Australia Fuel Card Market to Grow at a CAGR of 5.1% to reach US$ 605.8 Mn from 2018 to 2027

The Australia fuel card market valued at US$ XX Mn in 2018 and is 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.

Australia Universal Fuel Card Market, by Revenue, 2018 & 2027

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.

Australia Fuel Card Market by Application

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Australia Fuel Card Market: Strategic Insights

Australia Fuel Card Market

• Market Size 2018
  US$ XX Million
• Market Size 2027
  US$ 605.8 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• Australia

Market Segmentation

Type

• Branded Fuel Cards
• Merchant Fuel Cards
• Universal Fuel Cards

Application

• Fuel Refill
• Parking
• Vehicle Service
• Toll Charge

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The Australia fuel card market is moderately consolidated with few major players sharing the larger pie of the market. Also, major and smaller players are trying to come up with innovative solutions and strategic partnerships as well as different business models to attract a large base of customers.

2019: Coles Group signed a deal with Viva Energy. As per the deal, Viva Energy will pay US$137 Mn to renew its fuel partnership with Coles in a new ten-year agreement, starting from March 2019.

2018: Caltex and Woolworths has extended their partnership to help consumers of Australia to save money and earn reward.

2018: BP’s fuel payment app BPme included acceptance of fuel card payments, which will help fleet managers and drivers to save time.

Australia Fuel Card Market - By Type

•   Branded Fuel cards

•   Merchant Fuel cards

•   Universal Fuel cards

Australia Fuel Card Market - By Application

•   Fuel Refill

•   Parking

•   Vehicle Service

•   Toll Charge

•   Others

Company Profiles

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

Australia Fuel Card Market Report Scope