Estonia Fuel Cards Market Size and Forecast to 2024 – Analysing Markets, Channels, and Key Players
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The fuel cards market in Estonia was valued at EUR439.70 million in 2020 and is projected to grow at a CAGR of over 8% between the forecast period 2021-2024. By channel, CRT card is the largest segment in Estonia’s fuel card market followed by fleet card. Out of the total active cards in the market, over 50% were held by CRT vehicles. In future years, growing levels of international trade across Europe will mean traditionally domestic fleets will need to use fuel cards in neighboring countries. This is likely to drive the market for fuel cards in Estonia.
Overview of fuel cards market in Estonia
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What are the fuel cards market dynamics in Estonia?
In Estonia, the proportion of active fuel cards registered a fall in 2020 from 2019, as fleet and CRT owners were forced to reduce the size of their fleets due to a lack of business. Although both international and domestic trade was affected by COVID-19, CRT vehicles had comparatively more business as they were still required to transport essential supplies. The majority of CRT vehicles in Estonia have at least two fuel cards, as companies ensure their drivers have maximum service station network coverage along their varied transport routes.
In future years, growing levels of international trade across Europe will mean traditionally domestic fleets will need to use fuel cards in neighboring countries. With fleets starting to invest in EVs and the availability of EV charging stations in Western European countries increasing, card operators need to offer alternative fuel services in the coming years. Creating partnerships with recharging network operators across Europe and investing in charging points at service stations will ensure that card operators meet the changing needs of fleets over the next few years and beyond.
What are the key channels in Estonia’s fuel cards market?
Key channels in Estonia’s fuel cards market are fleet card and CRT card. Competition is high in the CRT card market in Estonia, with many card operators offering similar services. This can make it difficult to distinguish one card offering from another, which results in many CRT vehicles having multiple fuel cards. It is therefore vital for fuel card operators to appeal to drivers, as well as fleet managers, in order to ensure that their card is preferred over competitor offerings.
Fuel cards market in Estonia, by channel
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Who are the key players in Estonia’s fuel card market?
In 2020, the top three fuel card operators made up over 65% of fuel card volumes. For fuel card categories in 2020, Neste remains the largest fleet card operator while Circle K remains the largest CRT card operator. Other major players in the market include Alexela Oil and Saare Kutus.
Fuel cards market in Estonia, by key players
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Market report scope
Market size (Year – 2020) | EUR439.70 million |
Growth rate – By Value | CAGR of >8% from 2021 to 2024 |
Base year for estimation | 2020 |
Forecast period | 2021-2024 |
Segmentation by Channel | Fleet card and CRT card |
Key players | Olerex, Circle K, Neste, Alexela Oil, Saare Kutus |
Reasons to Buy
- Plan effective market entry strategies by uncovering current and future volumes and values of the Estonian fuel card market.
- Assess whether you should increase network acceptance of your card and identify potential new merchants by uncovering the position of competitors.
- Whether you are an issuer, a processor, a leasing company, or a fuel retailer, make informed pitches to partners by understanding their business.
- Enhance fuel sales at your service stations by identifying which fuel cards you should accept based on their market shares and network acceptance.
Circle K
Neste
Alexela Oil
Saare Kütus
Table of Contents
Frequently asked questions
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What is Estonia’s fuel cards market size in 2020?
The fuel cards market in Estonia is valued at EUR439.70 million in 2020.
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What is Estonia’s fuel cards market growth rate?
The fuel cards market in Estonia is expected to grow at a compound annual growth rate of more than 8% during the forecast period 2021-2024.
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What are the key channels in Estonia’s fuel cards market?
Fleet cards and CRT cards are the major channels in Estonia’s fuel cards market.
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Who are the key players in Estonia’s fuel cards market?
Olerex, Circle K, Neste are the key players in Estonia’s fuel cards market.
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