Fuel Card Market Analysis

Type (Universal, Branded)

Universal segment in the fuel card market is set to reach USD 1.6 trillion by the end of 2036. 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 (Fuel Refill, Vehicle Service, Parking, Toll Charge)

Fuel refill segment is poised to hold fuel card market share of over 65.2% by the end of 2036, 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:

Type	Branded Universal Merchant
Application	Fuel Refill Vehicle Service Parking Toll Charge
Technology	Smart Cards Standard Cards
Vehicle	Commercial Individual

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of the fuel card market was over USD 616.2 billion.

The market size of the fuel card market is projected to cross USD 4.1 trillion by the end of 2036 expanding at a CAGR of 16.9% during the forecast period i.e., between 2024-2036.

The major players in the market are BP, Absa Group Limited, FLEETCOR, Chevron, ENGE, China Sinopec, U.S. Bancorp, ARCO, Allstar, and others.

In terms of type, the universal segment is anticipated to garner the largest revenue share of 58.1% by 2036 and display tremendous growth opportunities during 2024-2036.

The market in the North American region is projected to hold the largest revenue share of 46.1% by the end of 2036 and provide more business opportunities in the future.

Fuel Card Market Analysis