Dallas, May 26, 2021 (GLOBE NEWSWIRE) -- Fuel cards are improved payment means to augment hassle-free digital payments in the fuel industry. It is categorically used for payment on various fuel transactions encompassing gasoline and diesel across gas outlets. Ongoing hype in the digital payment landscape is touted to reckon heavy returns in fuel card market in foreseeable future, a new report by Orbis Research claims.
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Besides favorable adoption rates amongst developed economies population, the trend is catching substantial pomp even across emerging economies where digitization transformations are underway. . Additionally, with pronounced needs for fuel, on the back of mounting population, global adoption of modern payment system such as fuel cards is spectacular. These events are likely to bode well with substantial growth in fuel cards market.
Fuel Card used by Moving Services, Packing Services, Postal and Courier Services, Logistics Services, Taxi Booking and Support Services, Freight Transport and Private Cars. Report data showed that 56.29% of the Fuel Card market demand in Private Cars, 10.49% in Freight Transport, and 8.27% in Taxi Booking and Support Services in 2015.
There are two kinds’ productions constituting the Fuel Card, which are Active Cards and Non-Active Cards. Active Cards is important in the Fuel Card, with a Cumulative Sales market share nearly 71.01% in 2015.
Briefly speaking, in the next few years, Fuel Card industry will still be a relative steady industry. Sales of Fuel Card have brought a lot of opportunities, there will more companies enter into this industry.
Market Analysis and Insights: Global Fuel Card Market
The global Fuel Card market size is projected to reach US$ XX million by 2026, from US$ XX million in 2019, at a CAGR of XX% during 2021-2026.
Need for Real Time Transaction Data Prompts Favors Fuel Card Adoption
Prompt government initiatives underway are likely to simplify digital transactions and back fuel card ownership in developing countries, despite affinity towards cash. Minimal transaction time is one of the major advantages of fuel cards. Fuel behemoths are partnering with tech honchos to revolutionize payment gateways, thus mimicking growth in fuel cards market. Besides point of sale devices, QR code scans are the next big thing in fuel card space.
Oil marketing veterans and retail outlets are equipped with state-of-the art facilities such as e-wallet options to leverage prompt digital transactions across gas stations. Additionally, sensitization programs to generate awareness on digital payment and fuel cards further ensure rapid adoption. These ongoing developments in digital transformation are touted to favor mass scale adoption of fuel cards across developing countries.
Government digitization trends offer optimal opportunities for the fuel industry across emerging economies such as India. Emerging economies such as India is soon embarking on modernizing industrial pillars that decide its economic outlook. Oil and gas industry plays a magnanimous role in shaping its economy, backed by strong consumer demands. Discounts such as cash backs are instantaneously offered to consumers in their bank accounts on every purchase. This is fortifying fuel card market across emerging countries which are also vouching for digital economy.
The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Fuel Card market.
Fuel Card Breakdown Data by Type
Active Cards
Non-Active Cards
Fuel Card Breakdown Data by Application
Taxis
Buses
Goods Vehicles
Private Car
Others
Based on regional and country-level analysis, the Fuel Card market has been segmented as follows:
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of Middle East & Africa
In the competitive analysis section of the report, leading as well as prominent players of the global Fuel Card market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2021. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2016-2021.
The following players are covered in this report:
ExxonMobil
Shell
SPC
Caltex
DBS
UOB
OCBC
Citibank
Standard Chartered
ANZ
HSBC
POSB
American Express
Maybank
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Table of Contents:
Chapter One: Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Fuel Card Market Size Growth Rate by Type: 2016 VS 202Chapter One: VS 2027
1.2.2 Active Cards
1.2.3 Non-Active Cards
1.3 Market by Application
1.3.1 Global Fuel Card Market Share by Application: 2016 VS 202Chapter One: VS 2027
1.3.2 Taxis
1.3.3 Buses
1.3.4 Goods Vehicles
1.3.5 Private Car
1.3.6 Others
1.4 Study Objectives
1.5 Years Considered
Chapter Two: Global Growth Trends
2.1 Global Fuel Card Market Perspective (2016-2027)
2.2 Fuel Card Growth Trends by Regions
2.2.1 Fuel Card Market Size by Regions: 2016 VS 202Chapter One: VS 2027
2.2.2 Fuel Card Historic Market Share by Regions (2016-2021)
2.2.3 Fuel Card Forecasted Market Size by Regions (2022-2027)
2.3 Fuel Card Industry Dynamic
2.3.1 Fuel Card Market Trends
2.3.2 Fuel Card Market Drivers
2.3.3 Fuel Card Market Challenges
2.3.4 Fuel Card Market Restraints
Chapter Three: Competition Landscape by Key Players
Chapter Four: Fuel Card Breakdown Data by Type
Chapter Five: Fuel Card Breakdown Data by Application
Chapter Six: North America
Chapter Seven: Europe
Chapter Eight: Asia-Pacific
Chapter Nine: Latin America
Chapter Ten: Middle East & Africa
Chapter Eleven: Key Players Profiles
11.1 ExxonMobil
11.2 Shell
11.3 SPC
11.4 Caltex
11.5 DBS
11.6 UOB
11.7 OCBC
11.8 Citibank
11.9 Standard Chartered
11.10 ANZ
11.11 HSBC
11.12 POSB
11.13 American Express
11.14 Maybank
Chapter Twelve: Analyst's Viewpoints/Conclusions
Chapter Thirteen: Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
13.3 Author Details
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