Mexico Fuel Card Market to 2027 - Country Analysis and Forecasts by Type (Branded Fuel Cards, Merchant Fuel Cards, and Universal Fuel Cards); and Application (Fuel Refill, Parking, Vehicle Service, Toll Charge, and Others)
Mexico fuel card market was valued at US$ 330.4 Mn in 2018, is expected to reach US$ 574.4 Mn by 2027, growing at a CAGR of 6.5% from 2019 – 2027.
Fuel card market operates in a highly-competitive marketplace. As leading companies in Mexico fuel card market continues to broaden their addressable market, by expanding their current product portfolio, diversifying their client base, and developing new applications and markets, all the prominent players faces an increasing level of competition, both from regional as well the leading global technology and industrial companies in the world. Mexico fuel card market is fragmented at higher level with major eight to ten players comprising 30% of the Mexico fuel card market share, whereas at the regional level it is highly fragmented with several local players. Rise in fleet sizes around the world is pushing the market for fuel card as it helps a fleet owner to streamline the process of tracking driver behavior and fuel consumption per vehicle.
Fuel cards enable enhanced tracking of fleet expenses and efficiency of the fleet by tracking real-time mileage and fuel usage by vehicles in a fleet. Fleet operators use fuel cards for costs such as truck maintenance, truck repairs, fuel, truck cleaning, and replacement vehicle rental, among others. Data captured by a fuel card include odometer reading, fuel grades, fuel product, and quantity of fuel, vehicle ID, driver ID and tax information along with transaction details such as time, location, spend amount and date support rich repowering for fleet managers. These features of fuel card are significantly driving the Mexico fuel card market.
Impact of COVID-19 on Mexico Fuel Card Market
COVID-19 is one of the most impactful disruptions till today. It has adversely impacted the transportation and logistics sector. Corona virus has forced transportation and logistics companies to delay resuming work. Overall, vehicle movement nationwide was suspended for almost a month due to the outbreak, but there is still a chance that lost output can be made up for later. These factors are hindering the Mexico fuel card market.
Mexico Fuel Card Market, By Revenue
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Mexico Fuel Card Market Insights
Efficient fleet administration is one of the key factor boosting Mexico fuel card market
Fuel cards enable enhanced tracking of fleet expenses and efficiency of the fleet by tracking real-time mileage and fuel usage by vehicles in a fleet. Fleet operators use fuel cards for costs such as truck maintenance, truck repairs, fuel, truck cleaning, and replacement vehicle rental, among others. Data captured by a fuel card include odometer reading, fuel grades, fuel product, and quantity of fuel, vehicle ID, driver ID and tax information along with transaction details such as time, location, spend amount and date support rich repowering for fleet managers. All of these enhanced data permits richer reporting, which can be used by fleet operators to identify problem zones such as fraudulent transaction by truck drivers or truck with lower fuel efficiency. Thus, fuel cards provide complete insight into vehicle operating cost and driver behavior that provides fleet managers with a complete oversight and trends required to analyze shortcomings in the fleet. Above mentioned metrics are expected to drive the adoption of fuel card by fleet operators and to contribute to the Mexico fuel card market growth.
Leveraging telematics with the adoption of fuel card is a key trend in Mexico fuel card market
Certain fuel card providers have started implanting the telematics interface as well as robust reporting abilities as a natural product offering to enhance fleet management efficiency. This comprises of GPS data integration along with purchase data with a purpose to track fleet or driver performance. It further helps in determining whether the vehicle is refueling at an appropriate location. Moreover, integrating fuel cards with telematics helps in receiving accurate Miles/Gallon reports for each vehicle. The recorded data enables the business or users to effortlessly identify any inadequacies or pinpoint drivers who may need further training. Truck driver’s behavior can be tracked using telematics. Metrics related to driving speed, the route taken, harsh braking and trip schedule can be used to keep track of driver efficiency, habits and any anomalies such as deviation from the planned route, unscheduled stoppage refueling at non-partner fuel stations and driving behavior among others.
Mexico Fuel Card Market By Type
The Mexico fuel card market is segmented into three type by their function as branded fuel card, merchant fuel card, and universal fuel card. The Mexico fuel card market by type was led by universal fuel cards. Universal card are most convenient fuel card type, the providers of these cards 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.
Mexico Fuel Card Market, by Type (2019 & 2027)
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Strategic Insights
Merger & acquisition strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand in Mexico fuel card market. Few of the recent developments in Mexico fuel card market are listed below;
2018: Edenred, the world leader in transactional solutions for companies, employees and merchants, today announced the signing of an agreement to acquire 80% of the share capital of The Right Fuelcard Company (TRFC) group, the number four fuel card program manager in the United Kingdom.
2018: Mastercard unveiled a new service to automatically integrate fuel and maintenance data from a connected car’s dashboard into the payment process. The service will streamline the process, providing fleet managers greater transparency and control.
Mexico Fuel Market – By Type
- Branded Fuel Cards
- Merchant Branded Fuel Cards
- Universal Fuel Cards
Mexico Fuel Market- By Application
- Fuel Refill
- Parking
- Vehicle Service
- Toll Charge
- Others
Mexico Fuel Card Market- Companies Profiles
- BP PLC
- Edenred SA
- Exxon Mobil
- FleetCor Technologies Inc.
- LeasePlan Corporation
- Royal Dutch Shell PLC
- Total SA
- US bank
- Wex, Inc.
- World Fuel Corporation
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Mexico Fuel Card Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
5. Mexico Fuel Card Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Efficient fleet administration with the help of enhanced data capture
5.1.2 Less Fraudulent risk associated with the usage of fuel card is expected to drive the market
5.2 Key Market Restraints
5.2.1 Concerns related to security
5.3 Key Market Opportunities
5.3.1 Increasing adoption of fuel cards by SMEs
5.4 Future Trends
5.4.1 Leveraging telematics with the adoption of fuel card
5.5 Impact Analysis Of Drivers And Restraints
6. Fuel Card– Mexico Market Analysis
6.1 Mexico Market Overview
6.2 Mexico Fuel Card Market Forecast And Analysis
6.3 Market Positioning
7. Mexico Fuel Card Market Revenue and Forecasts To 2027 – Type
7.1 Overview
7.2 Mexico Fuel Card Market Breakdown, By Type, 2018 & 2027
7.3 Branded Fuel Cards
7.3.1 Overview
7.3.2 Branded Fuel Cards Market Revenue and Forecasts to 2027 (US$ Mn)
7.4 Merchant Fuel Cards
7.4.1 Overview
7.4.2 Merchant Fuel Cards Revenue and Forecasts to 2027 (US$ Mn)
7.5 Universal Fuel Cards
7.5.1 Overview
7.5.2 Universal Fuel Cards Market Revenue and Forecasts to 2027 (US$ Mn)
8. Mexico Fuel Card Market Analysis – By Application
8.1 Overview
8.2 Mexico Fuel Card Market Breakdown, By Application, 2018 & 2027
8.3 Fuel Refill
8.3.1 Overview
8.3.2 Fuel Refill Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Parking
8.4.1 Overview
8.4.2 Parking Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Vehicle Service
8.5.1 Overview
8.5.2 Vehicle Service Market Revenue and Forecasts to 2027 (US$ Mn)
8.6 Toll Charge
8.6.1 Overview
8.6.2 Toll Charge Market Revenue and Forecasts to 2027 (US$ Mn)
8.7 Others
8.7.1 Overview
8.7.2 Others Market Revenue and Forecasts to 2027 (US$ Mn)
9. Industry Landscape
9.1 Market Initiative
9.2 New Development
9.3 Merger And Acquisition
10. Key Company Profiles
10.1 BP p.l.c.
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Exxon Mobil
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 Fleetcor Technologies Inc.
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 Royal Dutch Shell Plc
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 U.S. Bank
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 WEX Inc.
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 U.S. Bank
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 LeasePlan México, S.A. De C.V
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview:
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 Edenred Mexico S.A. De C.V.
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview:
10.9.5 SWOT Analysis
10.9.6 Key Developments
10.10 Total SA
10.10.1 Key Facts
10.10.2 Business Description
10.10.3 Products and Services
10.10.4 Financial Overview:
10.10.5 SWOT Analysis
10.10.6 Key Developments
11. Appendix
11.1 About The Insight Partners
11.2 Glossary
LIST OF TABLES
Table 1. Mexico Fuel Card Market Revenue And Forecasts To 2027 (US$ Mn)
Table 2. Glossary Of Terms, Mexico Fuel Card Market
LIST OF FIGURES
Figure 1. Mexico Fuel Card Market Segmentation
Figure 2. Mexico Market Overview
Figure 3. Mexico Fuel Card Market- By Type
Figure 4. Mexico Fuel Card Market- By Application
Figure 5. Mexico Pest Analysis
Figure 6. Mexico Fuel Card Market Ecosystem Analysis
Figure 7. Mexico Fuel Card Market Impact Analysis of Driver And Restraints
Figure 8. Mexico Fuel Card Market Forecast and Analysis To 2027
Figure 9. Mexico Fuel Card Market Breakdown, By Type, 2018 & 2027 (%)
Figure 10. Branded Fuel Cards Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 11. Merchant Fuel Cards Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 12. Universal Fuel Cards Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 13. Mexico Fuel Card Market Breakdown by Application, 2018 & 2027 (%)
Figure 14. Fuel Refill Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 15. Parking Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 16. Vehicle Service Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 17. Toll Charge Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 18. Others Market Revenue And Forecasts To 2027 (US$ Mn)
The List of Companies - Mexico Fuel Card Market
- BP p.l.c.
- Exxon Mobil
- Fleetcor Technologies Inc.
- Royal Dutch Shell Plc
- U.S. Bank
- WEX Inc
- U.S. Bank
- LeasePlan México, S.A. De C.V
- Edenred Mexico S.A. De C.V.
- Total SA
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Mexico fuel card market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Mexico fuel card market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Mexico fuel card market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Frequently Asked Questions
Certain fuel card providers have started implanting the telematics interface as well as robust reporting abilities as a natural product offering to enhance fleet management efficiency. This comprises of GPS data integration along with purchase data with a purpose to track fleet or driver performance. It further helps in determining whether the vehicle is refueling at an appropriate location.
Efficient fleet administration with the help of enhanced data capture is the key factor driving the Mexico fuel card market. Fuel cards enable enhanced tracking of fleet expenses and efficiency of the fleet by tracking real-time mileage and fuel usage by vehicles in a fleet. Fleet operators use fuel cards for costs such as truck maintenance, truck repairs, fuel, truck cleaning, and replacement vehicle rental, among others. Data captured by a fuel card include odometer reading, fuel grades, fuel product, and quantity of fuel, vehicle ID, driver ID and tax information along with transaction details such as time, location, spend amount and date support rich repowering for fleet managers.
The Mexico fuel card market by type was led by universal fuel cards. Universal card are most convenient fuel card type, the providers of these cards 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.