Portugal Fuel Cards Market Size, Share, Key Players, Fuel Cards Value and Volume, and Forecast, 2020-2024
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The fuel card volume in Portugal was of 1,678.4 million liters in 2020. The market is projected to grow at a CAGR of more than 6% during the forecast period. Although many fleets will not use fuel cards due to the limited acceptance networks offered by card operators, heightened competition in Southern Europe will increase their demand towards 2024.
The Portugal fuel cards market report is invaluable for issuers of fleet cards, fuel retailers, fleet leasing companies, and other suppliers to the sector. Based on research with issuers and fuel retailers it provides commercial (B2B) fuel card volume (split by fleet and CRT), value and market share forecasts to 2024, key data on independent and oil company card issuers and an analysis of fuel card competition in Portugal.
Overview of the Portugal fuel cards market
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What are the market dynamics in the Portugal fuel cards market?
The majority of CRT vehicles in Portugal have at least one fuel card, as companies ensure their drivers have maximum service station network coverage along their varied transport routes. In 2020–2024, most new fuel cards in Portugal will be issued to small domestic fleets as they will take on new business in foreign markets.
What are the major channels in the Portugal fuel cards market?
The key channels in the Portugal fuel cards market are fleet cards and CRT cards. Fleet card volumes plummeted in 2020 due to the impact of COVID-19 but the situation will improve from Q2 2022 with the recovery of the pandemic. To reduce costs in order to remain competitive, domestic fleets in Portugal are increasingly opting for fuel cards. Furthermore, as card operators introduce lower volume limits to target this growing market segment, there will likely be an influx of small and medium-sized fleets in the fuel card market. There are high levels of competition in Portugal’s CRT card market, with many card operators offering similar services. Thus, it can be difficult to distinguish one card offering from another. 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 competitors’ offerings.
Portugal fuel cards market, by channel
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Who are the major card operators in the Portugal fuel cards market?
The major card operators in the Portugal fuel cards market are Galp, Repsol, BP, and Cepsa. Galp, Repsol, and BP make up more than 89% of fuel card volumes. In 2020, Galp remained the market leader, even after its market share declined by 0.3 percentage points. Its large site acceptance network appealed to domestic and foreign CRT vehicle companies. Galp and Repsol hold significant appeal in this large CRT market thanks to their provision of services such as VAT reclaim, online management, and toll payments.
Portugal fuel cards market, by key card operator
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Market report scope
Market size (2020) | 1,678.4 million liters |
Growth rate | CAGR of >6% |
Forecast period | 2020-2024 |
Key channel share | Fleet Cards and CRT Cards |
Key players | Galp, Repsol, BP, and Cepsa |
The Portugal fuel cards market report provides commercial (B2B) fuel card volume (split by fleet and CRT), value and market share forecasts to 2024, key data on independent and oil company card issuers and an analysis of fuel card competition in Portugal.
Reasons to Buy
- Plan effective market entry strategies by uncovering current and future volumes and values of the Portuguese 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.
- Plan your regional strategy by understanding the Southern European markets, Turkey, Greece, and Portugal.
Repsol
BP
Cepsa
Table of Contents
Frequently asked questions
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What was the Portugal fuel cards market size in 2020?
The fuel cards market size in Portugal was 1,678.4 million liters in 2020.
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What is the growth rate of the Portugal fuel cards market?
The fuel cards market in Portugal is projected to grow at a CAGR of more than 6% during the forecast period.
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What are the key channels in the Portugal fuel cards market?
The key channels in the Portugal fuel cards market are fleet cards and CRT cards.
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Who are the key card operators in the Portugal fuel cards market?
The key card operators in the Portugal fuel cards market are Galp, Repsol, BP, and Cepsa.
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