United States of America (USA) Fuel Cards Market Size, Share, Key Players, Fuel Cards Value and Volume, and Forecast, 2020-2024

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How will the US Fuel Cards Market’ report help you achieve your business goals? The report’s in-depth analysis and market insights will help you:

  • Understand the key market dynamics and growth opportunities in the US fuel cards market.
  • Assess the competitive market dynamics in the US fuel cards market.
  • Analyze current and future value and volume of the US fuel card market.
  • Assess the network acceptance of your card and identify potential merchants be it an issuer, a processor, a leasing company, or a fuel retailer, and make informed business decisions.

How is the ‘US Fuel Cards Market report different from other reports in the market?

Businesses need to have a deeper understanding of the market dynamics to gain a competitive edge in the coming decade. Anticipate market changes and develop risk management strategies with the following data:

  • Macroeconomic landscape: Detailed analysis of current macroeconomic factors and their impact on the US fuel cards market.
  • Market dynamics: In-depth historical and forecast data of key channels (fleet cards and CRT cards) within the US fuel cards market.
  • Trends: Identify the market trends and their impact in the coming years.
  • Key players: Overview of market leaders including Operator Rankings.
  • Competitor card analysis: Detailed analysis of fees, discounts, credit days, station acceptance partners, free services, and the target region for the various cards available in the market.

We recommend this valuable source of information to anyone involved in:

  • Issuers of Fleet Cards and Fuel Retailers
  • Fleet Leasing Companies and Other Suppliers
  • Technology Leaders and Startups
  • Business Development and Market Intelligence
  • Investment Analysts and Portfolio Managers
  • Professional Services – Investment Banks, PE/VC firms
  • M&A/Investment, Management Consultants, and Consulting Firms

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The fuel card volumes in the US was 138,460.6 million liters in 2020. The market is projected to grow at a CAGR of more than 15% during the forecast period. The US 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 the US.

Overview of the US fuel cards market

Overview of the US fuel cards market

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What are the market dynamics in the US fuel cards industry?

The number of fuel cards in the US has been increasing since 2015. Both international and domestic trade were affected by COVID-19 restrictions, CRT vehicles were not as hard hit as they were still required to transport essential supplies. In the US, most of the CRT vehicles have at least one fuel card, as companies ensure their drivers have maximum service station network coverage along their varied transport routes. In the future, growing levels of international trade across North America will encourage traditionally domestic fleets to use fuel cards in neighboring countries. By 2024, card operators should ensure that they create new partnerships domestically and in neighboring countries in order to expand their acceptance networks in urban and remote locations, as well as to meet fleet needs and increase the appeal of their fuel cards to drivers of fleet vehicles.

Due to its extensive vaccination program, the US is projected to begin its recovery from the second wave of COVID-19 by the end of Q2 2021. As a result, international trade levels in North America will increase in the forecast period, and many traditionally domestic fleets will expand their businesses into surrounding countries. This new business will encourage many fleets to turn to fuel cards to take advantage of international card acceptance and additional services.

What are the key channels in the US fuel cards market?

The key channels in the US fuel cards market are fleet cards and CRT cards.

Fleet cards segment in the US fuel cards market

Fuel sold from fleet cards posted continual growth during 2015-2019. However, as the COVID-19 situation improves from Q3 2021, fleet card volumes are set to increase during the forecast period. To reduce costs in order to remain competitive, domestic fleets in the US 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 to medium-sized fleets in the fuel card market.

CRT cards segment in the US fuel cards market

Major contributors to the fuel sold to CRT vehicles include rising levels of international transport, as well as logistics companies’ need to use the additional services offered by fuel card operators. Competition is high in the US CRT card market, 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 that fuel card operators appeal to drivers, as well as fleet managers, in order to ensure that their card is preferred over competitors’ offerings. With multiple cards per vehicle, it is often left up to the driver to decide where to refuel and which card to use. In order to increase CRT card volumes, card operators should invest in services for drivers to encourage them to use a specific card. Card operators should focus on driver services such as discounted meal deals, wash facilities, truck parking, overnight parking, free Wi-Fi, outside eating areas, and driver loyalty programs. These will help operators to differentiate their offerings and increase CRT volumes toward 2024.

The US fuel cards market, by channel

The US fuel cards market, by channel

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Who are the major competitors in the US fuel cards market?

Shell, Esso, BP, Marathon, Sunoco, CITGO, Chevron, Valero, Circle K, Speedway, Conoco, Kroger, Sinclair, and CHS (Cenex) are the major competitors in the US fuel cards market.

The top five fuel card operators in the US all posted an increase in market share in 2020, as smaller domestic fleets switched to prominent card operators in order to benefit from a large card acceptance network and wider range of services. Shell remained the market leader in 2020. Its large site acceptance network appealed to domestic and foreign CRT vehicle companies.

The US fuel cards market, by major competitor

The US fuel cards market, by major competitor

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Market report scope

Market size 138,460.6 million liters
CAGR >15%
Forecast period 2020-2024
Key channels Fleet cards and CRT cards
Major competitors Shell, Esso, BP, Marathon, Sunoco, CITGO, Chevron, Valero, Circle K, Speedway, Conoco, Kroger, Sinclair, and CHS (Cenex)
Shell
Esso
BP
Marathon
Sunoco
CITGO
Chevron
Valero
Circle K
Speedway
Conoco
Kroger
Sinclair
CHS (Cenex)

Table of Contents

Table of Contents

Market Overview

Market Size

Market Forecast

Channel Share

Market Shares

Major Competitors

Competitor Card Analysis

Frequently asked questions

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