Belgium Fuel Cards Market Size, Share, Key Players, Competitor Card Analysis and Forecast to 2027
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Belgium Fuel Cards Market Report Overview
The Belgium fuel cards market value was EUR4.48 billion in 2022. The market is expected to register a CAGR of more than 2% during the period 2023-2027. The main factors behind this growth will be rising fuel prices and growing volumes of fuel sold through fuel cards.
Belgium Fuel Cards Market Outlook 2022-2027 (EUR Billion)
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The Belgium fuel cards market research report provides invaluable comprehensive data insights for issuers of fleet cards, fuel retailers, fleet leasing companies, and other suppliers to the sector. The report also provides commercial (B2B) fuel card volume (split by fleet and CRT), value and market share forecasts for 2027, and key data on independent and oil company card issuers. It analyzes fuel card competition in Belgium.
Market Size (2022) | EUR4.48 Billion |
CAGR (2023-2027) | >2% |
Historical Period | 2015-2022 |
Forecast Period | 2023-2027 |
Key Channels | · Fleet Cards
· CRT Cards |
Leading Fuel Card Operators | · TOTAL
· Shell · Esso · Q8 · Network Fuel Card |
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Belgium Fuel Cards Market Trends
The rising demand for EVs is one of the key trends shaping the fuel card market in Belgium. Western Europe’s electric vehicle (EV) market, which slowed down in 2022, is set to regain momentum by 2025. To promote the shift to zero-emission vehicles, Western European countries are planning to ban petrol and diesel vehicle sales by 2030. The region’s governments also provide positive incentives for EV purchases. These developments will strongly support the growth of the region’s EV market over the next five years. As a result, fleets will invest more in electric and hybrid vehicles as these become viable options for commercial use. Such factors may propel the growth of the market in focus in the coming years.
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Belgium Fuel Cards Market Segmentation by Channels
The key channels in the Belgium fuel cards market are fleet cards and CRT cards. Fleet card channels led the market in 2022 due to a rise in fuel card volumes.
To reduce costs and remain competitive, domestic fleets in Belgium are being forced to opt for fuel cards. Furthermore, as card operators introduce lower volume limits to target this growing market segment, there will likely be an influx of small to medium-sized fleets in the fuel card market. This will add more fuel cards to be sold to fleet vehicles during 2023-2027. As a result, fleet volumes will rise significantly during the forecast period.
Belgium Fuel Cards Market Analysis by Channels, 2022 (%)
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Belgium Fuel Cards Market – Competitive Landscape
Some of the leading fuel card operators in Belgium are:
- TOTAL
- Shell
- Esso
- Q8
- Network Fuel Card
In 2022, TOTAL remained the market leader in Belgium, as its large site acceptance network appealed to domestic and foreign CRT vehicle companies.
Belgium Fuel Cards Market Analysis by Fuel Card Operators, 2022 (%)
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Segments Covered Belgium Fuel Cards Market Report
Belgium Fuel Cards Channels Outlook (Value, EUR Billion, 2015-2027)
- Fleet card
- CRT card
Scope
Fuel Cards in Belgium 2022 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 2027, key data on independent and oil company card issuers, and an analysis of fuel card competition in Belgium.
Key Highlights
The total number of service stations in Belgium declined by 1.7%, from 3,092 in 2021 to 3,038 in 2022. More than 97,000 new fuel cards will be issued during 2023-27, resulting in a total of 1.4 million cards in the market. Out of the total active cards in the market, 84.1% will be held by fleet vehicles and 15.9% by CRT vehicles. Fuel card volumes will rise by a CAGR of 0.8% during 2023-27, reaching 2,4 billion liters in 2027.
Reasons to Buy
Plan effective market entry strategies by uncovering current and future volumes and values of the Belgian 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. Plan your regional strategy by understanding the Western European markets, Slovenia, Austria, Belgium, Switzerland, Netherlands, Ireland, and Luxembourg.
Shell
Esso
Q8
Network Fuel Card
Texaco (Delek)
DKV
Jet (Lukoil)
UTA
Table of Contents
Frequently asked questions
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What was the Belgium fuel cards market size in 2022?
The fuel card market size in Belgium was valued at EUR4.48 billion in 2022.
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What is the market growth rate of the Belgium fuel card market?
The Belgium fuel cards market is expected to register a CAGR of more than 2% during the period 2023-2027.
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Which channel led the Belgium fuel cards market?
Fleet cards channel led the Belgium fuel cards market in 2022.
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Which are the leading fuel card operators in the Belgium fuel cards market?
Some of the leading fuel card operators in Belgium are TOTAL, Shell, Esso, Q8, and Network Fuel Card among others.
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