Industry: Payments, Remittance & Cards (Financial Services & Investment Intelligence)
Source: https://www.mordorintelligence.com/industry-reports/fuel-card-market
Scraped Date: 2026-09-17
| Market Metric | Details |
|---|---|
| Base Market Size | USD 224.80 billion |
| Projected Forecast (2031) | USD 224.80 billion |
| Growth Rate (CAGR) | 4.90 % |
| Largest Market Region | N/A |
| Fastest-Growing Region | N/A |
!Major players in Fuel Card industry
!Fuel Card Market Share by Card Type, 2025
!Fuel Card Market Share by Customer, 2025
!Fuel Card Market Growth Rate by Region
!Fuel Card Market Concentration
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Market Overview
Study Period | 2020 - 2031 |
Market Size (2026) | USD 224.80 Billion |
Market Size (2031) | USD 285.20 Billion |
Growth Rate (2026 - 2031) | 4.90 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order
Image © Vijeron Intelligence. Reuse requires attribution under CC BY 4.0.
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Fuel Card Market Analysis by Vijeron IntelligenceThe fuel card market size was valued at USD 215.6 billion in 2025 and is estimated to grow from USD 224.8 billion in 2026 to reach USD 285.2 billion by 2031, at a CAGR of 4.9% during the forecast period (2026-2031). The fuel card market is supported by commercial fleets that need controlled purchasing, transaction records, and better oversight of fuel spending. Fleet operators are replacing cash purchases and receipt-based reimbursement with digital payment tools that provide clearer transaction visibility and spending controls. This shift also supports links between card payments and enterprise fleet systems, which makes fuel cards more useful in day-to-day fleet administration. Commercial vehicle activity and road-based logistics continue to create demand for managed refueling arrangements in established and developing transport markets. Competition is increasingly centered on payment data, telematics links, electric vehicle charging access, and the ability to combine several mobility expenses on a single invoice.
Key Report Takeaways
Global Fuel Card Market Trends and InsightsDrivers Impact Analysis*
Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
Commercial Fleet and Road Logistics Growth | +1.0% | Global | Short term (≤ 2 years) |
Fleet Fuel Spend Control and Cost Visibility | +0.8% | Global | Short term (≤ 2 years) |
Telematics and Fleet-System Integration | +0.7% | North America and European Union | Medium term (2-4 years) |
Multi-Brand Acceptance Network Expansion | +0.6% | North America and European Union, expanding to Asia-Pacific | Medium term (2-4 years) |
Integrated Fuel, Electric Vehicle Charging, and Mobility Payments | +0.5% | European Union, North America, and Asia-Pacific | Long term (≥ 4 years) |
Real-Time Controls and Fraud Prevention | +0.4% | Global | Medium term (2-4 years) |
Source: Vijeron Intelligence |
Competitive Landscape
The fuel card market has concentrated global leaders and a fragmented regional and small-fleet field. WEX, Corpay, DKV Mobility, and Eurowag compete as integrated payment platforms, while Shell, BP, ExxonMobil, TotalEnergies, Chevron, and Repsol operate branded card programs. Integrated platforms are adding electric vehicle charging, toll management, and fleet data capabilities. Oil majors are using payment partnerships to extend acceptance and modernize their products. This structure leaves room for local specialists and financial technology providers that focus on smaller fleets.
DKV Mobility acquired Dutch fuel and charge-card provider MKB Brandstof in May 2026. The acquisition added 115,000 fleet cards and 55,000 small and medium-sized business customers to DKV Mobility’s Benelux position. The deal also extended access to 76,000 fueling stations and more than 1 million charge points across Europe. WEX launched a unified fuel and public charging card in January 2026, covering more than 175,000 charging ports and over 90% of United States gas stations. These moves show how the fuel card market is moving toward wider mobility-payment coverage.
Smaller fleets remain an important competitive area because they may prefer open-loop cards with broad acceptance and direct savings. AtoB’s Mastercard-based offering focuses on this group and reports average diesel savings of USD 0.42 per gallon. Shell and WEX redesigned their United States card products in 2025 with access to 95% of gas stations and multiple charging networks. Eurowag and FincoEnergies introduced Biofuel Swap in March 2026 as a virtual hydrotreated vegetable oil decarbonization service within Eurowag’s digital mobility ecosystem.
Fuel Card Industry Leaders* Corpay, Inc.
Image © Vijeron Intelligence. Reuse requires attribution under CC BY 4.0.
Global Fuel Card Market Report ScopeBy Card TypeOil-Major/Retailer-Branded |
Independent & Bank Fleet Cards |
Government Programmes |
By GeographyNorth America | United States |
| Canada |
|---|
| Mexico |
South America | Brazil |
| Argentina |
|---|
| Rest of South America |
Europe | United Kingdom |
| Germany |
|---|
| France |
| Italy |
| Spain |
| Rest of Europe |
Asia-Pacific | China |
| Japan |
|---|
| India |
| South Korea |
| Australia |
| Indonesia |
| Thailand |
| Malaysia |
| Singapore |
| Vietnam |
| Rest of Asia-Pacific |
Middle East and Africa | Saudi Arabia |
| United Arab Emirates |
|---|
| Turkey |
| South Africa |
| Egypt |
| Rest of Middle East and Africa |
Digital spending controls, wider merchant acceptance, telematics links, and combined fuel and charging payments support adoption. These functions give managers clearer transaction records and more control over fleet expenditure.
The fuel card market size is estimated at USD 224.8 billion in 2026 and is forecast to reach USD 285.2 billion by 2031. The forecast period CAGR is 4.9%.
Independent and bank fleet cards held 54.8% of 2025 revenue and are projected to grow at a 5.6% CAGR through 2031. Broad acceptance supports their position with varied fleet operators.
Heavy trucks and buses held 62.3% of 2025 vehicle revenue because of intensive fuel use in freight and passenger transport. Light commercial vehicles have the highest projected growth rate at 6.1%.
North America held 56.5% of 2025 revenue, while Asia-Pacific is projected to expand at a 7.8% CAGR through 2031. Cross-border freight and fleet formalization influence regional demand.
Providers are adding public charging access to fuel cards so mixed internal-combustion, hybrid, and electric fleets can use one account and invoice. This reduces administrative complexity for operators managing more than one energy source.