Global Revenue For Fuel Cards Market Was Valued At $ 635.84 Billion In 2017
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Global revenue for Fuel Cards market was valued at $ 635.84 billion in 2017, and is expected to generate revenue of $ 886.94 billion by end of 2023, growing at a CAGR of 5.70% between 2017 and 2023.
This industry is highly concentrated by some major companies. The top 3 companies accounted for 86.24% of the market in 2017, the top 5 companies accounted for 88.98% of the market in 2017. Of the major players of Fuel Cards, Sinopec Group is the first place in the ranking in 2017. Sinopec Group accounted for 46.11% of the Global Fuel Cards revenue market share in 2017. Other players accounted for 38.46%, 1.66% including China National Petroleum Corporation and ExxonMobil.
In this study, the market for Fuel Cards consumption divided into five geographic regions. In terms of value, North America accounted for 27.63% of global Fuel Cards market share, in the Europe 29.15%, in Asia Pacific 30.86%, in Latin America 9.19% and in Middle East and Africa 3.17%. Among all regions, Asia Pacific is estimated to represent the highest share. In terms of volume, Asia Pacific also occupied the largest global market share and is forecast to grow at a faster pace versus other regions during the forecast period.
On the basis of product type, the Registered Fuel Card segment is projected to account for the largest volume share during the forecast period; this segment was estimated to account for 76.39% volume share in 2017. The Non-Registered Fuel Card category is forecast to increase at CAGR of 3.51% during the forecast period and account for 23.61% volume share in 2017.
In the applications, the Light Weight Vehicle used Fuel Cards is projected to lead in relative market share of the global consumption volume with 92.34% in 2017. The Heavy Weight Vehicle application will increase at the CAGR of 3.50% in the use of Fuel Cards.