Fuel Cards in Europe, Northern Markets 2017: Market and competitor data and insights into the commercial fuel card sector
Over the next five years the number of electric vehicles in Northern Europe will increase dramatically as domestic fleets invest in electric vehicles (EVs) to reduce transport costs and compete against low cost Eastern competitors. With governments in Northern European countries banning the sale of fossil fuel vehicles from as early as 2025, commercial transport companies will be forced to invest in electric vehicles over the next ten years. Falling electric vehicle prices - as more models are released to the market, government incentives and expanding recharge networks across Northern Europe will make electric vehicles a feasible option for commercial use moving towards 2022.
Over half of all service stations in Northern Europe are unmanned in 2016 as fuel retailer’s focus on providing low fuel prices rather than additional services. It is these additional services such as shops, car washes, washrooms and restaurants that appeal to CRT vehicle drivers when they decide where to refuel. The average CRT vehicle in Northern Europe has more than one fuel card and ensuring that a driver picks your fuel card is vital to increasing card volumes towards 2022.
Fleet vehicles will be the main source of growth in Northern Europe between 2017 and 2022, as heightened competition from Eastern Europe causes fleets to turn to fuel cards to reduce transport costs. Despite fleet card volumes growing over the next five years, over a million fleet vehicles will not use fuel cards in Northern Europe in 2022, as due to high volume requirements many fleets are ineligible for fuel cards.
In order to remain competitive many small fleet vehicles use unmanned sites to refuel due to the low fuel prices offered by unmanned retailers. In order to increase fleet card volumes card operators should launch a fleet card which will target this untapped market segment. By lowering minimum volume requirements, operators will increase the number of fleets eligible for fuel cards, creating a significant number of new clients in Northern Europe.
The report Fuel Cards in Europe, Northern Markets 2017, 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 2022, key data on independent and oil company card issuers and an analysis of fuel card competition in Northern Europe.
Companies mentioned in this report: Shell, BP, Esso, DKV, UTA, TOTAL, Q8, Agip (Eni), ROUTEX, AS24, Aral, OMV, Circle K,OKQ8, St1, Teboil, Neste, MOL.