The fleet card market was valued at $1.02 trillion in 2024 and is estimated to reach $4.75 trillion 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.
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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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.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FLEET CARD MARKET, BY TYPE
CHAPTER 5: FLEET CARD MARKET, BY VEHICLE TYPE
CHAPTER 6: FLEET CARD MARKET, BY INDUSTRY
CHAPTER 7: FLEET CARD MARKET, BY ENTERPRISE SIZE
CHAPTER 8: FLEET CARD MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- 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.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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