Summary

The fleet card market was valued at $1,022.54 billion in 2024 and is estimated to reach $4,756.55 billion by 2034, exhibiting a CAGR of 16.5% from 2025 to 2034.
A fleet card is a specialized payment card used by businesses to manage fuel and vehicle-related expenses for their company vehicles. Similar to a credit or debit card, it is exclusively used for purchases such as fuel, vehicle maintenance, and repairs. Companies issue fleet cards to drivers to eliminate the need for cash and gain better oversight of vehicle-related spending.
Each transaction made with a fleet card is tracked in real time, allowing businesses to monitor fuel usage, prevent misuse, and maintain tighter control over expenses. Most fleet cards come with online management tools that provide detailed reports, helping companies save money, optimize fleet performance, and make informed decisions. These cards are widely used across industries such as logistics, transportation, and delivery services.
The fleet card market is experiencing strong growth, largely driven by rising fuel prices. Fuel remains one of the largest operational costs for businesses that rely on vehicle fleets, and frequent price fluctuations can significantly impact profitability. In response, companies are turning to fleet cards that offer powerful fuel tracking and optimization features.

With capabilities to monitor when, where, and how much fuel is purchased, fleet cards help managers identify inefficiencies, reduce misuse, and implement spending controls. Some providers also offer fuel discounts and reward programs, further helping businesses lower operating costs. As fuel price volatility continues, the demand for transparent and cost-effective fuel management tools is expected to grow—making fuel expense control a major driver of fleet card adoption.
Another key factor fueling the fleet card market is the rapid expansion of e-commerce. As more consumers shop online, companies are scaling up their delivery fleets to meet rising demand and ensure timely deliveries. This surge in delivery operations has created a growing need for efficient logistics and expense management tools.

Fleet cards support e-commerce businesses by offering real-time tracking of fuel consumption, vehicle location, and driver spending. They allow companies to set usage limits and access detailed reports, enabling greater cost control and operational efficiency. As online orders increase and delivery networks expand, fleet cards provide the flexible and secure payment solutions needed to manage growing fleets effectively.
Technological advances are reshaping the way businesses manage their fleets. Mobile apps & contactless payments have become mainstream in fleet cards, enabling real-time transaction tracking, route optimization, and spending controls. In addition, AI-powered tools are increasingly used for fraud detection, predictive maintenance, and intelligent spending monitoring, helping fleets save costs and reduce misuse. Blockchain technology is being adopted for secure, immutable transaction records, smart contracts, and audit trails. Innovations such as tokenization and biometric authentication (e.g., fingerprint, facial recognition) are enhancing transaction security and convenience.

The fleet card market is segmented on the basis of type, vehicle type, industry, enterprise size, and region. By type, it is segmented into open loop, closed loop, and dual network cards. By vehicle type, it is classified into light-duty fleets, medium-duty fleets, and heavy-duty fleets. By industry, it is segmented into transportation and logistics, construction and mining, public transport, and others. By enterprise size, it is categorized into large enterprises and SMEs. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the fleet card market are Shell International B.V., ExxonMobil Fleet Services, Visa Inc., Corpay, Inc., Mastercard International Incorporated, Chevron Corporation, Thomas Silvey Ltd, WEX Inc., Circle K Stores, Inc., Arval UK Limited, and Parkland Corporation.
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● Expanded list for Company Profiles

Key Market Segments
By Industry
● Transportation and Logistics
● Construction and Mining
●Public transport
● Others

By Enterprise Size
● SMEs
● Large Enterprises

By Type
● Open Loop
● Closed Loop
●Dual Network Cards

By Vehicle Type
● Light-Duty Fleets
● Medium-Duty Fleets
● Heavy-Duty Fleets

By Region
● North America
○ U.S.
○ Canada
● Europe
○ UK
○ Germany
○ France
○ Italy
○ Spain
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ Australia
○ South Korea
○ Rest of Asia-Pacific
● LAMEA
○ Latin America
○ Middle East
○ Africa

● Key Market Players
○ Circle K Stores, Inc.
○ Corpay, Inc.
○ Arval UK Limited
○ Parkland Corporation
○ Visa Inc.
○ ExxonMobil Fleet Services
○ Shell International B.V.
○ Chevron Corporation
○ WEX Inc.
○ Mastercard International Incorporated
○ Thomas Silvey Ltd.

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Table of Contents

CHAPTER 1: INTRODUCTION

1.1. Report description


1.2. Key market segments


1.3. Key benefits to the stakeholders


1.4. Research methodology

1.4.1. Primary research


1.4.2. Secondary research


1.4.3. Analyst tools and models


CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO perspective


CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope


3.2. Key findings

3.2.1. Top impacting factors


3.2.2. Top investment pockets


3.3. Porter’s five forces analysis
3.3.1. Moderate to high bargaining power of suppliers

3.3.2. Moderate to high threat of new entrants

3.3.3. Moderate to high threat of substitutes

3.3.4. Moderate to high intensity of rivalry

3.3.5. Moderate to high bargaining power of buyers

3.4. Market dynamics

3.4.1. Drivers

3.4.1.1. Rising Demand for Electric Vehicles

3.4.1.2. Adoption of Cloud-based Fleet Management Solutions

3.4.2. Restraints

3.4.2.1. High Initial Investment Costs

3.4.2.2. Connectivity Issues in Remote Areas

3.4.3. Opportunities

3.4.3.1. Expansion into Emerging Markets

CHAPTER 4: FLEET CARD MARKET, BY TYPE
4.1. Overview

4.1.1. Market size and forecast

4.2. Open Loop
4.2.1. Key market trends, growth factors and opportunities

4.2.2. Market size and forecast, by region

4.2.3. Market share analysis by country

4.3. Closed Loop
4.3.1. Key market trends, growth factors and opportunities

4.3.2. Market size and forecast, by region

4.3.3. Market share analysis by country

4.4. Dual Network Cards
4.4.1. Key market trends, growth factors and opportunities

4.4.2. Market size and forecast, by region

4.4.3. Market share analysis by country

CHAPTER 5: FLEET CARD MARKET, BY VEHICLE TYPE
5.1. Overview

5.1.1. Market size and forecast

5.2. Light-Duty Fleets
5.2.1. Key market trends, growth factors and opportunities

5.2.2. Market size and forecast, by region

5.2.3. Market share analysis by country

5.3. Medium-Duty Fleets
5.3.1. Key market trends, growth factors and opportunities

5.3.2. Market size and forecast, by region

5.3.3. Market share analysis by country

5.4. Heavy-Duty Fleets
5.4.1. Key market trends, growth factors and opportunities

5.4.2. Market size and forecast, by region

5.4.3. Market share analysis by country

CHAPTER 6: FLEET CARD MARKET, BY INDUSTRY
6.1. Overview

6.1.1. Market size and forecast

6.2. Transportation and Logistics
6.2.1. Key market trends, growth factors and opportunities

6.2.2. Market size and forecast, by region

6.2.3. Market share analysis by country

6.3. Construction and Mining
6.3.1. Key market trends, growth factors and opportunities

6.3.2. Market size and forecast, by region

6.3.3. Market share analysis by country

6.4. Public Transport
6.4.1. Key market trends, growth factors and opportunities

6.4.2. Market size and forecast, by region

6.4.3. Market share analysis by country

6.5. Others
6.5.1. Key market trends, growth factors and opportunities

6.5.2. Market size and forecast, by region

6.5.3. Market share analysis by country

CHAPTER 7: FLEET CARD MARKET, BY ENTERPRISE SIZE
7.1. Overview

7.1.1. Market size and forecast

7.2. Large Enterprises
7.2.1. Key market trends, growth factors and opportunities

7.2.2. Market size and forecast, by region

7.2.3. Market share analysis by country

7.3. SMEs
7.3.1. Key market trends, growth factors and opportunities

7.3.2. Market size and forecast, by region

7.3.3. Market share analysis by country

CHAPTER 8: FLEET CARD MARKET, BY REGION
8.1. Overview

8.1.1. Market size and forecast By Region

8.2. North America
8.2.1. Key market trends, growth factors and opportunities

8.2.2. Market size and forecast, by Type

8.2.3. Market size and forecast, by Vehicle Type

8.2.4. Market size and forecast, by Industry

8.2.5. Market size and forecast, by Enterprise Size

8.2.6. Market size and forecast, by country
8.2.6.1. U.S.

8.2.6.1.1. Market size and forecast, by Type
8.2.6.1.2. Market size and forecast, by Vehicle Type
8.2.6.1.3. Market size and forecast, by Industry
8.2.6.1.4. Market size and forecast, by Enterprise Size

8.2.6.2. Canada

8.2.6.2.1. Market size and forecast, by Type
8.2.6.2.2. Market size and forecast, by Vehicle Type
8.2.6.2.3. Market size and forecast, by Industry
8.2.6.2.4. Market size and forecast, by Enterprise Size

8.3. Europe
8.3.1. Key market trends, growth factors and opportunities

8.3.2. Market size and forecast, by Type

8.3.3. Market size and forecast, by Vehicle Type

8.3.4. Market size and forecast, by Industry

8.3.5. Market size and forecast, by Enterprise Size

8.3.6. Market size and forecast, by country
8.3.6.1. UK

8.3.6.1.1. Market size and forecast, by Type
8.3.6.1.2. Market size and forecast, by Vehicle Type
8.3.6.1.3. Market size and forecast, by Industry
8.3.6.1.4. Market size and forecast, by Enterprise Size

8.3.6.2. Germany

8.3.6.2.1. Market size and forecast, by Type
8.3.6.2.2. Market size and forecast, by Vehicle Type
8.3.6.2.3. Market size and forecast, by Industry
8.3.6.2.4. Market size and forecast, by Enterprise Size

8.3.6.3. France

8.3.6.3.1. Market size and forecast, by Type
8.3.6.3.2. Market size and forecast, by Vehicle Type
8.3.6.3.3. Market size and forecast, by Industry
8.3.6.3.4. Market size and forecast, by Enterprise Size

8.3.6.4. Italy

8.3.6.4.1. Market size and forecast, by Type
8.3.6.4.2. Market size and forecast, by Vehicle Type
8.3.6.4.3. Market size and forecast, by Industry
8.3.6.4.4. Market size and forecast, by Enterprise Size

8.3.6.5. Spain

8.3.6.5.1. Market size and forecast, by Type
8.3.6.5.2. Market size and forecast, by Vehicle Type
8.3.6.5.3. Market size and forecast, by Industry
8.3.6.5.4. Market size and forecast, by Enterprise Size

8.3.6.6. Rest of Europe

8.3.6.6.1. Market size and forecast, by Type
8.3.6.6.2. Market size and forecast, by Vehicle Type
8.3.6.6.3. Market size and forecast, by Industry
8.3.6.6.4. Market size and forecast, by Enterprise Size

8.4. Asia-Pacific
8.4.1. Key market trends, growth factors and opportunities

8.4.2. Market size and forecast, by Type

8.4.3. Market size and forecast, by Vehicle Type

8.4.4. Market size and forecast, by Industry

8.4.5. Market size and forecast, by Enterprise Size

8.4.6. Market size and forecast, by country
8.4.6.1. China

8.4.6.1.1. Market size and forecast, by Type
8.4.6.1.2. Market size and forecast, by Vehicle Type
8.4.6.1.3. Market size and forecast, by Industry
8.4.6.1.4. Market size and forecast, by Enterprise Size

8.4.6.2. Japan

8.4.6.2.1. Market size and forecast, by Type
8.4.6.2.2. Market size and forecast, by Vehicle Type
8.4.6.2.3. Market size and forecast, by Industry
8.4.6.2.4. Market size and forecast, by Enterprise Size

8.4.6.3. India

8.4.6.3.1. Market size and forecast, by Type
8.4.6.3.2. Market size and forecast, by Vehicle Type
8.4.6.3.3. Market size and forecast, by Industry
8.4.6.3.4. Market size and forecast, by Enterprise Size

8.4.6.4. Australia

8.4.6.4.1. Market size and forecast, by Type
8.4.6.4.2. Market size and forecast, by Vehicle Type
8.4.6.4.3. Market size and forecast, by Industry
8.4.6.4.4. Market size and forecast, by Enterprise Size

8.4.6.5. South Korea

8.4.6.5.1. Market size and forecast, by Type
8.4.6.5.2. Market size and forecast, by Vehicle Type
8.4.6.5.3. Market size and forecast, by Industry
8.4.6.5.4. Market size and forecast, by Enterprise Size

8.4.6.6. Rest of Asia-Pacific

8.4.6.6.1. Market size and forecast, by Type
8.4.6.6.2. Market size and forecast, by Vehicle Type
8.4.6.6.3. Market size and forecast, by Industry
8.4.6.6.4. Market size and forecast, by Enterprise Size

8.5. LAMEA
8.5.1. Key market trends, growth factors and opportunities

8.5.2. Market size and forecast, by Type

8.5.3. Market size and forecast, by Vehicle Type

8.5.4. Market size and forecast, by Industry

8.5.5. Market size and forecast, by Enterprise Size

8.5.6. Market size and forecast, by country
8.5.6.1. Latin America

8.5.6.1.1. Market size and forecast, by Type
8.5.6.1.2. Market size and forecast, by Vehicle Type
8.5.6.1.3. Market size and forecast, by Industry
8.5.6.1.4. Market size and forecast, by Enterprise Size

8.5.6.2. Middle East

8.5.6.2.1. Market size and forecast, by Type
8.5.6.2.2. Market size and forecast, by Vehicle Type
8.5.6.2.3. Market size and forecast, by Industry
8.5.6.2.4. Market size and forecast, by Enterprise Size

8.5.6.3. Africa

8.5.6.3.1. Market size and forecast, by Type
8.5.6.3.2. Market size and forecast, by Vehicle Type
8.5.6.3.3. Market size and forecast, by Industry
8.5.6.3.4. Market size and forecast, by Enterprise Size

CHAPTER 9: COMPETITIVE LANDSCAPE
9.1. Introduction

9.2. Top winning strategies

9.3. Product mapping of top 10 player

9.4. Competitive dashboard

9.5. Competitive heatmap

9.6. Top player positioning, 2024

CHAPTER 10: COMPANY PROFILES
10.1. Shell International B.V.
10.1.1. Company overview

10.1.2. Key executives

10.1.3. Company snapshot

10.1.4. Operating business segments

10.1.5. Product portfolio

10.1.6. Business performance

10.1.7. Key strategic moves and developments

10.2. ExxonMobil Fleet Services
10.2.1. Company overview

10.2.2. Key executives

10.2.3. Company snapshot

10.2.4. Operating business segments

10.2.5. Product portfolio

10.2.6. Business performance

10.2.7. Key strategic moves and developments

10.3. Visa Inc.
10.3.1. Company overview

10.3.2. Key executives

10.3.3. Company snapshot

10.3.4. Operating business segments

10.3.5. Product portfolio

10.3.6. Business performance

10.3.7. Key strategic moves and developments

10.4. Corpay, Inc.
10.4.1. Company overview

10.4.2. Key executives

10.4.3. Company snapshot

10.4.4. Operating business segments

10.4.5. Product portfolio

10.4.6. Business performance

10.4.7. Key strategic moves and developments

10.5. Mastercard International Incorporated
10.5.1. Company overview

10.5.2. Key executives

10.5.3. Company snapshot

10.5.4. Operating business segments

10.5.5. Product portfolio

10.5.6. Business performance

10.5.7. Key strategic moves and developments

10.6. Chevron Corporation
10.6.1. Company overview

10.6.2. Key executives

10.6.3. Company snapshot

10.6.4. Operating business segments

10.6.5. Product portfolio

10.6.6. Business performance

10.7. Thomas Silvey Ltd.
10.7.1. Company overview

10.7.2. Key executives

10.7.3. Company snapshot

10.7.4. Operating business segments

10.7.5. Product portfolio

10.8. WEX Inc.
10.8.1. Company overview

10.8.2. Key executives

10.8.3. Company snapshot

10.8.4. Operating business segments

10.8.5. Product portfolio

10.8.6. Business performance

10.8.7. Key strategic moves and developments

10.9. Circle K Stores, Inc.
10.9.1. Company overview

10.9.2. Key executives

10.9.3. Company snapshot

10.9.4. Operating business segments

10.9.5. Product portfolio

10.9.6. Business performance

10.9.7. Key strategic moves and developments

10.10. Arval UK Limited
10.10.1. Company overview

10.10.2. Key executives

10.10.3. Company snapshot

10.10.4. Operating business segments

10.10.5. Product portfolio

10.10.6. Business performance

10.11. Parkland Corporation
10.11.1. Company overview

10.11.2. Key executives

10.11.3. Company snapshot

10.11.4. Operating business segments

10.11.5. Product portfolio

10.11.6. Business performance

10.11.7. Key strategic moves and developments