Fuel Cards Market Size & Outlook, 2025-2033

Fuel Cards Market Overview

The global fuel cards market size was valued at USD 897.24 billion in 2024 and is projected to grow from USD 999.53 billion in 2025 to reach USD 2370.69 billion by 2033, growing at a CAGR of 11.4% during the forecast period (2025–2033). The market is driven by the increasing adoption of digital payment solutions and loyalty programs, enhancing the convenience and security of cashless fuel transactions.

Key Market Indicators

• Europe dominated the fuel cards industry and accounted for a 31% share in 2024.
• Based on card type, the universal segment held the largest share of approximately 55% of the fuel cards market in 2024 and dominates because it offers comprehensive expense management tools and broad usability, allowing users to monitor and control fuel spending across various locations and services.
• Based on application, the fuel refill segment dominates because fuel cards are primarily used to manage and optimize fuel expenses, offering convenience, digital tracking, and fraud prevention for vehicle owners.
• Based on end user, the sole traders segment dominates the market due to individual business owners relying on fuel cards to efficiently track and manage vehicle expenses without the complexity of larger fleet systems, helping them save time and reduce administrative burden.

Market Size & Forecast

• 2024 Market Size: USD 897.24 billion
• 2033 Projected Market Size: USD 2370.69 billion
• CAGR (2025–2033): 11.4%
• Largest market in 2024: Europe
• Fastest-growing region: Asia-Pacific

Fuel cards are widely used by companies with fleets of vehicles to manage fuel expenses efficiently. They provide fleet managers with tools to monitor fuel consumption, track vehicle locations, and control spending, thereby optimizing operational costs and improving fleet management practices.

Fuel cards, also referred to as fleet cards, are payment cards used to manage various vehicle expenses, including upkeep, fueling, servicing, and other costs. Major oil companies and other specialized credit card providers offer fuel cards to give their clients and staff additional benefits and raise their market value. Transportation companies primarily use fuel cards to provide delivery and ride-sharing services. Fleet cards stand out because of the simple and thorough reporting that comes along with their use. Fleet cards allow fleet owners and managers to set purchase controls and receive real-time information, keeping them informed of all business-related spending.

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Fuel Cards Market Drivers

Rising Adoption of Digital Transaction Solutions

Mobile frictionless payments are becoming increasingly popular, which is altering consumer behavior. Customers have come to anticipate a consistent experience across all points of contact during the shopping process as the cards and payments industry continues to embrace digitization and provide new creative features. For this reason, the need for fuel purchases that do not involve cash has been growing. These cards not only make it easier to make purchases without carrying cash, but they also offer added security and savings.

In addition, loyalty programs have been a driving force behind the rise in popularity of fuel cards, which allow for cashless fuel purchases. Gasoline card issuers make these reward programs available via partnerships with loyalty point aggregators and loyalty marketing platforms. As a result, the rising popularity of paperless gas station transactions is a significant factor in expanding the worldwide fuel card market.

Enhanced Data Capture Facilitates Effective Fleet Management

Fleet drivers often use fuel cards because of enhanced capabilities, including fleet expense tracking and management. It allows drivers to monitor their vehicles' mileage in real-time, which promotes market expansion. Additionally, fleet operators worldwide use fuel cards to control various operational costs, such as truck repairs, truck maintenance, truck cleaning, replacement of vehicle parts, rental of vehicles, and others. The market is also driven by the ability of fuel cards to maintain various information, including fuel grades, odometer readings, fuel products, fuel quantities, driver, vehicle identification numbers, and tax information. It also gives the fleet manager transactional information, such as the location, time, cost, and date. This is considered a key element in the market growth for fuel cards over the anticipated period.

Market Restraint

Insufficient Security Measures

The market for fuel cards is significantly constrained by the rising risk of being compromised by unauthorized access. Due to fraudulent transactions, card misuse, fuel card skimming, and other issues, fleet operators suffer significant losses yearly. Fuel cards make it simple for fleet managers and automobile owners to keep track of costs associated with their vehicles, including fuel costs and maintenance services at gas pumps and service facilities. However, fuel cards are also vulnerable to abuse and fraud like other payment cards. As a result, there are problems with data security and privacy in the gasoline card sector, which tend to affect the profitability of vehicle fleet managers in particular.

Market Opportunity

Growing Demand from Developing Nations and Technological Advancements

The market for cutting-edge goods and payment solutions is expanding due to unmet demands and a rise in demand for better transactional solutions in countries like China, Japan, and Australia. In addition, the fuel card market has also seen a tremendous shift in recent years. This can be partially explained by the growing use of digitalization and the Internet of Things (IoT). The companies selling gas cards are improving the customer experience through analytics-based personalization. These competitors have used mobile apps and online channels to increase customer service and attract new clients. Additionally, fuel card providers have been focusing on integrating telematics interfaces and better reporting tools based on the collected data to increase fleet management's effectiveness.

Regional Analysis

Europe held the largest share of the fuel cards industry, accounting for 31%. It is the most significant global fuel card market shareholder and is expected to grow at a CAGR of 13.2% during the forecast period. The fuel card market is analyzed in the UK, France, Germany, and the rest of Europe, depending on the type and application. Some key factors influencing the market's expansion in Europe include an increase in prepaid cards, increased acceptance of fuel cards, and the availability of advanced products with improved security. The region has also benefited from adopting fuel cards due to the demand for fuel-saving initiatives and the need for better transport management.

Asia-Pacific Market Trends

Asia-Pacific is expected to grow at a CAGR of 16.2% during the forecast period. The Asia-Pacific fuel card market analysis includes China, Japan, India, and other nations. Due to the increased use of branded fuel cards, technological advancements, and untapped markets in nations like China, India, and Japan, these countries exhibit a higher adoption rate. The Asia-Pacific fuel card market is highly advantageous due to an increase in the number of smart transportation options in the area and the technological integration of prepaid cards. Leading companies like WEX Inc., Engen, ExxonMobil, First National Bank, FleetCor, Oilibya, Puma Energy, and Royal Dutch Shell concentrate on the Asia-Pacific region to grow their businesses because it is predicted that fleet card solutions will experience significant growth in this region.

North America Market Trends

North America is expected to grow significantly over the forecast period. It is one of the largest markets for fuel cards because of the rising number of cutting-edge strategies introduced by Fintech players, the early adoption of fuel cards by end-users, and the significant presence of industry players. Implementing fuel cards allows business owners to learn important information about their fleet and enjoy cost-saving advantages, which increases demand for fuel cards across all industry verticals to manage drivers and fleets in this region.

LAMEA Market Trends

The LAMEA fuel card market is anticipated to be driven by increased economic growth and expanded opportunities for market penetration. Fuel card market growth is driven by rising branded fuel card adoption and rising prepaid card penetration among end users keen to maximize fuel savings. Due to the advancement of transportation and smart logistics, which will further fuel market growth, this region is anticipated to experience a favorable growth rate during the forecast period. Major players are also concentrating on the development of the market in this area.

Card Type

The universal segment is the highest contributor to the market during the forecast period. In order to efficiently conduct business processes related to transportation, universal fuel cards make the payment of fleet expenses possible. Millions of people use these fuel cards more frequently to monitor their fuel usage. Additionally, the features of this fuel card, which include expense reports, an instant accounting function, and other effective money-saving tools, assist individuals in managing and controlling their fuel expenses. It provides added services, including a telematics interface service and reports on purchasing activity.

The fuel card ecosystem includes branded cards, which a company issues specifically for a given brand. These branded fuel cards can only be used at places connected to the brand. They encourage utilizing their branded fuel card in private enterprises and government agencies by improving security capabilities.

Applications Insights

The fuel refill segment owns a significant market share during the forecast period. All types of cards used to purchase fuel are included in the segment for fuel refills. End-users use fuel cards to optimize costs while managing their fuel expenses. Additionally, several transport vehicle owners use fuel cards to identify and minimize the number of driver fraud activities. Further, the use of fuel cards is growing for fuel refills due to the variety of features they offer to vehicle owners, including convenient fuel bill payment, receipt of digital invoices, and tracking of fuel purchases.

Fuel cards are used to track various costs associated with vehicle maintenance and are a part of the vehicle service segment. Fuel cards assist in paying the bill for different vehicle maintenance procedures, including changing the engine oil, replacing the oil filter, inspecting the brakes, testing the batteries, and others. The market is also driven by an increase in the use of fuel cards among consumers due to the numerous promotions and advantages offered by fuel card providers.

End User Insights

Sole traders, often individual business owners or freelancers, use fuel cards to manage their vehicle-related expenses efficiently. SMEs (Small to Medium-sized Enterprises) incorporate these cards to streamline fleet management, achieve cost savings, and benefit from detailed expense reports. Meanwhile, larger enterprises employ fuel cards to oversee extensive fleets across vast regions, leveraging the advantages of bulk purchasing, standardized reporting, and enhanced expenditure control. Each segment, from solo professionals to large corporations, harnesses fuel cards to optimize fuel-related operations.

List of key players in Fuel Cards Market

1. Exxon Mobil Corporation (ExxonMobil)
2. Royal Dutch Shell plc (Shell)
3. BP plc (British Petroleum)
4. WEX Inc.
5. TotalEnergies SE
6. FLEETCOR Technologies, Inc.
7. DKV Euro Service
8. TransConnect Services
9. Puma Energy
10. Repsol
11. ENI (Ente Nazionale Idrocarburi)
12. OLA Energy
13. Caltex
14. PetroChina International (Singapore) Pte. Ltd.
15. Edenred

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Recent Developments

• In August 2025, ITS Logistics launched a fuel card paired with same-day payment (“QuickPay”) and a suite of financial tools. This helps carriers with savings, better cash flow, and discounts at major fuel stations.
• In September 2025, Right Fuel Card, which is a part of Edenred, launched Edenred Black. This is a premium card combining access to both BP & Shell stations on one card, fixed weekly pricing, and includes a loyalty program.
• In July 2025, Corpay introduced a new fleet card product called Corpay One Select Mixed Fleet Card. It offers fuel discounts at over 40,000 Fuelman Discount Network locations. It also includes features like real-time spending/expense monitoring, mobile receipt capture, and automated purchase approvals.
• In July 2025, Car IQ and BlueArrow launched a digital payments solution that replaces physical fuel cards by using in-vehicle technology and telematics. The system authenticates payments directly from the vehicle, logs receipts automatically, and lets drivers activate pumps through a mobile app, offering fleets a more seamless and secure way to manage fuel expenses.
• In July 2025, BP and WEX launched the Earnify fleet fuel-card program. It allows fleet drivers to use one card for fuel and vehicle-related services (parts, tolls, etc.), with fuel rebates across over 8,000 stations in the BP network.
• In March 2025, Fleet Fueling introduced a subscription model fuel card designed for small to mid-sized fleet operators. It offers flat-rate subscription pricing rather than volume-based eligibility, along with simplified billing and enhanced reporting.
• In January 2025, the Mileage+ CNG Fuel Card was launched in India to support fleets running on compressed natural gas. The card allows cashless payments, real-time tracking, and better fleet management while offering savings of $0.04 per 2.2 pounds of CNG.
• In January 2025, AG&P Pratham-THINK Gas, in partnership with Zaggle, launched a fuel card. Key features include cashless payments at CNG outlets, real-time tracking & analytics for fleets, multiple cards under one account, and cashback redeemable for fuel.