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Scope of the Report
The report entitled “Global Fleet Card Market: Size, Trends and Opportunities (2019-2023 Edition)” provides an in-depth analysis of the global fuel card market with detailed description of market size and growth. The analysis includes market size in terms of value, volume, market share by region, by segment and by application.
The report also provides brief regional/country analysis of Europe. The analysis include market sizing in terms of value, volume, application, segment and fuel spending. Europe is expected to dominate the global fleet card market in the forecasted period also.
Furthermore, the report also assesses the key opportunities available in the market and outlines the market dynamics that are and will be accountable for growth of the industry. Growth of the global fleet card market has also been forecasted for the period 2019-2023, taking into consideration previous growth outlines, growth drivers and the existing and forthcoming trends.
A brief company profiling of major players namely BP, WEX Inc., FLEETCOR and, Royal Dutch Shell has been provided in the report on the basis of aspects like business overview, financial overview and business strategies adopted by respective companies.
- WEX Inc.
- Royal Dutch Shell
- Regional Coverage
A card especially designed for the payment the fuel stations are known as fuel cards or fleet cards. The card is similar in appearance like a credit card, and works in a similar way A card especially designed for the payment the fuel stations are known as fuel cards or fleet cards. The card is similar in appearance like a credit card, and works in a similar way. It is important for fleets to keep a close eye on fuel purchases in order to manage and control fuel consumption. Such cards eradicate the manual task of submission of receipts, auditing and the issuance of checks. Smartchip technology (similar to Chip and PIN) is the largest development in the fleet card industry in recent years.
A wide variety of fleet cards are available in the market and each with different features and specifications. The most common types of fuel cards are: Branded Fuel Cards, Universal Fuel Cards and, Merchant Branded Cards. On the basis of type of vehicles, fleet cards are available for light fleets and heavy fleets.
The global Fleet card market has increased at a significant growth rate over the past few years and projections are made that the market would rise in the next four years i.e. 2019 to 2023. The global Fleet card market is expected to increase on the back of rising demand for cashless fuel transactions, consolidation of the fragmented market, availability of a large number of value added services associated with fuel cards, etc. Yet the market faces some challenges such as rising competition from new entrants, changing legal framework, volatile oil prices, rising consumer expectations, etc.