Fuel Cards in Europe, Western Markets 2017: Market and competitor data and insights into the commercial fuel card sector
Over the next five years commercial fleets will begin to invest in electric vehicles as they attempt to reduce transport costs. Heightened competition and rising fuel prices will force many small domestic fleets to use new strategies to reduce transport costs and remain competitive .Due to the low running and fuel costs compared to fossil fuel vehicles, commercial fleets will invest in electric vehicles towards 2022.
More than 125,000 new electric vehicles will be sold in Western Europe between 2017 and 2022 as vehicle prices fall as more models are released to the market and recharging networks expand across Europe, making electric vehicles a viable option for commercial use. With electric commercial vehicles becoming more common and many Western European countries banning the sale of fossil fuel vehicles from 2030, card operators need to invest in electric vehicles services.
In Western Europe the average CRT vehicle has about 1.3 fuel cards as companies attempt to maximise the card acceptance networks and services offered by multiple fuel card operators. With the average CRT vehicles having more than one fuel card in the majority of Western European markets, it is vital for card operators to differentiate their card offerings in order to boost CRT volumes over the next five years.
Over the next five years there will be a significant increase in demand for fuel cards across Western Europe as export levels rise across the region. With transport fleets gaining new clients in neighbouring markets towards 2022, many will turn to fuel cards to lower transport costs and benefit from card services. In order to meet the growing international needs of commercial vehicles in Western Europe, card operators should create partnerships with fuel retailers across Europe, to expand their international card acceptance networks.
The report Fuel Cards in Europe, Western 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 Western 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.
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