Australia Fuel Card Market will Boom Massively by 2027 with Top Players BP Australia, Caltex Australia Limited, Fleetcare Pty, Shell Australia, WEX Australia

The Australia fuel card market expected to grow at a CAGR of 5.1% during the forecast period 2019 – 2027, to account to US$ 605.8 Mn by 2027.

The growth in Australia fuel card market is attributed to the awareness regarding benefits of digital payments among people and fleet owners. Further, the players operating in the Australia fuel card market are investing significantly to enhance the overall fuel card offerings as well as to decrease the fraud risk, minimize form filling, and enhance tracking and reporting capabilities. Also, fuel card players are leveraging online channels as well as mobile applications to deliver services, thereby offering omni-channel experience to their customers.

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Company Profiles

BP Australia Pty. Ltd.
Caltex Australia Limited
Fleetcare Pty Ltd.
Shell Australia
WEX Australia Pty Ltd.

Market Insights

Universal fuel cards dominating the Australia fuel card market

Alike, any other fuel card, universal fuel cards offers several value-added benefits to their customers. However, the major benefit offered by universal fuel card is the ability to save time. The card holders of universal fuel cards can refuel their vehicle from any fuel station, without spending time and energy searching to find a particular fuel retailer. For a vehicle owner its does not matter much to search for any specific brands, but for businesses with large fleet size it becomes a daily task, which may consume a lot of drivers’ time. The ability to refuel the vehicle across brands can lower fuel costs, but knowledgeable managers comprehend the significance of balancing the price per gallon against the opportunity costs related with operating a commercial vehicle.

Type Insights

The Australia fuel card market by type was led by universal fuel cards. Universal card providers usually partners with several fuel companies and offer great flexibility. Certain fuel card companies merely operate in some countries or regions. While others may only be accepted at particular fuel stations. Users with less options in their region may need to be cautious regarding limiting them to just a few fuel stations. Further, for businesses, this could result in employees utilizing extra fuel as well as valuable time looking for a gas pump. If the concern is regarding the availability, then a universally accepted card can be the appropriate solution.

Application Insights

The Australia fuel card market is segmented based on fuel refill, parking, vehicle service, toll charge, and others. The fuel refill segment is expected to witness a significant demand during the forecast period. Various loyalty schemes offered by fuel Card Companies helps them to strengthen customer relationships in major markets. Customers with fuel card tends to shop more often as well as spend more per visit.

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Table of Content:

INTRODUCTION
1.1 SCOPE OF THE STUDY
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3 MARKET SEGMENTATION
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
3.1 COVERAGE
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
4. AUSTRALIA FUEL CARD MARKET LANDSCAPE
4.1 MARKET OVERVIEW
4.2 ECOSYSTEM ANALYSIS
5. AUSTRALIA FUEL CARD MARKET – KEY INDUSTRY DYNAMICS
5.1 KEY MARKET DRIVERS
5.1.1 Increased demand for fuel management
5.1.2 Increasing adoption of digital transaction methods and loyalty offerings
5.2 KEY MARKET RESTRAINTS
5.2.1 Concerns related to security
5.3 KEY MARKET OPPORTUNITIES
5.3.1 Increasing adoption of fuel cards by SMEs
5.4 FUTURE TRENDS
5.4.1 Integration of telematics with fuel cards
5.5 IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS