Fuel Cards Market Updates

Global Fuel Cards Market size was valued at USD 756.1 Billion in 2023 and is poised to grow from USD 827.93 Billion in 2024 to USD 1711.22 Billion by 2032, growing at a CAGR of 9.5% during the forecast period (2025-2032).

Fuel card providers should focus on collaborations with fuel companies to expand their business reach. Offering fuel cards that can be used at multiple stations for various applications remains the prime focus of fuel card companies. Contactless fuel cards are estimated to become the standard over the coming years as per this global fuel cards market analysis. 'Shell', 'Chevron', 'ENGEN', 'China Sinopec', 'U.S. Bancorp', 'ARCO', 'Allstar', 'PetroChina', 'Caltex', 'PUMA ENERGY', 'FleetCor Technologies', 'OILIBYA', 'Total', 'EonMobil', 'UTA', 'Radius Payment Solutions Ltd', 'DKV EURO SERVICE GmbH + Co. KG', 'BP', 'WEX'

The global commercial vehicle industry is expanding rapidly due to e-commerce growth, globalization, and urban development. Fuel cards are crucial tools for commercial fleet managers, offering control over driver fuel purchases, setting usage limits, and enabling efficient route planning through fuel station partnerships. Scaling of commercial transportation operations is also estimated to boost the global fuel cards market outlook in the future.

Mobile-First and Contactless Fuel Card Solutions: With the digital shift in B2B transactions, fuel card providers are launching mobile-first platforms and virtual fuel cards. Mobile apps now allow drivers to locate partner fuel stations, access e-receipts, and receive alerts, while fleet managers monitor usage remotely. Contactless and NFC-enabled fuel cards are gaining popularity due to speed and hygiene considerations. Emphasis on fuel card use simplification is slated to make this a key fuel cards market trend in the long run.

Why are Fuel Card Companies Investing Actively in North America?