Market Research Report
Fuel Cards in Hungary 2017: Market and competitor data and insights into the commercial fuel card sector
|Published by||GlobalData||Product code||611836|
|Published||Content info||49 Pages
|Fuel Cards in Hungary 2017: Market and competitor data and insights into the commercial fuel card sector|
|Published: January 25, 2018||Content info: 49 Pages||
Fuel card volumes have risen annually in Hungary between 2012 and 2017 due to an influx of new fleet cards and CRT vehicles using their fuel cards more frequently as they win business in foreign markets.Low transport costs will allow Hungarian transport fleets to undercut competitors in Western Europe and increase their need for international fuel cards towards 2022.
In order to meet the international needs of CRT vehicles over the next five years, card operators should create partnerships with fuel retailers across Europe, as card acceptance networks will become a key differentiator for CRT fleet managers when selecting a fuel card operator.
Fuel card value rose by over 28% in 2016 as fuel prices rose for the first time since 2012 and fuel card volumes increased due to an influx of new fuel cards being issued. In order to boost fuel card value towards 2022, card operators should invest in new non fuel services at their services stations. Improving shop services by partnering with fast food operators or expanding their range of grocery items can increase non fuel purchases made on fuel cards as drivers use their daily allowance at the forecourt.
MOL and Shell are the two largest fuel card operators in Hungary accounting for about 29% and around 25% of fuel card volumes sold in 2016, as fleets were drawn to their large domestic networks, while their international card services appealed to CRT vehicles.
Fleet vehicles will account for just over 42% of market volume growth in Hungary over the next five years, and with over 750,000 fleet vehicles not using fuel cards in 2022,card operators need to target this growing and largely untapped market segment.
The report "Fuel Cards in Hungary 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 Hungary.
Companies mentioned in this report: Shell, DKV, UTA,Eni, OMV, Neste, MOL, LUKOIL