Spain Fuel Cards Market for Commercial Fleet, By Card Type (Universal Fuel Cards, Branded Fuel Cards, Merchant Fuel Cards), Features (Mobile Payment & Cardless Transactions, Vehicle Reporting, Real-Time Updates, EMV Compliant, Tokenization, Others), Subscription Type (Registered Card, Bearer Card), Utility (Oil Fee Payment, Toll Fee Payment, Vehicle Parking Fees, Fleet Maintenance, Others), End-User (Fleets, Commercial Road Transport (CRT)) – Industry Trends and Forecast to 2029.
Market Analysis and Size
The demand in the Spain fuel cards market for commercial fleet is mainly driven by the increasing use of cashless modes of payment and end nodes such as the fuel stations. Optimizing transportation costs and retrieving data from the fleets for better management has been driving the demand in the Spanish market. The fuel prices are soaring and fleet managers are looking for ways to reduce the effect of fuel cast by availing of discounts offered by the fuel card companies.
Data Bridge Market Research analyses that the fuel cards market for commercial fleet is expected to reach the value of USD 3,432.08 million by the year 2029, at a CAGR of 5.8% during the forecast period. "Universal fuel cards" accounts for the most prominent peripheral type segment in the respective market as they offer fleets optimized fuel data management and give broad station access. Universal fuel card programs are adopted by many fleets as they offer flexibility, control, and convenience for all business purchasing needs. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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Card Type (Universal Fuel Cards, Branded Fuel Cards, Merchant Fuel Cards), Features (Mobile Payment & Cardless Transactions, Vehicle Reporting, Real-Time Updates, EMV Compliant, Tokenization, Others), Subscription Type (Registered Card, Bearer Card), Utility (Oil Fee Payment, Toll Fee Payment, Vehicle Parking Fees, Fleet Maintenance, Others), End-User (Fleets, Commercial Road Transport (CRT))
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Countries Covered
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Spain
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Market Players Covered
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BP p.l.c. (U.K.), DKV EURO SERVICE GmbH + Co. KG (Germany), MORGAN FUELS (Ireland), W.A.G. payment solutions. a.s. (Czech Republic), WEX Europe Services (U.K.), UNION TANK Eckstein GmbH & Co KG (A Subsidiary of Edenred company) (Netherlands), Cepsa (Spain), Galp Energia (A Subsidiary of Galp) (Portugal), Repsol (Spain), IDS Europe B.V. (Netherlands), C2A (France), Andamur (Spain), AS 24 (A Subsidiary of TotalEnergies company) (France)
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Market Definition
Fleet cards are the type of payment card that allows businesses to manage expenses associated with the vehicles they own and operate. They, also known as fuel cards, act just like charge cards and are provided by major oil and/or specialized credit companies. Businesses provide their personnel with fleet cards for fuel, vehicle repairs, and maintenance. Fleet cards have been used for a long time, and are issued by companies to employees for corporate vehicles. The majority of companies that use fleet cards work in the transport industry. Fleet cards are commonly used by trucking companies as well as those that provide delivery and ridesharing services. Fleet cards tend to be issued by a single company. This means cardholders can only use them at specific locations owned, operated, and franchised by the issuer. Businesses give these cards to their drivers and other employees who can use them instead of personal cards. This allows the card issuer to bill the company directly rather than the employee. This would save the employee time in filing expense reports to reimburse the cost at a later date.
COVID-19 Impact on Fuel Cards Market for Commercial Fleet
The COVID-19 pandemic has significantly impacted the Spain fuel card market for the commercial fleet. So, the fuel card market for the commercial fleet in Spain has resulted in a lower estimated year-on-year growth rate than 2019 because of the fewer activities of the sectors associated with the fuel card market.
The Market Dynamics of the Fuel Cards Market for Commercial Fleet Include:
- Increasing nationwide fuel card networks for managing fuel economy
The global trend towards smart, connected technologies is infiltrating Spanish business and more specifically, the world of fleet transport. Telematics software, that focus on optimizing and converging fleet data to drive efficiency and improve decision-making are becoming more and more prevalent. This increasing use of analytics to optimize the fleet management process has led to the integration and adoption of many technologies, including telematics and fuel card systems, to collect and monitor data that proves insightful for the company's economic management.
- Increase in demand for contactless fuel transactions in region
The onset of the recent pandemic and increasing pace of digitalization has led the rise in the cashless society globally. The people across the globe have moved towards adoption of digital payment methods where users simply tap their cards for making payment, thus avoiding contact.
- Increasing advantages of using a fuel cards for fleet management
The advantages and option offered by the fuel cards in the trucking industry are proliferating as they become more and more popular. Traditionally, the fuel cards were for the benefit of the fleet managers as the services focused on offering control and transparency for the fleet manager. But with the acceleration on the digital mode of operation, the fuel card solutions are being designed to benefit the drivers also.
- Increasing focus on use of fuel cards as the future of fleet payments
There have been dramatic changes in the payment methods adopted by the fleet managers to manage the fuel payments for their fleets travelling domestically and internationally. Futuristic upgrade leading to the rise of electric vehicles, autonomous self-driving vehicles, and even the beginnings of contactless payment technology that turns the vehicle into the payment mechanism itself has been on the rise.
- Availability of discounts on fuel cards due to increasing fuel prices
The increasing pressure on the fossil fuels and the current political crisis in the Europe with Russia in war with Ukraine has made the fossil fuel situation in Europe critical. The fuel prices are on rise, affecting the cost of transportation in the region. Fuel is the second largest operating expense for most trucking companies and can account for more than 20% of the company’s total costs.
- Enhanced data capture for efficient fleet administration
Nowadays, the fuel card or the fleet card provides many features, which include convenient and comprehensive reporting for the fleets of corporates, providing real-time updates to the owners, and enabling them to track all the business-related activities. They also help to eliminate the manual task of submission of receipt and auditing. In some cases, it also helps to give the discounted fuel price.
Restraints/Challenges faced by the Fuel Cards Market for Commercial Fleet
- High interest rates on fuel card and unsettled balances
Fuel cards are a type of credit card which is offered by individual fuel companies or other merchants. The owner of the card can use the fuel card to purchase gas at the appropriately branded gas stations and will then be billed for the amount of gas that was purchased. The cardholder can flexibly choose to pay off the entire balance or can make installment payments, just like a regular credit card.
- Fuel card accounts can only be set up for businesses purposes
Fuel cards are intelligent solutions for any type of vehicle business. Company fuel cards allow drivers to pay for fuel using the fuel card instead of cash or a credit or debit card. This enables companies to save money on fuel costs and reduce the administration time required to process employees claiming back business fuel expenses.
This fuel cards market for commercial fleet report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Fuel Cards Market for Commercial Fleet contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In May 2021, DKV MOBILITY SERVICES HOLDING GmbH + Co. KG announced the expansion of its supply network in Spain by 704 service stations of the Cepsa brand. 44 of the stations connected are suitable for trucks and located along the most important transit routes. The remaining 660 are located in urban areas. Cepsa at these station also enabled DKV customers to pay using their fuel cards for gas
- In July 2021, C2A announced that the Mendy Group has been using the C2A Truck cards to supply its vehicles in Spain with fuel and also uses C2A to recover the Spanish TICPE. The Mendy Group comprises three companies: Transports Ibaremborde, Transports Etchego and Mintegui Logistique. Its director, Patrick Mendy, has imposed the use of the C2A card for cross-border, fueling and for all drivers working in Spain. The C2A card allowed the company to recover EUR 0.05 per litre on the Spanish TICPE owing to the 12% discount which C2A gets
Spain Fuel Cards Market for Commercial Fleet Scope:
The fuel cards market for commercial fleet is segmented on the basis of card type, features, subscription type, utility, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Card Type
- Universal Fuel Cards
- Branded Cards
- Merchant Fuel Cards
On the basis of card type, the Spain fuel cards market for commercial fleet has been segmented into universal fuel cards, branded cards and merchant fuel cards.
Features
- Mobile Payment & Cardless Transactions
- Vehicle Reporting
- Real-Time Updates
- EMV Compliant
- Tokenization
- Others
On the basis of features, the Spain fuel cards market for commercial fleet has been segmented into vehicle reporting, EMV compliant, tokenization, real-time updates, mobile payment & card-less transactions, & others.
Subscription Type
- Registered Card
- Bearer Card
On the basis of subscription type, the Spain fuel cards market for commercial fleet has been segmented into registered card, and bearer card.
Utility
- Oil Fee Payment
- Toll Fee Payment
- Vehicle Parking Fees
- Fleet Maintenance
- Others
On the basis of utility, the Spain fuel cards market for commercial fleet has been segmented into oil fee payment, toll fee payment, vehicle parking fees, fleet maintenance, and others.
End-User
- Fleets
- Commercial Road Transport (CRT)
On the basis of end-user, the Spain fuel cards market for commercial fleet is segmented into commercial road transport (CRT) and fleets.
Fuel Cards Market for Commercial Fleet Regional Analysis/Insights
The fuel cards market for commercial fleet is analyzed and market size insights and trends are provided by country, card type, features, subscription type, utility, and end user as referenced above.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Fuel Cards Market for Commercial Fleet Share Analysis
The fuel cards market for commercial fleet competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to fuel cards market for commercial fleet.
Some of the major players operating in the fuel cards market for commercial fleet are BP p.l.c., DKV EURO SERVICE GmbH + Co. KG, MORGAN FUELS, W.A.G. payment solutions. a.s., WEX Europe Services, UNION TANK Eckstein GmbH & Co KG (A Subsidiary of Edenred company), Cepsa, Galp Energia (A Subsidiary of Galp), Repsol, IDS Europe B.V., C2A, Andamur, AS 24 (A Subsidiary of TotalEnergies company) among others.
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