Fuel Card Market Segmentation:
Type Segment Analysis
Universal segment in fuel card market is expected to hold more than 61.5% revenue share by 2035. The segment's tremendous growth rate can be driven by increasing globalization credited to users' access to a large network of gas stations. European Commission 2024 published a report predicting that globalization surpassed 54.7% from 50.6% between 2020 and 2023. Additionally, a large network of gas stations, including independent retailers and several brands, accept these cards. Moreover, certain fuel retailers or oil companies issue branded fuel cards, usually only accepted at their branded fuel stations.
Application Segment Analysis
Fuel refill segment is poised to hold fuel card market share of over 65.2% by the end of 2035, impacting the landscape of fuel card revenue share. This is due to its usage in fuel purchases and vehicle charges by several businesses, including haulage, courier services, transport, relying on motor vehicles for their everyday operations. The International Energy Agency (IEA) reported in 2023 that the global oil demand is expected to expand by 6% from 2022 to 2028, valued at about 105 mb/d per day (million barrels per day).
Our in-depth analysis of the global fuel card market includes the following segments:
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