B2B Fuel Card Market Have High Growth But May Foresee Even Higher Value
| Attributes | Details |
| Study Period | 2018-2028 |
| Base Year | 2022 |
| Forecast Period | 2022-2028 |
| Value Unit | (Million) US$ |
| Dominating Type | Universal Fuel Card |
| Dominating Type % Share | 72.81% |
| Scope customization | Get customization when you buy this study. Subject to practicality, the final deliverable may include more portions, a different country, or both. |
- WEX
- Fleetcor Technologies Inc.
- Sunoco
- US Bancorp
- Shell
- Chevron
- Exxon Mobil Corporation
- BP p.l.c.
- Citibank
- Fuelman
Key Market Segmentation:
By Type
- Universal Fuel Card
- Branded Fuel Card
- Merchant-branded
- Oil Fees Payment
- Road Tolls & Taxes
- Fleet Maintenance
- Parking Payment
- Others
- Bearer Card
- Registered Card
- Based on a number of variables, including pricing, product portfolio, and distinctiveness, the market for B2B Fuel Cards is both fiercely competitive and highly fragmented.
- The expansion of the US market is also being aided by an increase in pricing tactics, product options, and new and inventive product introductions. Additionally, manufacturers of B2B Fuel Card products around the world are constantly working to improve the quality of their products, along with their ergonomics and material durability.
- The tracking of fleet expenses and the efficiency of the fleet is made possible by improved data. These B2B Fuel cards are frequently used to pay for costs like fuel, truck repairs, truck maintenance, rental cars for backup vehicles, and other expenses.
- Enhancing data can be any information, including the odometer reading, fuel kind, fuel type, vehicle identification number, etc. For fleet managers, this improved data acquisition enables rich repowering. Situational security has emerged as one of the top issues in the market today. The payments sector is still greatly impacted by tokenization and biometric authentication for increased security.
- Digital payments and cashless transactions are the focus of more projects than ever. Numerous users and business owners from a variety of industries have been drawn to it because of its exceptional speed, convenience, and other advantages.
- One such sector that has seen a significant impact from cashless transactions in recent years is the retail of fuel. The types of fuels and energies available as well as the services offered at the stations are evolving rapidly in the B2B fuel retail industry.
- Fuel cards have changed the outcome to accommodate changing consumer expectations, delivering a more seamless digital experience and covering sales of energy and other fuels. Utilizing fuel cards is a simple way for businesses to save money.
- By keeping an eye on and reining in employee expenditure, it assists in managing the company’s fleet of automobiles. The small business gasoline card gives users access to roughly 90% of the world’s petrol stations.
- Preventing Fuel Card fraud becomes a top priority, and many businesses are the best way to combat this fraud. All service providers are increasingly concerned about misuse, slippage, and fraud.
- There are numerous kinds of controls that can be set up to aid in preventing fraud, slippage, and misuse. Companies are re-exploring the market in new regions to meet these problems, using mergers and acquisitions, expansions, investments, the launch of new solutions, and collaborations as their methods.
- Fuel purchases at petrol stations are made through the Fuel Card sector. The payments and card industries are those that change the fastest due to both technological advancements and shifting consumer preferences.
- The creative methods used by fintech companies, the transformation of the customer experience by mobile devices, the embrace of social media by millennial consumers, and legislative developments that have an impact on how business is conducted are all responsible for these shifts.
- Compared to other product offers in the card sector, innovation in payment systems and card products. In addition, there has been a significant trend toward payment digitization, and the Internet of Things has had an impact.
HTF Market Report
HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited which provides next-generation service for organizations with a deep focus on market intelligence, data analytics, and social intelligence, all uniquely delivered under one roof by skilled professionals. Combining and analyzing acquire lucid and most relevant data which would help in better decision-making. We provide your requirements with speed and cost benefits across the world, and we are able to achieve a more nuanced and comprehensive understanding of the market at the delivery speed and price advantage that today’s business climate demands.
