The global Commercial Fuel Cards market is anticipated to grow at a CAGR of 4.7 % during the forecast period (2022-2028). Fuel Cards provide a variety of benefits to fleet vendors by collecting low-level data on vehicle mileage, gallons of fuel consumed, and the need for vehicle servicing which is expected to propel the growth of the market during the forecast period. Gas Card service providers have begun to also include telematics interactions and rigorous reporting tools as standard product portfolios in order to improve fleet management productivity. Furthermore, Fuel Cards come in a variety of forms, including branded Fuel Cards, universal Fuel Cards, and merchant cards. Merchant Fuel Cards are expected to grow at the fastest rate during the forecast period.
The need for improved fuel management and the adoption of digital transaction solutions in the transportation industry drive the growth of the fuel cards market during the forecast period. Furthermore, efficient fleet administration aided by improved data capture drives, the integration of telematics with Fuel Cards, as well as the increased demand for Fuel Cards from developing countries, are expected to provide lucrative opportunities for the market. However, a lack of security measures stifles market growth.
The universal fuel cards are expected to drive the market growth during the forecast period. The factors such as high efficiency in supplying universal health coverage, actionable insights, level 3 data capture, online reporting tools, and demand for advanced products.
The Europe region is expected to hold a remarkable share in the commercial fuel cards market in 2019 and is expected to maintain its position during the forecast period. The presence of key players and the rapid adoption of latest payment technology in the market is the key factors driving the growth of the market in this region. However, Asia-Pacific is expected to grow at a significant be the fastest growing region during the forecast period, owing to booming IT infrastructure and substantial investments from the region’s private and public players.
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Competitive Landscape-
Texaco (Chevron), European Diesel Card, FleetOne, FleetCor Technologies, Inc., ExxonMobil, Keyfuels (Fleetcor), Shell Plc, among others.
By Type
Magnetic
Optical
Chip
By Application
Fleet Operators
Others
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Scope of the Report
The research study analyzes the Global Commercial Fuel Cards industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Global Commercial Fuel Cards Market Report
1. What was the Global Commercial Fuel Cards Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of Global Commercial Fuel Cards Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Global Commercial Fuel Cards Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the Global Commercial Fuel Cards market.
- The market share of the Global Commercial Fuel Cards market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Global Commercial Fuel Cards market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Global Commercial Fuel Cards market.
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