January 31, 2023

The European fuel card market size is expected to display impressive growth during the forecast period backed by numerous factors such as thriving government initiatives, presence of key players in the region, and surging adoption of tokenization, among others.

This information is stated by Fortune Business Insights, in its report titled, “European Fuel Cad Market, 2022-2029.”

The governments of various European nations have embraced cutting-edge technologies to offer their citizens improved services. Many private oil and gas firms in Europe provide their clients with fuel cards for a variety of uses, including refuelling, fleet maintenance, toll payments, and real-time data access. Fuel cards are typically used as payment cards for gas, tolls, and vehicle maintenance.

COVID-19 Impacts:

COVID-19 Pandemic Negatively Affected Market due to Strict Lockdown

Since the COVID-19 viral outbreak, the infection has spread to every part of the world, prompting the World Health Organization to declare it an emergency situation affecting public health. Almost every industry in the first half of 2020 was affected by the coronavirus sickness on a global scale.

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Fortune Business Insights™ lists out all the European fuel card market companies that are presently striving to reduce the impact of the Covid-19 pandemic on the market:

  • Fuel Card Services Ltd.
  • A.G. payment solutions
  • Shell
  • Esso
  • DKV
  • BP
  • TOTAL
  • Aral
  • AS 24 (Total Group)
  • OMV
  • Eurowag
  • UNION TANK Eckstein GmbH & Co. KG
  • DKV Euro Service (DKV MOBILITY SERVICES Group)

Report Coverage:

The report presents a systematic study of the market segments and thorough analysis of the market overview. A thoughtful evaluation of the current market trends as well as the future opportunities is offered in the report. Moreover, it presents an exhaustive analysis of the regional insights and how they help to form the European fuel card market growth. The COVID-19 impacts have been discussed in the report to assist investors and business owners with a better understanding of the possible threats present in the market. The report further discusses the key players and their prominent strategies to stay in the dominating position.

Drivers and Restraints:

Adoption of Biometrics and Tokenization to Augur Growth

Fuel card issuers are enticing customers by including attractive perks on their cards, such as credit points and discounted fuel costs. These are the main elements fueling the market’s expansion in Europe. Due to the adoption of biometrics and tokenization in the payment industry, the market has been experiencing growth over the past few years.

The penetration of fuel cards in Europe is also anticipated to rise with the adoption of tokenization. Additionally, businesses that produce fuel cards have begun to integrate the powerful reporting tools and telematics interface. Moreover, owing to the security from online predators, the fuel card manufacturers are focused on security.

Segmentation:

Based on type, the European fuel card market is segregated into branded fuel cards, universal fuel cards, and merchant fuel cards.

By application, the market is segmented into oil, gasoline, fleet maintenance, toll payments, and others.

In term of vehicle type, the market is divided into light weight and heavy weight.

Geographically, the European fuel card market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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European Fuel Card Market Size Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the European Fuel Card market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the European Fuel Card market

The Global European Fuel Card Market Research/Analysis Report Contains Answers to your following questions:

  • Which Manufacturing Technology is used for European Fuel Card ? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This European Fuel Card Market? What are Their Company Profile, Their Product Information, and Contact Information?
  • What Was Global Market Status of European Fuel Card Market? What Was Capacity, Production Value, Cost and PROFIT of European Fuel Card Market?
  • What Is Current Market Status of European Fuel Card Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of European Fuel Card Market Trends by Taking Applications and Types in Consideration?
  • What Are Projections of Global European Fuel Card Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
  • What Is European Fuel Card Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On European Fuel Card Industry? What are Global European Fuel Card Analysis Results? What Are Global European Fuel Card Development Trends?
  • What Are Market Dynamics of European Fuel Card Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for European Fuel Card Industry?

Regional Insights:

U.K. to Dominate in the Region Backed by Substantial Use of Fuel Cards

Due to the early adoption of smart payment technology, the market in Europe has developed. In the anticipated time frame, the U.K. is anticipated to hold a significant European fuel card market share. Due to the growing number of commercial vehicles and technical developments, the U.K. dominates the market. By 2021, new car registration in the region may account for 37% of private registrations and 63% of corporate registrations, according to a study done by Deloitte in 2017. This will lead to a rise in the use of fuel cards in the area. The market for European fuel cards has grown due to the use of safe and dependable fuel cards.

Moreover, in Germany, new vehicle registrations are projected to increase to 2.9 million by 2020. These factors will boost the growth of the European fuel card market.

Competitive Landscape:

Innovative Product Launch Announcement by Key Players to Bolster Market Growth

The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.

Key Industry Development:

  • October 2021: In Mumbai, BP plc had opened a new mobility station. Jio-bp mobility stations were introduced by the business that had partnered with Reliance Industries Limited. As a result, the company’s market position will be strengthened and its customer base will grow.

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