Europe Fuel Card Market to Reach $374,592 million by 2025 – Trends and Growth, Segmentation and Key Companies
Europe Fuel Card Market
The market is booming from past years owning to adoption of biometric and tokenization in the payment industry.
PORTLAND, PORTLAND, OR, UNITED STATE, September 6, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Europe Fuel Card Market to Reach $374,592 million by 2025 – Trends and Growth, Segmentation and Key Companies .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The report offers key drivers that propel the growth in the global europe fuel card market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
The Europe fuel card market size was valued at $257,281 million in 2017, and is projected to reach $374,592 million by 2025, registering a CAGR of 5.0% from 2018 to 2025.
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Increasing adoption of prepaid cards, rising preference for digital payments, and growing demand of fuel cards in transportation & logistic industries are the key factors contributing to growth of the industry. However, security issues regarding fuel cards would limit the growth of the market. On the other hand, technological advancements, improved convenience, and growth in prepaid & contactless card industry would create new opportunities in future.
The fuel refill application segment accounted for nearly half of the total market share in 2017 and would remain dominant by 2025. The report also analyzes parking, vehicle service, and toll charge applications. The other applications segment, which comprises fuel cards used to manage expenses related to spare parts, accessories, and others would register the highest CAGR of 7.2% during the forecast period as adoption of fuel card for value-added services would grow significantly in future.
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The nationwide adoption of the universal fuel card enabled this segment to contribute nearly half of the total market revenue in 2017. This segment is expected to maintain its lead during the forecast period. However, in terms of growth rate, the merchant segment would register the fastest CAGR of 6.4% from 2018 to 2025. The branded fuel cards segment will have steady growth during forecast period.
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Italy would register the fastest CAGR of 6.5% from 2018 to 2025, owing to rise in adoption of digital transactions and supportive government policies for fuel transactions. However, the rest of Europe region generated the highest market share of nearly one-third of the European market in 2017. The other countries analyzed in the research are the U.K., Germany, and France among others.
The major market players analyzed in the research include 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. These players have adopted various strategies including new product launches, joint ventures, partnerships, collaborations, mergers & acquisitions, and others to gain a stronghold in the industry.
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Key Benefits:
• The report provides a qualitative and quantitative analysis of the current europe fuel card market trends, forecasts, and market size from 2018 to 2025 to determine new opportunities.
• Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
• Top impacting factors & major investment pockets are highlighted in the research.
• The major countries in each region are analyzed and their revenue contribution is mentioned.
• The market player positioning segment provides an understanding of the current position of the market players active in the europe fuel card industry.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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