The Market Statsville Group (MSG) publishes the new report on the "Fuel Card Market by Type (Branded, Universal, Merchant), by Application (Fuel Refill, Parking, Vehicle Service, Toll Charge, Others), By Region – Global Share and Forecast to 2033

According to the Market Statsville Group (MSG), the global fuel card market size is expected to grow from USD 981.18 million in 2022 to USD 3,912.86 million by 2033, at a CAGR of 13.4% from 2023 to 2033.

The fuel card market consists of sales of fuel card services by entities (organizations, sole traders, and partnerships). Fuel Cards give several benefits to fleet vendors by collecting low-level data on vehicle miles, gallons of fuel consumed, and the need for vehicle service. To boost fleet management productivity, fuel card service providers have begun to include telematics interfaces and extensive reporting capabilities as regular product offerings. Moreover, Fuel Cards come in a variety of forms, including branded Fuel Cards, universal Fuel Cards, and merchant cards. Merchant Fuel Cards are expected to expand at the fastest pace over the projection period. Moreover, a lack of security measures stifles industry expansion. Moreover, the integration of telematics with Fuel Cards, as well as an increase in demand for Fuel Cards from emerging countries, are likely to present attractive potential for the market.

Global Fuel Card Market Segmentation

The overall fuel card market has been segmented into type, application, and region.

• By Type (Branded, Universal, Merchant)
• By Application (Fuel Refill, Parking, Vehicle Service, Toll Charge, Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Merchant segment is at the highest CAGR during the forecast period

Merchant segment is expected to grow at the highest CAGR during the forthcoming period. For small enterprises, merchant cards are the ideal fuel cards. Some petroleum providers, including Shell, BP, and ExxonMobil, provide branded fuel cards. To expand their consumer base, these businesses are increasingly turning to third-party cards. Moreover, the ability to take credit and debit cards is one of the most crucial advantages that a merchant card may provide. Credit and debit cards continue to gain popularity among customers, becoming the new 'standard.' Companies that value the customer experience frequently discover that removing any friction in the purchasing or payment acceptance procedures may help them gain new customers and boost cash flow.

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The Asia Pacific to account for the highest CAGR during the forecast period

Over the forecast period, the Asia Pacific market is expected to grow rapidly due to the rise in adoption of prepaid and contactless technologies in the region. India and China are the fastest-growing economies, where demand for fuel cards is expected to surge in the next few years.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the fuel card market. It also consists of the profiles of leading companies such as Shell Group, BP plc., Total Fuel Card WEX Inc., Caltex, Puma Energy, Engen Petroleum Ltd., Absa Bank Limited, Standard Bank, First National Bank (FNB), Company 11, Company 12, Company 13, Company 14 and Company 15. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.

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