Fuel Cards in Ireland 2021
The fuel cards market in Ireland was valued at $1,211.3 million in 2020 and is projected to grow at a CAGR of over 3% between the forecast period 2021-2024. The proportion of fuel sold through fuel cards has recorded continuous growth, increasing from 27% in 2015 to 30.5% in 2020. The Fleet card and CRT card volumes have also increased continuously during the forecast period.
Ireland has recorded an upward trend in the growth of fuel cards since 2015. The total number of fuel cards in circulation grew by more than 10%, from 2015 to 2019. Year-on-year growth was impacted by the pandemic and grew in 2020 by more than 1%, with a little more than 2,500 new cards issued during the year. Additionally, the proportion of active fuel cards witnessed a fall, 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 were affected by COVID-19, CRT vehicles had comparatively more business as they were still required to transport essential supplies. Despite of the pandemic, fleet card volumes were expected to increase in 2020, owing to the increase in total fuel card volumes.
Ireland fuel cards market overview
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What are the fuel cards market dynamics in Ireland?
The value of the fuel card market is expected to rise due to the increase in fuel card volume and average fuel prices. The rising fuel prices and growing volumes of fuel sold through fuel cards will drive the growth of fuel card market value.
In the forecast period, all new cars are expected to become compliant with more stringent emission targets set by the government. This will affect the annual sales of diesel vehicles in Ireland and will positively impact fuel sales value, as vehicles will switch to gasoline, which is a costlier fuel option. Investing in services such as washrooms, overnight parking, free Wi-Fi, driver meal deals, and driver loyalty schemes will encourage drivers to use a specific card. This will increase card volumes over the next five years.
What are the key channels in Ireland fuel cards market?
Key channels in the Ireland fuel cards market are Fleet card and CRT card. The fuel sold from fleet cards saw significant growth between 2015-2019. Despite of the pandemic, fleet card volumes are expected to increase in 2020 by more than 4%, owing to the increase in total fuel card volumes.
The rising levels of international transport and a need by logistics companies to use the additional services offered by fuel card operators have contributed to the increase in fuel sold to CRT vehicles. Fuel sold through CRT cards has seen continuous growth from 2017 to 2020. CRT fuel card volumes are expected to see a similar trend, growing by more than 6% between 2020-2024.
Ireland fuel cards market, by channel
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Who are the key players in the Ireland’s fuel card market?
The four of the top five fuel card operators in Ireland have increased their market shares in 2020, as smaller domestic fleets switched to prominent card operators in order to benefit from an international card acceptance network and a wider range of services. In 2020, the top three fuel card operators are found to be Topaz followed by DCI, and Texaco. Topaz remained the fuel card market leader in 2020, with its market share increasing by 0.8 percentage points from 2019. Topaz and DCI are the largest fuel card operators in Ireland, accounting for more than 44% of the market. Commercial CRT fleets are drawn to their large domestic card acceptance networks and the range of services aimed at CRT vehicles. Topaz and DCI have significant appeal in this large CRT market thanks to their offering of services such as VAT reclaim, online management, toll payments, and international breakdown cover.
Ireland fuel cards market, by key players
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Market report scope
| Market size (Year – 2020) | $1,211.3 million |
| Growth rate – By Value | CAGR of >3% between 2021-2024 |
| Base year for estimation | 2020 |
| Forecast period | 2021-2024 |
| Segmentation by Channel | Fleet card and CRT card |
| Key players | Topaz, DCI, Texaco, Maxol, TOP, Campus, EMO, UTA and DKV |
Reasons to Buy
- Plan effective market entry strategies by uncovering current and future volumes and values of the Irish 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.
Key Players
Table of Contents
Frequently Asked Questions
The fuel cards market in Ireland was valued at $1,211.3 million in 2020.
The fuel cards market in Ireland is expected to grow at a compound annual growth rate of more than 3% during the forecast period 2021-2024.
Fleet card and CRT card are the major channels in Ireland’s fuel cards market.
Topaz, DCI, Texaco, Maxol, TOP, Campus, EMO, UTA, and DKV are the key players in Ireland’s fuel cards market.
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