Fuel Cards MarketPosted by Mayuri Kathade. on January 1st, 2021 Global fuel cards market was valued US$ XX Mn in 2019 and is expected to reach US$ XXMn by 2026, at a CAGR of XX % during a forecast period. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region. A card specifically designed for the payment at the fuel stations are knownas fuel cards or fleet cards. The card is like in appearance such as 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. Developing trend of digitization and Internet of Things are the factors that drive the demand of fuel cards. 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. Increasing consumer’s inclination towards usage of mobile payments system and data breaches are limiting the growth of the fuel cards market. An upsurge in usage of cashless payment methods, growth associated with prepaid cards, an increasing number of fleet owners, small and medium enterprises are expected to boosting the fuel cards market growth during the forecast period. Furthermore, vehicle service segment is expected to witness huge adoption of fuel cards across various regions owing to a surge in a number of fleets globally that use cards to pay for vehicle maintenance and expenditures at the option of the fleet owner. The availability of real-time data enables fleet managers and drivers to receive regular updates on fuel prices at locations throughout the country this helps buyers identify outlets that offer the lowest possible fuel prices. Loyalty programs offered by most fuel card providers allow drivers to accrue points while using fuel cards, which provides additional benefits and savings. The business fuel cards segment is expected to witness the maximum amount of share in the global fuel card market during the forecast period. The growth is mainly attributed to the features offered by fuel cards such as simplification of administrative processes by offering real-time updates and cashless convenience. By the type of fleet, the global fuel card market is divided into over the road, marine, aviation, and commercial fleet. The road is foreseen to increase the adoption of fuel card during the forecast period. Over the road, fleets are projected to bank on the need to prevent unlicensed purchases, track drivers’ spending, and control fleet expenditures to dominate the global fuel card market. Geographically, Europe is expected to lead the global fuel card market followed by North America. Advancement in the automobile sector and developments in smart chip technology are increasing the demand for the fuel card in this region. Some of the major key players are focusing on offering value-added services such as payment of vehicle repairs and other expenses to reinforce their product demand. They are also concentrating to provide enhanced security to avoid any fraud or misuse of payment transactions. The growing rate of cashless transactions and improvements in the regulatory environment are booming the fuel card market in this region. Key profiled and analyzed in the reports includes in the global fuel cards market such as WEX Inc., Esso ,Aral , Eurowag , Auchan ,FLEETCOR ,Chevron & Texaco Business ,U.S. Bancorp Fuel card ,British Petroleum (BP), Comdata, Valero, Royal Dutch Shell, ExxonMobil, British Petroleum, FLEETCOR Technologies, Inc., U.S. Bancorp, WEX Inc., OiLibya, Trafigura (Puma Energy), Engen Limited and First National Bank. The report gives the clear representation of current market scenario of global fuel cards market, which includes projected market size in terms of value and volume, pestle analysis, porter’s analysis factors in the market. Global Fuel Cards Market, By Type • Business Fuel Cards • Supermarket • Fuel Refill • North America • WEX Inc. For More Information Visit @:https://www.maximizemarketresearch.com/market-report/global-fuel-cards-market/22848/#details 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: Lumawant Godage Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD. Email: sales@maximizemarketresearch.com Address: Pune, Maharashtra 411051, India. 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