Market Overview:
The global commercial fuel cards market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for fuel cards from fleet operators and businesses across the globe. In addition, the growing adoption of digital payments is also contributing to the growth of this market. The global commercial fuel cards market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into magnetic cards, optical cards, and chip cards. The magnetic card segment is expected to hold a major share in this market owing to its low cost as compared to other types of fuel cards. However, with increasing security concerns among consumers regarding data theft and frauds, there is a growing demand for chip-based fuelcards which offer enhanced security features over traditional magnetic stripe-basedcards .
Product Definition:
Commercial fuel cards are plastic cards that allow businesses to purchase fuel for their vehicles. These cards work in the same way as regular credit or debit cards, but they are specifically designed for use at gas stations. Many commercial fuel card providers offer discounts on fuel prices, and some also offer other benefits such as car washes and repairs.
The importance of commercial fuel cards lies in their ability to save businesses money on gasoline expenses. By taking advantage of the discounts offered by card providers, companies can cut down on their overall gas costs. Additionally, using a commercial fuel card makes it easier to track gasoline expenditures and manage budgets.
Magnetic:
Magnetic stripe is a thin strip of metal or plastic that contains magnetic particles. It is used in credit cards, debit cards, and ATM (cash dispensing) machines to store information such as card name, account number and expiry date. The data stored on the magnetic stripe can be changed using software update in the card’s microprocessor.
Optical:
Optical is a technology that uses light to transfer data. It is mainly used in smart cards and mobile payment applications. The technology has evolved from traditional contact-based payments, where two metal plates are pressed together to complete an electrical circuit; the process of using optics instead of electricity for communication makes optical cards more secure than their contact counterparts as they are difficult to replicate.
Application Insights:
The trucks and buses application segment accounted for the largest revenue share of over 30% in 2017. The growth is attributed to the increasing number of public transport vehicles across countries, such as India, China, U.K., Australia and New Zealand. Furthermore, government initiatives promoting fuel card adoption are expected to drive the demand further. For instance, in 2015 Singapore¢â‚¬â„¢s Public Transport Council announced a plan to install contactless payment system on bus gates that will allow commuters to pay by simply touching their stored-value cards on readers at selected points along bus routes. Such initiatives are expected to increase commercialization of fuel cards for buses and other forms of public transportation which is likely to propel industry growth over the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 owing to increasing fuel prices, growing population, and rapid urbanization. The region is expected to witness significant growth over the forecast period on account of increasing number of commercial vehicles on roadways coupled with stringent emission norms. Europe accounted for a major share in terms of revenue due to high acceptance level of different types of cards and presence of various service providers across this region.
North America also held a substantial share owing to high usage rate for paying fares using contactless payment technology such as digital wallets or smart phones rather than cash or card payments. Moreover, presence regional offices for some prominent players such as Visa Inc., MasterCard Inc., American Express Co., and Discover Financial Services is likely boost their customer base within North America region thereby contributing significantly towards overall revenue generation in near future.
Growth Factors:
- Increasing demand for fuel cards from the transportation sector as a result of the growth in global trade and commerce.
- Proliferation of fuel card programs by commercial banks to attract and retain customers.
- Emergence of new technologies that make it easier for businesses to track their spending on fuel cards, improving efficiency and cost-effectiveness.
- Growing demand for green/environmentally friendly fuels, which is being supported by government initiatives and private sector investments in alternative energy sources such as electric vehicles, biofuels etc., providing a boost to the commercial fuel card market 5 Increased focus on fleet management by businesses looking to optimize their operations through better control over vehicle usage and expenses
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Fuel Cards Market Research Report
By Type
Magnetic, Optical, Chip
By Application
Taxis, Buses, Private Car, Other
By Companies
ExxonMobil, Shell, SPC, Caltex, DBS, UOB, OCBC, Citibank, Standard Chartered, ANZ, HSBC, POSB, American Express, Maybank
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
192
Number of Tables & Figures
135
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Fuel Cards Market Report Segments:
The global Commercial Fuel Cards market is segmented on the basis of:
Types
Magnetic, Optical, Chip
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Taxis, Buses, Private Car, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ExxonMobil
- Shell
- SPC
- Caltex
- DBS
- UOB
- OCBC
- Citibank
- Standard Chartered
- ANZ
- HSBC
- POSB
- American Express
- Maybank
Highlights of The Commercial Fuel Cards Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Magnetic
- Optical
- Chip
- By Application:
- Taxis
- Buses
- Private Car
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial Fuel Cards Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial fuel cards are a type of prepaid card that can be used to purchase gasoline, diesel, and other fuels. These cards typically have a set amount of funds that can be spent on fuel purchases at participating locations.
Some of the major companies in the commercial fuel cards market are ExxonMobil, Shell, SPC, Caltex, DBS, UOB, OCBC, Citibank, Standard Chartered, ANZ, HSBC, POSB, American Express, Maybank.
The commercial fuel cards market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Fuel Cards Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial Fuel Cards Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial Fuel Cards Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial Fuel Cards Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial Fuel Cards Market Size & Forecast, 2020-2028
4.5.1 Commercial Fuel Cards Market Size and Y-o-Y Growth
4.5.2 Commercial Fuel Cards Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Magnetic
5.2.2 Optical
5.2.3 Chip
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Taxis
6.2.2 Buses
6.2.3 Private Car
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Fuel Cards Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Fuel Cards Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Magnetic
9.6.2 Optical
9.6.3 Chip
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Taxis
9.10.2 Buses
9.10.3 Private Car
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Magnetic
10.6.2 Optical
10.6.3 Chip
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Taxis
10.10.2 Buses
10.10.3 Private Car
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Magnetic
11.6.2 Optical
11.6.3 Chip
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Taxis
11.10.2 Buses
11.10.3 Private Car
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Magnetic
12.6.2 Optical
12.6.3 Chip
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Taxis
12.10.2 Buses
12.10.3 Private Car
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Magnetic
13.6.2 Optical
13.6.3 Chip
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Taxis
13.10.2 Buses
13.10.3 Private Car
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Fuel Cards Market: Competitive Dashboard
14.2 Global Commercial Fuel Cards Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ExxonMobil
14.3.2 Shell
14.3.3 SPC
14.3.4 Caltex
14.3.5 DBS
14.3.6 UOB
14.3.7 OCBC
14.3.8 Citibank
14.3.9 Standard Chartered
14.3.10 ANZ
14.3.11 HSBC
14.3.12 POSB
14.3.13 American Express
14.3.14 Maybank
