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Fuel Cards Market Expected to Reach $842,410 Million by 2023

The global fuel cards market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Rise in new payment methods is expected to help fuel card issuers to evolve from a card-driven environment to a customer-driven environment, thereby contributing to the growth of fuel cards in North America and Europe.

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Fuel Cards Market Expected to Reach $842,410 Million by 2023

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  1. , Top Impacting Factors Fuel Cards Market Forecast 2018-2023 • Pages: 189 Tables: 61 Charts: 61

  2. FUEL CARDS MARKET Fuel Cards Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global fuel cards market was valued at $595,720 million in 2016, and is projected to reach $842,410 million by 2023, growing at a CAGR of 5.3% from 2017 to 2023. Access Full Summary at: www.alliedmarketresearch.com/fuel-cards-market The fuel refill application segment witnessed high demand in 2016, as fuel cards help to determine the gallons or liters of fuel filled along with the details on mileage of vehicles. In addition, increase in usage of cashless payment methods, growth associated with prepaid cards, and rise in number of fleet owners and small and medium enterprises are expected to fuel the fuel cards market growth in the near future. Moreover, the vehicle service segment witnessed increased adoption of fuel cards across various regions, owing to increase in number of fleets globally that use cards to pay for vehicle maintenance and expenses at the discretion of the fleet owner.

  3. FUEL CARDS MARKET The Europe fuel cards market was the largest in terms of market size in 2016, owing to growth in the automobile sector and developments in smart chip technology. Global players focus on offering value-added services such as payment of vehicle repairs and other expenses to strengthen their product offering. In addition, industry participants are focused on providing enhanced security to avoid any fraud or misuse of payment transactions. Major oil companies, merchants, and suppliers need to securely receive a huge range of payments instruments, including partner fuel and loyalty cards. In addition, with strict regulations, fleet cards providers need to adapt to varying legal frameworks, as well as numerous cybersecurity threats. Increase in demand for mobile payments and rise in number of large fleets are anticipated to augment the market penetration. The prominent markets, such as North America, Europe, and Asia-Pacific, provide growth opportunities to the global fuel cards market. Moreover, growth in adoption of cashless payments methods is expected to boost the fuel cards market growth in the near future. Europe was the highest revenue contributor in 2016, accounting for around 42.09% share of the overall fuel cards market. In addition, Asia-Pacific is projected to grow at the highest CAGR of 7.1% during the forecast period, driven by rise in number of motor vehicles in emerging countries such as China, South Korea, and Japan.Download Sample Copy of Report : www.alliedmarketresearch.com/request-sample/2969

  4. FUEL CARDS MARKET • Key Findings of the Fuel Cards Market: • The universal fuel card type accounted for the highest share of the global market in 2016, growing at a CAGR of 5.1% from 2017 to 2023. • Europe generated the highest revenue in 2016, valued at $250,739 million. • The fuel refill segment dominated the global fuel card market, in terms of market size, during the forecast period. • U.S. dominated the North America fuel cards market in 2016. In addition, Canada, China, India, South Africa, and the other emerging markets are anticipated to provide significant opportunities for major players.

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  8. FUEL CARDS MARKET • KEY PLAYERS • Royal Dutch Shell • ExxonMobil • British Petroleum • FleetCor • U.S. Bancorp • Wex • Oilibya • Puma Energy • Engen • First National Bank • Request Customization Report: www.alliedmarketresearch.com/request-for-customization/2969

  9. FUEL CARDS MARKET • Contact: • David Correa • 5933 NE Win Sivers Drive • #205, Portland, OR 97220 • United States • Toll Free (USA/Canada): • +1-800-792-5285, +1-503-894-6022, +1-503-446-1141 • UK: +44-845-528-1300 • Hong Kong: +852-301-84916 • India (Pune): +91-20-66346060 • Fax: +1?855?550-5975 • help@alliedmarketresearch.com • Web: https://www.alliedmarketresearch.com

  10. FUEL CARDS MARKET Thank You! For More Details Visit us at https://www.alliedmarketresearch.com/fuel-cards-market Follow Us On

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