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Fuel Cards Market by Type (Branded, Universal, and Merchant) and Application (Fuel Refill, Parking, Vehicle Service, Toll Charge, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023
Update Available On-Demand

IT in BFSI	BF_182969	Pages: 189	Jan 2018 \| 7636 Views
Author(s) : Pankaj Lanjudkar	Tables: 61	Charts: 61	Formats*:

Fuel Cards Market Outlook - 2023

Global Fuel Cards Market size was valued at $595,720 million in 2016, and is estimated to reach $842,410 million by 2023, growing at a CAGR of 5.3% from 2017 to 2023. The global fuel card market is expected to witness significant growth rate, due to growth associated with prepaid cards, rise in mobile payments and increase in digitalization in various developed and developing regions, including North America, Europe, and Asia-Pacific.

Global vendors are investing heavily in the market to improve the overall fuel card offerings to decrease the risk of fraud, minimize form filling, and improve tracking and reporting. The Asia-Pacific fuel card market is expected to register the highest CAGR in the near future. China, India, Japan, and Australia are expected to offer lucrative opportunities for market players. Moreover, increase in demand for mobile payments and need to monitor spending and fuel rebates drive this market in the region.

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Fuel cards are available in various forms such as branded fuel cards, universal fuel cards, and merchant fuel cards, all of which are offered by prominent players, such as FleetCor, Wex, Inc., Royal Dutch Shell, ExxonMobil, and others, to simplify fuel and maintenance data management. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.

The global fuel card market analysis 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. However, LAMEA is expected to account less market share in the global market as compared to other regions, due to lack of awareness about the benefits and lack of internet connectivity in underdeveloped countries. Furthermore, Latin America and Middle East are expected to gain traction, but the fuel cards market growth is expected to be stable during the forecast period.

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Fuel Cards Market Segmentation

The global fuel card market share is segmented on the basis of Type, application, and geography. On the basis of Type, it is divided into branded, universal, and merchant. By application, it is categorized into fuel refill, parking, vehicle service, toll charge, and others. By geography, the fuel cards market is classified into North America, Europe, Asia-Pacific, and LAMEA. The key players profiled in the report are Royal Dutch Shell, ExxonMobil, British Petroleum, FleetCor, U.S. Bancorp, Wex, Inc., Oilibya, Puma Energy, Engen, and First National Bank. The report discusses the key strategies adopted by companies along with the detailed analysis of the current trends, upcoming opportunities, and restraints along with detailed information about their impacts in the global fuel card market growth.

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Top Impacting Factors

High Number of Internet Users and Rise in New Payment Methods

Rise in internet users has compelled customers to use plastic money instead of keeping hard cash. As stated by several banks, the new age segment has been one of the key factors enforcing sale transaction through fuel cards globally to eliminate manual tasks such as auditing and submission of receipts.

Prone to Fraudulent Attacks

Fuel cards have become the fastest growing payment method, owing to evolution in electronic payment. This advanced payment method is prone to hacking, as currently these cards do not have enough security measures that can prevent payment frauds. Such security breaches leading to data loss and confidentiality breach of crucial information are possible, since dozens of criminal hackers have started to exploit fuel card systems as well as back-office systems.

Change in Demographics Landscape

Fuel cards are utilized by fleet owners to manage and control fuel costs while providing better visibility of the operations. Fuel cards are being used as debit cards that allow drivers to pay for fuel, repairs, and maintenance. Earlier, fleet cards were used mostly by trucking companies; however, over the past few years, there has been a change in customer demographics. The change offers ample opportunities to fuel card providers to innovate their product offerings for each customer type.

Lack of IT infrastructure in the Underdeveloped Nations

Countries in Latin America, the Middle East, and Africa have not yet adopted technologically advanced hubs with rich IT infrastructure, which in turn is expected to hinder the global market growth in the near future.

Key Benefits for Stakeholders

In-depth analysis of the global fuel cards market share and its dynamics are provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on the prevailing opportunities.
Porter’s five forces analysis examines the competitive structure of the fuel cards market, and provides a clear understanding of the factors that influence the market entry and expansion.
A detailed analysis of the geographical segments enables the identification of profitable segments for market players.
Comprehensive analysis of the trends, sub-segments, and key revenue pockets is provided.

Fuel Cards Market Key Segments:

By Type

Branded
Universal
Merchant

By Application

Fuel Refill
Parking
Vehicle Service
Toll Charge
Others

By Geography

North America
- U.S.
- Canada
- Mexico
Europe
- UK
- Germany
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa

CHAPTER 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. KEY MARKET SEGMENTATION
1.5. RESEARCH METHODOLOGY

1.5.1. Secondary research
1.5.2. Primary research
1.5.3. Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

CHAPTER 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top Winning Strategies

3.3. PORTER’S FIVE FORCES ANALYSIS

3.3.1. low bargaining power of suppliers
3.3.2. Moderate bargaining power of buyers
3.3.3. Moderate-to-low threat of substitutes
3.3.4. Moderate-high threat of new entrants
3.3.5. High competitive rivalry

3.4. KEY PLAYER POSITIONING, 2016
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Need for improved fuel management
3.5.1.2. Penetration of digital transaction solutions

3.5.2. Restraints

3.5.2.1. Dearth of security measures

3.5.3. Opportunities

3.5.3.1. Increase in demand from developing countries

CHAPTER 4 FUEL CARDS MARKET BY TYPE

4.1. OVERVIEW
4.2. BRANDED

4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis by country

4.3. UNIVERSAL

4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis by country

4.4. MERCHANT

4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market analysis by country

CHAPTER 5 FUEL CARDS MARKET BY APPLICATION

5.1. OVERVIEW
5.2. FUEL REFILL

5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis by country

5.3. PARKING

5.3.1. Market size and forecast, by region
5.3.2. Market analysis by country

5.4. VEHICLE SERVICE

5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market analysis by country

5.5. TOLL CHARGE

5.5.1. Key market trends, growth factors and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market analysis by country

5.6. OTHERS

5.6.1. Key market trends, growth factors and opportunities
5.6.2. Market size and forecast, by region
5.6.3. Market analysis by country

CHAPTER 6 FUEL CARDS MARKET, BY REGION

6.1. OVERVIEW
6.2. NORTH AMERICA

6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast by country
6.2.3. Market size and forecast by type
6.2.4. Market size and forecast by application

6.2.4.1. U.S.

6.2.4.1.1. Market size and forecast by type
6.2.4.1.2. Market size and forecast by application

6.2.4.2. Canada

6.2.4.2.1. Market size and forecast by type
6.2.4.2.2. Market size and forecast by application

6.2.4.3. Mexico

6.2.4.3.1. Market size and forecast by type
6.2.4.3.2. Market size and forecast by application

6.3. EUROPE

6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast by country
6.3.3. Market size and forecast by type
6.3.4. Market size and forecast by application

6.3.4.1. UK

6.3.4.1.1. Market size and forecast by type
6.3.4.1.2. Market size and forecast by application

6.3.4.2. Germany

6.3.4.2.1. Market size and forecast by type
6.3.4.2.2. Market size and forecast by application

6.3.4.3. France

6.3.4.3.1. Market size and forecast by type
6.3.4.3.2. Market size and forecast by application

6.3.4.4. Rest of Europe

6.3.4.4.1. Market size and forecast by type
6.3.4.4.2. Market size and forecast by application

6.4. ASIA-PACIFIC

6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast by country
6.4.3. Market size and forecast by type
6.4.4. Market size and forecast by application

6.4.4.1. China

6.4.4.1.1. Market size and forecast by type
6.4.4.1.2. Market size and forecast by application

6.4.4.2. India

6.4.4.2.1. Market size and forecast by type
6.4.4.2.2. Market size and forecast by application

6.4.4.3. Japan

6.4.4.3.1. Market size and forecast by type
6.4.4.3.2. Market size and forecast by application

6.4.4.4. Rest of Asia-Pacific

6.4.4.4.1. Market size and forecast by type
6.4.4.4.2. Market size and forecast by application

6.5. LAMEA

6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast by region
6.5.3. Market size and forecast by type
6.5.4. Market size and forecast by application

6.5.4.1. Latin America

6.5.4.1.1. Market size and forecast by type
6.5.4.1.2. Market size and forecast by application

6.5.4.2. Middle East

6.5.4.2.1. Market size and forecast by type
6.5.4.2.2. Market size and forecast by application

6.5.4.3. Africa

6.5.4.3.1. Market size and forecast by type
6.5.4.3.2. Market size and forecast by application

CHAPTER 7 COMPANY PROFILES

7.1. BP P.L.C.

7.1.1. Company overview
7.1.2. Company snapshot
7.1.3. Operating business segments
7.1.4. Product portfolio
7.1.5. Business performance
7.1.6. Key strategic moves and developments

7.2. ENGEN LIMITED

7.2.1. Company overview
7.2.2. Company snapshot
7.2.3. Operating business segments
7.2.4. Product portfolio
7.2.5. Business performance
7.2.6. Key strategic moves and developments

7.3. EXXON MOBIL CORPORATION

7.3.1. Company overview
7.3.2. Company snapshot
7.3.3. Operating business segments
7.3.4. Product portfolio
7.3.5. Business performance
7.3.6. Key strategic moves and developments

7.4. FIRSTRAND LIMITED. (FIRST NATIONAL BANK)

7.4.1. Company overview
7.4.2. Company snapshot
7.4.3. Operating business segments
7.4.4. Product portfolio
7.4.5. Business performance
7.4.6. Key strategic moves and developments

7.5. FLEETCOR TECHNOLOGIES, INC.

7.5.1. Company overview
7.5.2. Company snapshot
7.5.3. Operating business segments
7.5.4. Product portfolio
7.5.5. Business performance
7.5.6. Key strategic moves and developments

7.6. LIBYA OIL HOLDING LTD

7.6.1. Company overview
7.6.2. Company snapshot
7.6.3. Operating business segments
7.6.4. Product portfolio
7.6.5. Key strategic moves and developments

7.7. PUMA ENERGY

7.7.1. Company overview
7.7.2. Company snapshot
7.7.3. Operating business segments
7.7.4. Product portfolio
7.7.5. Business performance
7.7.6. Key strategic moves and developments

7.8. ROYAL DUTCH SHELL PLC

7.8.1. Company overview
7.8.2. Company snapshot
7.8.3. Operating business segments
7.8.4. Product portfolio
7.8.5. Business performance
7.8.6. Key strategic moves and developments

7.9. U.S. BANCORP

7.9.1. Company overview
7.9.2. Company snapshot
7.9.3. Operating business segments
7.9.4. Product portfolio
7.9.5. Business performance
7.9.6. Key strategic moves and developments

7.10. WEX INC.

7.10.1. Company overview
7.10.2. Company snapshot
7.10.3. Operating business segments
7.10.4. Product portfolio
7.10.5. Business performance
7.10.6. Key strategic moves and developments

LIST OF TABLES

TABLE 1. GLOBAL FUEL CARDS MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 2. BRANDED FUEL CARDS MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 3. UNIVERSAL FUEL CARDS MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 4. MERCHANT FUEL CARDS MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 5. GLOBAL FUEL CARDS MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 6. FUEL REFILL MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 7. PARKING MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 8. VEHICLE SERVICE MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 9. TOLL CHARGE MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 10. OTHERS MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 11. FUEL CARDS MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 12. NORTH AMERICA: FUEL CARDS MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 13. NORTH AMERICA: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 14. NORTH AMERICA: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 15. US: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 16. US: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 17. CANADA: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 18. CANADA: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 19. MEXICO: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 20. MEXICO: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 21. EUROPE: FUEL CARDS MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 22. EUROPE: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 23. EUROPE: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 24. UK: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 25. UK: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 26. GERMANY: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 27. GERMANY: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 28. FRANCE: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 29. FRANCE: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 30. REST OF EUROPE: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 31. REST OF EUROPE: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 32. ASIA-PACIFIC: FUEL CARDS MARKET BY COUNTRY, 2016-2023 ($MILLION)
TABLE 33. ASIA-PACIFIC: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 34. ASIA-PACIFIC: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 35. CHINA: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 36. CHINA: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 37. INDIA: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 38. INDIA: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 39. JAPAN: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 40. JAPAN: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 41. REST OF ASIA-PACIFIC: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 42. REST OF ASIA-PACIFIC: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 43. LAMEA: FUEL CARDS MARKET BY REGION, 2016-2023 ($MILLION)
TABLE 44. LAMEA: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 45. LAMEA: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 46. LATIN AMERICA: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 47. LATIN AMERICA: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 48. MIDDLE EAST: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 49. MIDDLE EAST: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 50. AFRICA: FUEL CARDS MARKET BY TYPE, 2016-2023 ($MILLION)
TABLE 51. AFRICA: FUEL CARDS MARKET BY APPLICATION, 2016-2023 ($MILLION)
TABLE 52. BP P.L.C: COMPANY SNAPSHOT
TABLE 53. BP P.L.C: OPERATING SEGMENTS
TABLE 54. BP P.L.C: PRODUCT PORTFOLIO
TABLE 55. ENGEN LIMITED: COMPANY SNAPSHOT
TABLE 56. ENGEN LIMITED: OPERATING SEGMENTS
TABLE 57. ENGEN LIMITED: PRODUCT PORTFOLIO
TABLE 1.1. EXXON MOBIL CORPORATION: COMPANY SNAPSHOT
TABLE 58. EXXON MOBIL CORPORATION: OPERATING SEGMENTS
TABLE 59. EXXON MOBIL CORPORATION: PRODUCT PORTFOLIO
TABLE 60. FIRSTRAND BANK LIMITED: COMPANY SNAPSHOT
TABLE 61. FIRSTRAND BANK LIMITED: OPERATING SEGMENTS
TABLE 62. FIRSTRAND BANK LIMITED: PRODUCT PORTFOLIO
TABLE 63. FLEETCOR TECHNOLOGIES, INC: COMPANY SNAPSHOT
TABLE 64. FLEETCOR TECHNOLOGIES, INC: OPERATING SEGMENTS
TABLE 65. FLEETCOR TECHNOLOGIES, INC: PRODUCT PORTFOLIO
TABLE 66. LIBYA OIL HOLDINGS LTD: COMPANY SNAPSHOT
TABLE 67. LIBYA OIL HOLDINGS LTD: OPERATING SEGMENTS
TABLE 68. LIBYA OIL HOLDINGS LTD: PRODUCT PORTFOLIO
TABLE 69. PUMA ENERGY: COMPANY SNAPSHOT
TABLE 70. PUMA ENERGY: OPERATING SEGMENTS
TABLE 71. PUMA ENERGY: PRODUCT PORTFOLIO
TABLE 72. ROYAL DUTCH SHELL PLC: COMPANY SNAPSHOT
TABLE 73. ROYAL DUTCH SHELL PLC: OPERATING SEGMENTS
TABLE 74. ROYAL DUTCH SHELL PLC: PRODUCT PORTFOLIO
TABLE 75. U.S. BANCORP: COMPANY SNAPSHOT
TABLE 76. U.S. BANCORP: OPERATING SEGMENTS
TABLE 77. U.S. BANCORP: PRODUCT PORTFOLIO
TABLE 78. WEX INC: COMPANY SNAPSHOT
TABLE 79. WEX INC: OPERATING SEGMENTS
TABLE 80. WEX INC: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 1. KEY MARKET SEGMENTATION
FIGURE 2. TOP IMPACTING FACTORS
FIGURE 3. TOP INVESTMENT POCKETS IN THE GLOBAL FUEL CARDS MARKET
FIGURE 4. TOP WINNING STRATEGIES, BY YEAR, 2015-2017*
FIGURE 5. TOP WINNING STRATEGIES, BY DEVELOPMENT, 2015-2017* (%)
FIGURE 6. TOP WINNING STRATEGIES, BY COMPANY, 2015-2017*
FIGURE 7. BARGAINING POWER OF SUPPLIERS
FIGURE 8. BARGAINING POWER OF BUYERS
FIGURE 9. THREAT OF SUBSTITUTES
FIGURE 10. THREAT OF NEW ENTRANTS
FIGURE 11. COMPETITIVE RIVALRY
FIGURE 12. KEY PLAYER POSITIONING OF GLOBAL FUEL CARDS MARKET, 2016
FIGURE 13. MARKET DYNAMICS
FIGURE 14. GLOBAL FUEL CARDS MARKET, BY TYPE
FIGURE 15. COMPARATIVE SHARE ANALYSIS OF BRANDED FUEL CARD MARKET, 2016 & 2023, (%)
FIGURE 16. COMPARATIVE SHARE ANALYSIS OF UNIVERSAL FUEL CARD MARKET, 2016 & 2023 (%)
FIGURE 17. COMPARATIVE SHARE ANALYSIS OF MERCHANT FUEL CARD MARKET, 2016 & 2023 (%)
FIGURE 18. GLOBAL FUEL CARDS MARKET, BY APPLICATION
FIGURE 19. COMPARATIVE SHARE ANALYSIS OF FUEL REFILL MARKET, 2016 & 2023 (%)
FIGURE 20. COMPARATIVE SHARE ANALYSIS OF PARKING MARKET, 2016 & 2023 (%)
FIGURE 21. COMPARATIVE SHARE ANALYSIS OF VEHICLE SERVICE MARKET, 2016 & 2023 (%)
FIGURE 22. COMPARATIVE SHARE ANALYSIS OF TOLL CHARGE MARKET, 2016 & 2023 (%)
FIGURE 23. COMPARATIVE SHARE ANALYSIS OF OTHERS MARKET, 2016-2023 (%)
FIGURE 24. FUEL CARDS MARKET, BY REGION
FIGURE 25. NORTH AMERICA: FUEL CARDS MARKET
FIGURE 26. U.S. FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 27. CANADA FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 28. MEXICO FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 29. EUROPE: FUEL CARDS MARKET
FIGURE 30. U.K. FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 31. GERMANY FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 32. FRANCE FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 33. REST OF EUROPE FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 34. ASIA-PACIFIC: FUEL CARDS MARKET
FIGURE 35. CHINA FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 36. INDIA FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 37. JAPAN FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 38. REST OF ASIA-PACIFIC FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 39. LAMEA: FUEL CARDS MARKET
FIGURE 40. LATIN AMERICA FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 41. MIDDLE EAST FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 42. AFRICA FUEL CARDS MARKET, 2016-2023 ($MILLION)
FIGURE 43. BP P.L.C: REVENUE, 2014-2016 ($MILLION)
FIGURE 44. BP P.L.C: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 45. BP P.L.C: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 46. ENGEN LIMITED: REVENUE, 2014-2016 ($MILLION)
FIGURE 47. EXXON MOBIL CORPORATION: REVENUE, 2014-2016 ($MILLION)
FIGURE 48. FIRSTRAND BANK LIMITED: REVENUE, 2015-2017 ($MILLION)
FIGURE 49. FIRSTRAND BANK LIMITED: REVENUE SHARE BY DIVISION, 2017 (%)
FIGURE 50. FLEETCOR TECHNOLOGIES, INC: REVENUE, 2014-2016 ($MILLION)
FIGURE 51. FLEETCOR TECHNOLOGIES, INC: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 52. PUMA ENERGY: REVENUE, 2014-2016 ($MILLION)
FIGURE 53. PUMA ENERGY: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 54. PUMA ENERGY: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 55. ROYAL DUTCH SHELL PLC: REVENUE, 2014-2016 ($MILLION)
FIGURE 56. ROYAL DUTCH SHELL PLC: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 57. ROYAL DUTCH SHELL PLC: REVENUE SHARE BY GEOGRAPHY, 2016 (%)
FIGURE 58. U.S. BANCORP: REVENUE, 2014-2016 ($MILLION)
FIGURE 59. WEX INC: REVENUE, 2014-2016 ($MILLION)
FIGURE 60. WEX INC: REVENUE SHARE BY SEGMENT, 2016 (%)
FIGURE 61. WEX INC: REVENUE SHARE BY GEOGRAPHY, 2016 (%)

The global fuel cards market is expected to reach $842,410 million by 2023, owing to growth in value-added services that enable fleet managers to minimize fraudulent claims and improve fuel management. Further, emerging trend of digitization and Internet of Things (IoT) drives the demand for fuel cards in developing regions. The global fuel cards market is expected to witness high growth rate during the forecast period, owing to increase in alliances and collaborations among various key vendors and users, especially in the developing countries. However, increased uptake in mobile payments and data breaches are expected to hinder fuel cards market growth.

Fuel cards provide various benefits to fleet vendors by capturing low-level data on mileage of vehicles, the gallons of fuel filled, and the need for servicing the vehicle. Fuel card service providers have started to embed the telematics interface and robust reporting facilities as standard product offerings to improve fleet management productivity. Moreover, there are various forms in which fuel cards are available, these include branded fuel cards, universal fuel cards, and merchant cards. The merchant fuel cards are anticipated to witness the highest growth rate during the forecast period.

In 2016, the fuel refill segment was the highest contributor in the global fuel cards market share, in terms of revenue, followed by the vehicle service segment. Furthermore, the others segment is anticipated to witness the highest growth rate, owing to rising demand for cashless fuel transactions.

Key players have adopted various strategies, such as new product launch, business expansion, acquisition, and strategic alliances, to create more awareness about fuel cards and increase adoption across the end users.