European Fuel Card Market to Grow at a CAGR of 4.8% During the Period 2024-2032, Driven by Need to Fleet Managers to Control Fleets and Decrease Costs

Fleet managers seek the ability to control their fleets and reduce costs. Managers of international fleets place the ability to manage their vehicles remotely and reduce costs as key priorities when choosing a fuel card. Network coverage is also a key element for international fleets. Advantages afforded by European fuel cards are expected to drive the European fuel card market. For example, fuel cards make it easier for businesses to manage travel expenses, pay toll charges throughout Europe, and submit precise accounts to HMRC.

Solution providers are engaged in developing solutions offering better coverage and more advantages. For example, in 2017, BP launched a new international fuel card. BP announced that over 200,000 BP and Aral fuel card customers across Europe would be able to benefit from the new co-branded international fuel card. The launch would be supported by a refreshed design of each website in Europe and at the point of sale in fuel stations, reminding drivers travelling across Europe that they may refuel with one card at either BP or Aral.

In 2018, BP and Total announced that they would begin to accept each other’s fuel cards across Europe. The agreement would see Total accept use of the BP/Aral fuel card at its network of stations in France, Belgium, Luxembourg, the Netherlands, Poland and Germany. In return, BP/Aral would accept Total’s fuel card at stations in Germany, the UK, Austria, Luxembourg, the Netherlands, Switzerland and Poland.

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In 2021, DKV Mobility and LIQVIS committed to a joint fuel card. LIQVIS customers would benefit from Europe's largest LNG network through cooperation with DKV Mobility; the cooperation would make it easier for customers to decrease their CO2 intensity. According to the new cooperation, the company would replace one of its previous payment methods - the LIQVIS Token - with a joint LIQVIS and DKV Mobility fuel card. The "LIQVIS card" would offer LIQVIS customers access to the company's own LNG network as well as DKV Mobility's comprehensive supply network.

In 2018, FLEETCOR Technologies, Inc. announced that it had extended its European fuel card agreement with Shell. Under the agreement, FLEETCOR would continue to manage, operate and sell the Shell fuel card to small-to-medium enterprises (SMEs) across 11 markets in Europe through 2025.

In 2019, Total and MOL entered into an agreement to enable easier travelling across Europe for their corporate customers. The agreement provided for acceptance of MOL Group Cards by Total in its network of stations in France, Belgium, Luxembourg, The Netherlands and Germany. Also, TOTAL fuel cards would be accepted in MOL’s and Slovnaft’s network of stations in Hungary, Romania, Slovenia and Slovakia.

Key Findings of the Report:

• The European fuel card market is expected to be driven by increased ease in doing business and benefits afforded by European fuel cards.

• Solutions providers are engaged in offering solutions that provide better coverage and a range of additional benefits. These factors are likely to boost market growth.

Market Analysis by Type, Application and Country:

• By type, the market is segmented into Universal Cards, Branded Cards, and Merchant Cards.

• By application, the market is divided into Parking, Fuel Refill, Vehicle Service, Toll Charge, and Others.

• By country, the market is classified into United Kingdom, Germany, France, Italy, and Others.

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