH, 360Fuelcard, Exxon Mobil Corporation, BP Plc., Royal Dutch Shell Plc., Total S.A., Marathon Petroleum Corporation, Repsol, S.A., Petro-Canada Superpass (Suncor Energy Inc.), Voyager Fleet Card, Radius Payment Solutions, and DKV Euro Service (DKV Mobility Services Group).

Note: To gain more information on the competitive landscape in the cheese shreds market, get the summary of this report.

Fuel Card Market – Additional Insight

Demand for Fuel Credit Cards to Surge Rapidly; Commercial Fleet Remains Target for Providers

Leading players in the fuel card market are working towards establishing a strong network of payment software developers, fuel companies, as well as financial institutions to meet the increasing demand for fuel credit cards. Though universal fuel cards are among the most popular types of fuel cards, fuel credit cards are rapidly becoming conventional among end-users, especially across commercial fleet.

To capitalize on the rapidly increasing demand for fuel credit cards, a mounting number of world’s leading financial service companies are entering the fuel card market. As commercial fleet has expanded rapidly with growing urbanization and industrialization, commercial fleet remains the primary target for market players.

Scope of the Report

fuel card market taxonomy

Research Methodology

A recent study published by Fact.MR analyzes growth of the global fuel card market to provide readers with exclusive and actionable market insights. This study is backed by a two-step research process which is inclusive of various primary and secondary resources.

The primary research methodology includes discussions with experts of fuel card industry and information gathered after interviewing other stakeholders. In the secondary process, detailed information about the fuel card market is garnered through various resources such as company annual reports, trade journals, paid resources, press releases, and other publications relevant to fuel card.

After studying industry-validated information about the fuel card market, qualitative conclusions about the prospects of the market can be reached. Findings from these two main processes were used to determine an accurate and exhaustive forecast of global fuel card market for the period from 2018 to 2028.

The “Fuel Card Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018-2028” is a comprehensive report published by Fact.MR that assesses the prominent growth parameters of fuel card market. The report features the information acquired on assessing information and facts about fuel card market through an extensive market research.

This is Fact.MR’s latest report on fuel card market that unveils the unique facts about the market explained in terms of quantitative and qualitative information. The market report contains the detailed explanation on growth of the fuel card market and its market dynamics to justify the claims made by analysts in the Fact.MR study.

With the help of growth indicators, such as compound annual growth rate (CAGR), supply chain analysis, Y-o-Y growth, and value chain analysis, the report provides information on future growth prospects of the fuel card market.

Chapter 1 – Executive Summary

This chapter provides a summary of key growth prospects as a results of thorough research on the fuel card market. It also provides quick insights on the global outlook of fuel card demand and supply across the world.

Chapter 2 – Fuel Card Market Wrap Up

This chapter provides readers with key pointers about growth of the fuel card market along with key macro and microeconomic factors that are influencing developments in the market

Chapter 3 – Fuel card Market Overview

Definition of fuel card market is included in this chapter along with a detailed introduction to fuel card market with the help of the market structure. This chapter offers an information on prospects the fuel card market will grow during 2018-2028 in terms of value (US$ billion) and volume.

Chapter 4 – Global Fuel Card Market Background

With the help of the outlook of the total vehicle parc (‘000 units) across various regions, fleet management service offerings, and number of subscriber and access points, this chapter explains its effect on the market for fuel card. It also provides unique information about the influence of fuel card selection scenario and fuel card process on the growth of the fuel card market during 2018-2028.

The chapter also shed lights on current industry trends in the fuel card industry and analysis on fuel card v/s corporate card for fleet fuel expense, to help readers in understanding various other factors that can influence growth of the fuel card market. This chapter includes market dynamics, Porter’s five forces analysis supply chain analysis, regional price point analysis, and value chain analysis.

Chapter 5 – Global Fuel Card Market Key Trends

This chapter provides thorough information about key trends in the fuel card market and how these trends will influence prospects of the market in coming future.

Chapter 6 – Global Fuel Card Market Demand (in Value or Size in US$ Bn) Analysis 2013-2017 and Forecast, 2018-2028

In this chapter, readers can find an overview of growth prospects of the fuel card market depending on regions, types of fleet, card types, subscriptions, fleet types, and use cases.

Growth prospects of the fuel card market are mentioned in terms of market value (US$ billion) and volume by 2028. This chapter explains growth of the market across regions including Europe, North America, Latin America, East Asia, South Asia, Oceania, and the Middle East & Africa (MEA).

The chapter also features market growth prospects based on various segments such as

  • Types of fleet – truck fleet operators, business fleet, construction fleet operators, and other customer groups
  • Card types – universal fuel card, fuel credit cards, OnG corporation cards, network cards, and over the road fuel cards
  • Subscription types – bearer cards and registered cards
  • Fleet types – commercial fleet and over the road
  • Use cases – oil fees payment, parking payment, toll fee payment, fleet maintenance among other payments

Chapter 7 – North America Fuel Card Market Analysis, 2013–2028

In this chapter, readers can find detailed information on how fuel card market will grow in North American region during 2018-2028. Readers can also find growth prospects of the North America fuel card market in terms of market value (US$ billion) and volume by 2028. The market value assessment by country, such as the United States and Canada.

Chapter 8 – Latin America Fuel Card Market Analysis, 2013–2028

Readers can also find growth prospects of the fuel card market in Latin American region during 2018-2028. Readers can also find growth prospects of the fuel card market in Latin America in terms of market value (US$ billion) and volume by 2028. The market value assessment by country, including Brazil and Mexico, is featured in the chapter.

Chapter 9 – Europe Fuel Card Market Analysis, 2013–2028

Readers can also find growth prospects of the fuel card market in Europe, based on the estimates on market value (US$ billion) and volume by 2028. Readers can find critical growth prospects of the fuel card market in the leading countries in Europe such as Germany, France, UK, Spain, Italy, Russia, and rest of Europe.

Chapter 10 – East Asia Fuel Card Market Analysis, 2013-2028

Readers can also find growth prospects of the fuel card market in East Asia, based on the estimates on market value (US$ billion) and volume by 2028. Readers can find critical growth prospects of the fuel card market in the leading East Asian countries, including China, Japan, and South Korea.

Chapter 11 – South Asia Fuel Card Market Analysis, 2013-2028

Readers can also find growth prospects of the fuel card market in South Asia, based on the estimates on market value (US$ billion) and volume by 2028. Readers can find critical growth prospects of the fuel card market in the leading South Asian countries, including India, Thailand, Malaysia, and Indonesia.

Chapter 12 – Oceania Fuel Card Market Analysis, 2013-2028

Readers can also find growth prospects of the fuel card market in Oceania in terms of market value (US$ billion) and volume by 2028. Readers can find critical growth prospects of the fuel card market in the leading countries, including Australia and New Zealand.

Chapter 13 – MEA Fuel Card Market Analysis, 2013-2028

This chapter focusses on growth prospects of the fuel card market in the Middle East and Africa region, based on the estimates on market value (US$ billion) and volume by 2028. This chapter provides readers with detailed information on growth of the fuel card market in major countries in MEA region, such as GCC Countries and South Africa, during the forecast period.

Chapter 14 – Fuel Card Market Competition Landscape, 2018

In this chapter, readers can find comprehensive information about the competitive landscape with a dashboard view. This can help them to comprehend insights about the competitive environment in the fuel card market with detailed information about leading and emerging stakeholders in the market. This chapter also provides information about Fuel card market structure, competitive developments, financial share analysis, and key financials of each leading player in the fuel card market.

Chapter 15 – Fuel Card Market Company Profiles

Leading players in the Fuel card market that are featured in the Fact.MR report include FleetCor Technologies, Inc., WEX Inc., Voyager Fleet Card, Fuel Genie (Worldline IT Services Ltd.), H24 (Ingenico Group), Valero Energy Corporation, Eurowag (W.A.G. payment solutions, a.s.), Hoyer GmbH, 360Fuelcard, Exxon Mobil Corporation, BP Plc., Royal Dutch Shell Plc., Total S.A., Marathon Petroleum Corporation, Repsol, S.A., Petro-Canada Superpass (Suncor Energy Inc.), Radius Payment Solutions, DKV Euro Service (DKV Mobility Services Group), and Edenred.

1. Executive Summary
      1.1. Fuel Card Market: Executive Summary
      1.2. Key Findings

2. Fuel Card Market Wrap Up

3. Global Fuel Card Market Overview
      3.1. Global Fuel Card Market: Introduction
      3.2. Global Fuel Card Market: Taxonomy

4. Global Fuel Card Market Backgroud
      4.1. Global Economic Outlook
      4.2. Number of Fuel Card Subscribers, by Region
      4.3. Region Wise Total Vehicle Parc (‘000 Units)
      4.4. Global Fuel Card Penetration by Type of Vehicle
      4.5. Number of Subscriber and Access Points by Type of Providers
      4.6. Number of Subscriber by Key Companies
      4.7. Major features provided by different fuel card providers
      4.8. Number of Fuel Card Acceptance Points in US by Key Providers
      4.9. Fuel Card Selection Scenario
      4.10. Current Industry Trends in Fuel Card
      4.11. Annual Spend on Fuel Card (2014-2018)
      4.12. Fuel Card Process
      4.13. Fuel Card v/s Corporate Card for Fleet Fuel Expense
      4.14. Average Total Cost of Ownership for Company Car
      4.15. Business Benefits through Fuel Cards
      4.16. Typical Fleet Management Service Offerings
      4.17. Overview of Fleet Management Specifics in some countries
      4.18. Services offered by Fleet Management Companies
      4.19. Fleet Management Profit Allocation along Value Chain
      4.20. Market Dynamics 
      4.21. Forecast Factors- Relevance and Impact on Fuel Cart Market
      4.22. Cost Component of Fuel Cards
      4.23. Macro-Economic Factors: Global Urbanization Growth

5. Global Fuel Card Market Key Trends

6. Global Fuel Card Market Demand (in Value or Size in US$ Mn) Analysis 2013-2017 and Forecast, 2018-2028
      6.1. Global Fuel Card Market Outlook
      6.2. Global Fuel Card Market Analysis by Region
             6.2.1 North America
             6.2.2 Latin America
             6.2.3 Europe
             6.2.4 East Asia
             6.2.5 South Asia
             6.2.6 Oceania
             6.2.7 Middle East & Africa
      6.3. Global Fuel Card Market Analysis by Type of Fleet
             6.3.1. Truck Fleet Operators
             6.3.2. Business Fleet
             6.3.3. Construction Fleet Operators
             6.3.4. Other Customer Group
      6.4. Global Fuel Card Market Analysis by Card Type
             6.4.1. Universal Fuel Card
             6.4.2. Fuel Credit Cards
             6.4.3. OnG Corporation Cards
             6.4.4. Network Cards
             6.4.5. Over the Road Fuel Cards
      6.5. Global Fuel Card Market Analysis by Subscription Type
             6.5.1. Bearer Card
             6.5.2. Registered Card
      6.6. Global Fuel Card Market Analysis by Fleet Type
             6.6.1. Commercial Fleet
             6.6.2. Over the Road
      6.7. Global Fuel Card Market Analysis by Use Case
             6.7.1. Oil Fees Payment
             6.7.2. Parking Payment
             6.7.3. Toll Fee Payment
             6.7.4. Fleet Maintenance
             6.7.5. Other Payments

7. North America Fuel Card Market Analysis, 2013-2028
      7.1. North America Market Outlook 
      7.2. North America Fuel Card Market Analysis by Country
             7.2.1 US
             7.2.2 Canada
      7.3. North America Fuel Card Market Analysis by Type of Fleet
      7.4. North America Fuel Card Market Analysis by Card Type
      7.5. North America Fuel Card Market Analysis by Subscription Type
      7.6. North America Fuel Card Market Analysis by Fleet Type
      7.7. North America Fuel Card Market Analysis by Use Case

8. Latin America Fuel Card Market Analysis, 2013-2028
      8.1. Latin America Market Outlook 
      8.2. Latin America Fuel Card Market Analysis by Country
             8.2.1 Brazil
             8.2.2 Mexico
             8.2.3 Rest of Latin America
      8.3. Latin America Fuel Card Market Analysis by Type of Fleet
      8.4. Latin America Fuel Card Market Analysis by Card Type
      8.5. Latin America Fuel Card Market Analysis by Subscription Type
      8.6. Latin America Fuel Card Market Analysis by Fleet Type
      8.7. Latin America Fuel Card Market Analysis by Use Case

9. Europe Fuel Card Market Analysis, 2013-2029
      9.1. Europe Market Outlook 
      9.2. Europe Fuel Card Market Analysis by Country
             9.2.1 Germany
             9.2.2 France
             9.2.3 UK
             9.2.4 Spain
             9.2.5 Italy
             9.2.6 Russia
             9.2.7 Rest of Europe
      9.3. Europe Fuel Card Market Analysis by Type of Fleet
      9.4. Europe Fuel Card Market Analysis by Card Type
      9.5. Europe Fuel Card Market Analysis by Subscription Type
      9.6. Europe Fuel Card Market Analysis by Fleet Type
      9.7. Europe Fuel Card Market Analysis by Use Case

10. East Asia Fuel Card Market Analysis, 2013-20210
      10.1. East Asia Market Outlook 
      10.2. East Asia Fuel Card Market Analysis by Country
             10.2.1 China
             10.2.2 Japan
             10.2.3 South Korea
      10.3. East Asia Fuel Card Market Analysis by Type of Fleet
      10.4. East Asia Fuel Card Market Analysis by Card Type
      10.5. East Asia Fuel Card Market Analysis by Subscription Type
      10.6. East Asia Fuel Card Market Analysis by Fleet Type
      10.7. East Asia Fuel Card Market Analysis by Use Case

11. South Asia Fuel Card Market Analysis, 2013-20211
      11.1. South Asia Market Outlook 
      11.2. South Asia Fuel Card Market Analysis by Country
             11.2.1 India
             11.2.2 Thailand
             11.2.3 Indonesia
             11.2.4 Malaysia
             11.2.5 Rest of South Asia
      11.3. South Asia Fuel Card Market Analysis by Type of Fleet
      11.4. South Asia Fuel Card Market Analysis by Card Type
      11.5. South Asia Fuel Card Market Analysis by Subscription Type
      11.6. South Asia Fuel Card Market Analysis by Fleet Type
      11.7. South Asia Fuel Card Market Analysis by Use Case

12. Oceania Fuel Card Market Analysis, 2013-20212
      12.1. Oceania Market Outlook 
      12.2. Oceania Fuel Card Market Analysis by Country
             12.2.1 Australia
             12.2.2 New Zealand
      12.3. Oceania Fuel Card Market Analysis by Type of Fleet
      12.4. Oceania Fuel Card Market Analysis by Card Type
      12.5. Oceania Fuel Card Market Analysis by Subscription Type
      12.6. Oceania Fuel Card Market Analysis by Fleet Type
      12.7. Oceania Fuel Card Market Analysis by Use Case

13. MEA Fuel Card Market Analysis, 2013-20213
      13.1. MEA Market Outlook 
      13.2. MEA Fuel Card Market Analysis by Country
             13.2.1 GCC Country
             13.2.2 South Africa
             13.2.3 Rest of MEA
      13.3. MEA Fuel Card Market Analysis by Type of Fleet
      13.4. MEA Fuel Card Market Analysis by Card Type
      13.5. MEA Fuel Card Market Analysis by Subscription Type
      13.6. MEA Fuel Card Market Analysis by Fleet Type
      13.7. MEA Fuel Card Market Analysis by Use Case

14. Fuel Card Market Competition Landscape, 2018
      14.1. Fuel Card Market Competition Landscape
      14.2. Fuel Card Market - Dashboard

15. Fuel Card Market Company Profiles
      15.1. FleetCor Technologies, Inc. 
      15.2. WEX Inc. 
      15.3. Voyager Fleet Card 
      15.4. Fuel Genie (Worldline IT Services Ltd.) 
      15.5. H24 (Ingenico Group)       
      15.6. Valero Energy Corporation 
      15.7. Eurowag (W.A.G. payment solutions, a.s.)(
      15.8. Hoyer GmbH 
      15.9. 360Fuelcard
      15.10. Exxon Mobil Corporation 
      15.11. BP Plc. 
      15.12. Royal Dutch Shell Plc. 
      15.13. Total S.A. 
      15.14. Marathon Petroleum Corporation 
      15.15. Repsol, S.A. 
      15.16. Petro-Canada Superpass (Suncor Energy Inc.) 
      15.17. Radius Payment Solutions 
      15.18. DKV Euro Service (DKV Mobility Services Group) 
      15.19. Edenred

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Fuel Card Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 - 2028