September 13, 2018 - 9:00 AM EDT
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Europe Fuel Card Market to Reach $374.5 Bn by 2025 at 5.0% CAGR, Says Allied Market Research

PORTLAND, Oregon, September 13, 2018 /PRNewswire/ --

Increasing preference for digital transactions, rising adoption of prepaid cards, and technological advancements are expected to create lucrative prospects in the Europe fuel card market.

Allied Market Research published a report, titled, Europe Fuel Card Market by Type (Branded, Universal and Merchant), and Application (Fuel Refill, Parking, Vehicle Service, Toll Charge and Others): Europe Opportunity Analysis and Industry Forecast, 2018-2025. The report provides a detailed analysis of the changing market trends, key drivers & opportunities, investment pockets, competitive intelligence, and estimations for the forecast period. According to the report, the Europe fuel card market garnered $257.2 billion in 2017, and is expected to reach $374.5 billion by 2025, growing 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.

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Universal fuel cards to maintain its lion's share 

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.

Fuel refill application segment to dominate through 2025 

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.

Italy to grow the fastest 

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.

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Leading market players 

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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Global Fuel Card Market - Opportunity Analysis and Industry Forecast, 2017 - 2023 

Europe Debt Collection Software Market - Opportunity Analysis and Industry Forecast, 2018 - 2025

About Us 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Source: PR Newswire (September 13, 2018 - 9:00 AM EDT)

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