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Fuel Cards in China 2021

The fuel cards market in China was valued at $41,295.4 million in 2020 and is projected to grow at a CAGR of over 3% between the forecast period 2021-2024. By channel, fleet card volumes will continually increase in the forecast period, and from 2020 to 2024, CRT card volumes will increase by more than 27%.

China has recorded an upward trend in the growth of fuel cards since 2015 as the total number of fuel cards in circulation has grown from 2015 to 2019. The growth continued in 2020 with around 49,000 new cards issued during the year. However, the proportion of active fuel cards witnessed a fall in 2020 from 2019, as fleet and CRT owners were forced to reduce the size of their fleets due to a lack of business. Although both international and domestic trade was affected by COVID-19, CRT vehicles were not as hard hit, as they were still required to transport essential supplies.

It was therefore found that China recovered back from the second wave of COVID-19 by the end of the second quarter of 2021. As a result, international trade levels in neighboring countries increased during the forecast period, and many traditionally domestic fleets expanded their businesses into surrounding countries. This new business will force many fleets to turn to fuel cards to take advantage of international card acceptance and additional services to remain competitive.

China fuel cards market overview

China fuel cards market overview

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What are the fuel cards market dynamics in China?

The value of the fuel card market is expected to grow in 2021 and this was due to the rising fuel prices and growing volumes of fuel sold through fuel cards that will drive growth in fuel card market value.

In the forecast period, all new cars are expected to become compliant with more stringent emission targets set by China. Annual sales of diesel vehicles have been affected by the aforementioned issue. This will positively impact fuel sales value, as vehicles will switch to gasoline, which is a costlier fuel option. Investing in services such as washrooms, overnight parking, free Wi-Fi, driver meal deals, and driver loyalty schemes will encourage drivers to use a specific card. This will increase card value over the next years.

What are the key channels in China’s fuel cards market?

Key channels in China fuel cards markets are Fleet card and CRT card. The fuel sold from fleet cards saw continual growth between 2015 and 2019. In 2020, fleet card volumes decreased by 0.1%. Furthermore, as the situation normalized from the third quarter of 2021, fleet card volumes saw a recovery phase in their growth volumes.

The rising levels of international transport and a need by logistics companies to use the additional services offered by fuel card operators have been found to contribute to the increase in fuel sold to CRT vehicles. Fuel sold through CRT cards saw continuous growth from 2015 to 2024. Competition is high in the CRT card market in China, with many card operators offering similar services. This can make it difficult to distinguish one card offering from another, which results in many CRT vehicles having multiple fuel cards.

China fuel cards market, by channel

China fuel cards market, by channel

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Who are the key players in the Chinese fuel card market?

The two of the top three fuel card operators in China increased or retained their market shares in 2020, as smaller domestic fleets have gained market share due to continuously increasing fuel card acceptance networks compared to Sinopec. In 2020, Sinopec remained the market leader in China, even after a decline in its market share, as its large site acceptance network still appealed to domestic and foreign CRT vehicles companies.

Sinopec and PetroChina are the largest fuel card operators in China, accounting for more than 80% of the market. Commercial CRT fleets are drawn to their large international card acceptance networks and range of services aimed at CRT vehicles. While card operators such as BP and Shell offer international card networks, they have failed to acquire significant market share due to their limited coverage in China. In recent years, their networks have increased as they have opened new service stations in the Chinese market, and this has resulted in an increase in their annual market share.

China fuel cards market, by key players

China fuel cards market, by key players

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Market report scope

Market size (Year – 2020)

$41,295.4 million
Market growth rate CAGR of >3% between 2021-2024
Base year for estimation 2020
Forecast period 2021-2024
Segmentation by Channel Fleet card and CRT card
Key players Sinopec, PetroChina, BP and Shell

Reasons to Buy

  • Plan effective market entry strategies by uncovering current and future volumes and values of the Chinese 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.

Key Players





Table of Contents

Table of Contents

Market Overview

Market Size

Market Forecast

Channel Share

Market Shares

Major Competitors

Competitor Card Analysis

Contact Us

Frequently Asked Questions

the fuel cards market in China was valued at $41,295.4 million in 2020.

The fuel cards market in China is expected to grow at a compound annual growth rate of more than 3% during the forecast period 2021-2024.

Fleet card and CRT card are the major channels in the Chinese fuel cards market.

Sinopec, PetroChina, BP, and Shell are the key players in the Chinese fuel cards market.


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