Fuel card volumes in Greece have grown annually since 2012, as high fuel prices and the continued after effects of the economic crisis, caused many commercial transport fleets to use fuel cards to lower costs.The economic crisis in Greece caused many companies to close and those which managed to survive are looking for ways to reduce costs. As a result, the number fleet vehicles using fuel cards rose causing fuel card volumes to grow over the last five years.
Over 950,000 fleet vehicles in Greece do not use fuel cards, due to the high volume requirements set by card operators. Since the economic crisis, card operators have been reluctant to offer credit to small domestic fleets and have set minimum volume requirements, which being quite high, has severely limited the number of potential fleet clients in Greece.
By launching a fleet card with lower minimum volumes and discounted fuel prices, card operators can appeal to the largely untapped fleet market and increase fuel card volumes over the next five years.
Fuel card market value in Greece has risen annually since 2013, despite falling fuel prices as card volumes grew over this period.With a limited number of fuel cards issued in Greece, it is vital for card operators to differentiate themselves to clients to increase volumes towards 2022. Due to the limited card acceptance networks offered by card operators, many Greek CRT fleets use multiple fuel cards to maximise their acceptance networks.
Shell is the largest fuel card operator in Greece due to its large domestic and international card acceptance networks which appeal to Greek commercial vehicles.
The report "Fuel Cards in Greece 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 Greece.
Companies mentioned in this report: Shell, BP, Esso, DKV, UTA, AS24, Teboil, Neste, EKO-ELDA, AVIN, Jetoil
- The total number of service stations in Greece decreased by 0.2% in 2016 totalling 6,464 service stations.
- Over 12,000 new fuel cards will be issued between 2017 and 2022, totalling to 103,942 cards in the market.
- Total fleet card volumes rose by 7.8% in 2016 continuing the upward trend started in 2013.
- Shell remained the Greek fuel card market leader despite losing market share accounting for 38.9% in 2016, as clients were drawn to its large domestic service station network and range of service stations.
- Plan effective market entry strategies by uncovering current and future volumes and values of the Greek fuel card market.
- Assess whether you should increase network acceptance of your card and identify potential new merchants by uncovering the position of competitors.
- Whether you are an issuer, a processor, a leasing company or a fuel retailer, make informed pitches to partners by understanding their business.
- Enhance fuel sales at your service stations by identifying which fuel cards you should accept based on their market shares and network acceptance.
Competitor Card Analysis