Fuel Card Market Trends, and Forecast 2019 - 2027

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Fuel Card Market to Register Unwavering Growth During to 2027 By Zaraki Kenpachi - August 20, 2021

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According to a new market report published by Transparency Market Research on the global fuel card market for the forecast period of 2019–2027, the fuel card market is expected to reach a value of ~US$ 55 Bn by 2027. Global Fuel Card Market: Overview The global fuel card market was valued at ~US$ 33 Bn in 2018, and is expected to expand at a CAGR of ~6% from 2019 to 2027. The market is expanding significantly in terms of size and value. The standard card technology segment is dominating the global fuel card market. The fuel card market in Asia Pacific is growing rapidly. Growing disposable income is driving people to opt for technologicallyadvanced cards to save on fuel expenses. Moreover, increasing of government initiatives in developing countries for the development of the corporate sector are driving the growth of the corporate fuel card market. Europe is the largest regional market in the global fuel card market, accounting for ~38% share of the global fuel card market in 2018. North America has the second largest number of fuel card users, as a result of attractive offers by key companies and supportive government initiatives toward cashless transactions. Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php? flag=S&rep_id=32990 Fuel Card Market: Driving Factors

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Rising demand for cashless fuel transactions in developing economies (as it is critical for fleets to monitor fuel purchases to control and manage fuel spending) is driving the fuel card market. Fuel cards offer good quality data on fuel purchases, which helps monitor individual vehicle and driver fuel economy, and apply operational strategies to enhance performance. Canada, Sweden, the U.K., France, and the U.S. are the top five cashless economies in the world. Cashless payments help reduce fuel theft via chip and pin cards, which is driving the demand for fuel cards, globally. The fleet management market is influenced by technology. The adoption of fleet management software in data management and analytics has been growing, which is expected to significantly boost the fuel card market. Rapid urbanization and industrialization in developing countries such as China, India, Mexico, South Africa, and Brazil is providing lucrative opportunities for the global fuel card market. Over the years, growth in the prepaid and contactless card industry has shaped the economies of several countries. Fuel Card Market: Key Challenge Volatility in fuel prices is likely to be one of the major restraints of the fuel card market. As fuel prices are difficult to be projected, it is difficult to plan and budget for the same. Fuel prices are different across the globe; this is expected to have a huge negative impact on the growth of the fuel card market. Fuel Card Market: Competitive Landscape The fuel card market includes several players focused on the development of new products to cater to the market demand. The report includes the belowmentioned pointers of major players operating in the fuel card market: Company Overview Product Profiling Market Share Analysis (2018) Product Innovation Business Strategies/Recent Developments Technological Advancements

Key Mergers & Acquisitions Expansion Strategies Company Financial Major Players Covered Under the Scope Shell Group, BP plc., Total fuel Card, WEX Inc., Caltex, Puma Energy, Engen Petroleum Ltd, Absa Bank Limited, Standard Bank, First National Bank (FNB) Global Fuel Card Market: Market Segmentation The fuel card market has been bifurcated into type, technology, end user, and region. Fuel Card Market by Type Branded Universal Merchant Fuel Card Market by Technology Smart Cards Standard Cards Fuel Card Market by End User Individual Corporate Purchase our Premium Research Report at: https://www.transparencymarketresearch.com/checkout.php? rep_id=32990&ltype=S About Us Transparency Market Research (TMR) is a market intelligence company providing global

business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forwardlooking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Each TMR syndicated research report covers a different sector, such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, medical devices, consumer goods, and technology. These reports provide indepth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports thrive to provide clients to serve their overall research requirement. Contact 90 State Street, Suite 700 Albany, NY 12207 Tel: +15186181030 USA – Canada Toll Free: 8665523453 Email: sales@transparencymarketresearch.com Website: https://www.transparencymarketresearch.com

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Zaraki Kenpachi