Fuel Card Market Size, Share, Analysis, Trends & Forecast (2019-2025)
The titled, “Global Fuel Card Market 2019” report published by Adroit Market Research provides an extraordinary analysis for evaluating the Fuel Card industry, highlighting opportunities and supporting strategic and skillful decision-making.
[ClickPress, Thu Mar 28 2019] Fuel card or fleet card is simply a payment method which is used for fuel maintenance and repairing of company vehicles. A fuel card exactly works like any other credit card. Fleet cards allow your business to purchase fuel, repairing, and maintenance of vehicle within an authorized gas stations network and other merchants. Your fleet card manager can also see all the details of each and every transaction, which helps to save your business time and money. Unlike other cards, fuel cards are easy to operate.
The global Fuel card market has been segmented by different types, applications and geography. Further, type segment of the Fuel card market is sub-segmented into active cards as well as non- active cards. Similarly, application segment of the market is bifurcated into cars, taxis, buses, and goods vehicles and other.
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Geographically, Fuel card market across the globe has been segmented to various key regions covering Europe, North America, South America, Middle East & Africa and Asia-Pacific. Furthermore, Europe is anticipated to dominate the overall market with significant market over the forecast period.
Major factors driving the Fuel cards market are powerful online management and reporting tools, a simple payment solution for drivers, PIN Security and ease in payment & VAT approved invoices. Other than these factors Fuel cards have several other benefits such as:
- It enables allocation of a particular amount for fuelling and restrains the fuel expenditure to that amount for a specific period of time and then monitors the expenditure usage with future viewpoint.
- Along with providing financial benefits such as discounts, cash back and etc. fuel cards also enables saving a lot of time by cutting down on administration. Moreover, fuel card replaces wading through heaps of receipts & expense claims, as fuel expenditure will now be in a sole HMRC compliant invoice.
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The global Fuel cards market is moderately fragmented as well as competitive with prominent players focusing over making innovations in production technologies in order to improve efficacy and shelf life. Some of the key players operating in the competitive landscape of the market include ExxonMobil, SPC, Shell, Caltex, UOB, DBS, OCBC, Standard Chartered, Citibank, ANZ, POSB, American Express, HSBC and Maybank. Moreover, competitive landscape of the market provides new opportunities for the new entrants.
Some Points from TOC:
- Executive Summary
- Research Methodology
- Market Outlook
- Global Fuel Card Market Overview, By Type
- Global Fuel Card Market Overview, By Application
- Global Fuel Card Market Overview, By Region
- Company Profiles
Get the access of more information through our blog, Blogs and Case study:
- Blogs on "How Fuel Card Is Beneficial For Your Business?”
Benefits of Fuel Card
- Saves fuel costs and monitor driver
Fuel card payment is helpful for reducing expenses and improve workforce productivity for business success. To monitor and control fuel and maintenance expenses, a number of companies use fuel cards as a management and cost saving tool.
- Theft Control
With increasing oil prices and an unbalanced economy, employees may use the company’s dollar for their personal use. Company theft need to be monitored carefully. A credit card or gas card does not provide a company complete control over drivers purchase. However, fuel cards help companies to recognize unauthorized access and prevent it.
- Driver Support
Fuel cards also provide employees support. For companies that function on a cash base, drivers usually have to pay initial expenditures from their own pockets and then they have to wait for repayments from the management. Drivers with fuel card no need to use their own cash for work expenses.
Fuel card services are connected to a huge network of approved fuel and maintenance vendors. This offers an opportunity to save money on monthly purchases.
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- White Paper on "Fuel Card: A Perfect Fit For Your Company Fleets"
This whitepaper provides detailed information about the fuel card industry with current and future trends and the sectors it is extensively used in. It also covers in-depth analysis of fuel card features and its applications. This whitepaper will give you a clear idea about how fuel cards are used for real-time monitoring of the overall fuel expenses by your company driver. Fuel cards offer additional benefits by capturing low-level data that delivers details like cost per mile, gallons of fuel filled, and the maintenance of the vehicle. Fuel card offers a dynamic view of operations to management and helps your drivers perform cashless payment for vehicle fuels and other expenses.
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- Case Study on "Online Fuel Bill Tracking Made Easy By Fuel Card"
This case study provides a detailed scenario and various applications of fuel cards. In this digital age, the online payment industry is growing rapidly. It is largely driven by shifting consumer behavior and preferences. The main reasons behind this shift are social media, innovation technologies, and smartphones transforming the consumer experience. A fuel card is just like a credit or debit card given to company drivers for fuel, repair and maintenance of company’s vehicles. Many fuel cards are credit cards which are issued by particular gas station chains like Conoco or Shell oil. These fuel cards can only be operated by drivers at Conoco, Shell, or its sub-branch gas stations.
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