Europe Fuel Cards Market
Europe Fuel Cards Market was valued US$ 250.20 Mn in 2017 and is expected to reach US $ 400.30 Mn by 2026, at a CAGR of 6.05 % during a forecast period.
Europe Fuel Cards Market, by TypeA fuel card is a reloadable prepaid card that is used for making payment of expenses related to a vehicle, such as fuel filling, vehicle servicing, vehicle maintenance, and others. These cards offer benefits such as comprehensive reporting for the fleet of corporates that provide real-time expense track of these fleets. Implementation of fuel cards removes manual tasks such as auditing and submitting receipts while making the corporate with promotional fuel price offers.
A card specifically designed for the payment at the fuel stations are known as fuel cards or fleet cards. The card is like in appearance such as a credit card. The cards eliminate the manual task of submission of receipts, inspecting and the issuance of checks. Smart chip technology is the largest development in the fuel card industry in current years.
Increasing prepaid and contactless card industry and growing technological innovations in the fuel card along with the benefits and suitability offered by fuel cards are expected to boom Europe fuel card market. The factors such as growing value-added services that allow fleet managers to minimalize fake claims and improve fuel management is expected to boosting the fuel cell market growth. Growing associations and collaborations across some of the key players, especially in the developing countries are contributing to the market expansion.
Fleet operators face a huge amount of problems in every year, owing to fuel card skimming, fake transactions, misuse of cards, and others. In addition, fuel card duplicating has been one of the most-claimed fraud reported by of fleet managers. The rising number of fuel frauds has formed concerns for businesses and acts as a major restraint for the Europe fuel card market.
The universal fuel card segment is expected to hold a significant share in the Europe fuel market. This growth can be attributed to nationwide adoption of the universal fuel card. Furthermore, the merchant fuel card segment is expected to share large growth in the Europe fuel card market, owing to an increasing trend of adoption of merchant fuel cards. These cards are supported by partnerships between fuel merchants and fuel card providers.
Fuel cards are used to prevent theft and they help fleet managers to reduce unaccounted spending. A fuel card is retrieved using the secured pin and driver is grateful to show his identity proof while using. It helps the prevention of theft in employees and is expected to drive the fuel card industry during the forecast period.
Europe is estimated a significant growth in the global fuel card market. This growth can be accredited to increasing usage of prepaid and contactless payments in the current years. MasterCard experienced a huge amount of growth by the owing to contactless payments on Maestro and MasterCard networks in Europe. Additionally, the U.K. is estimated to lead Europe fuel card market owing to increasing contactless card payment. There are more than 110 million contactless cards have been issued in a recent year.
By the growing trend of contactless cards across Europe, several fuel card key players are focusing to provide contactless fuel cards, which are more convenient and secure services. Contactless smart fuel card, which integrates the RFID chip and personal PIN number. This rising trend of usage of contactless fuel cards is expected to form significant opportunities for the Europe fuel card market during the forecast period.
Key profiled and analysed in the report
BP plc, Exxon Mobil Corporation, Engen Petroleum Ltd., FleetCor Technologies, Inc., FirstRand Bank Limited, Puma Energy, Libya Oil Holdings Ltd., U.S. Bancorp, Royal Dutch Shell plc, and WEX, Inc. FleetCor Technologies, Inc. ,Libya Oil Holdings Ltd. ,Puma Energy ,Royal Dutch Shell plc and U.S. Bancorp ,WEX, Inc.,UK Fuels Limited,W.A.G. Payment Solutions, a.s, Aral, Total.
Scope of the report for Europe Fuel Cards Market
Europe Fuel Cards Market, by Type
• Branded
• Universal
• Merchant
Europe Fuel Cards Market, by Application
• Fuel Refill
• Parking
• Vehicle Service
• Toll Charge
• Others
Europe Fuel Cards Market, by Country
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe.
Key Players Operating in Europe Fuel Cards Market
• BP plc
• Exxon Mobil Corporation
• Engen Petroleum Ltd.
• FleetCor Technologies, Inc.
• FirstRand Bank Limited
• Puma Energy
• Libya Oil Holdings Ltd.
• U.S. Bancorp
• Royal Dutch Shell plc
• WEX, Inc.
• FleetCor Technologies, Inc.
• Libya Oil Holdings Ltd.
• Puma Energy
• U.S. Bancorp
• WEX, Inc.
• UK Fuels Limited
• W.A.G. Payment Solutions, a.s
• Aral
• Total
For More Information Visit @: https://www.maximizemarketresearch.com/market-report/europe-fuel-cards-market/22991
This Report Is Submitted By :Maximize Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Contact info:
Name: LumawantGodage
Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD.
Email: sales@maximizemarketresearch.com
Address:Pune, Maharashtra 411051, India.
Contact: +919607195908