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Fuel Cards in Hungary 2021

The fuel cards market in Hungary was valued at $1,627.3 million in 2020 and is projected to grow at a CAGR of over 5% between the forecast period 2021-2024. The proportion of fuel sold through fuel cards has recorded continuous growth, increasing 2015 to 2020. The fleet card volumes increased by more than 11% from 2020-2024 and the CRT card volumes also increased.

Hungary has recorded an upward trend in the growth of fuel cards since 2015. The total number of fuel cards in circulation grew by more than 15%, from 2015 to 2019. In 2020, the total number of fuel cards grew by 1.9%, with around 13,000 new cards issued. Additionally, the proportion of active fuel cards witnessed a fall, in 2020, 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 were affected by COVID-19, CRT vehicles had comparatively more business as they were still required to transport essential supplies.

Hungary fuel cards market overview

Hungary fuel cards market overview

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What are the fuel cards market dynamics in Hungary?

The Hungarian fuel card market value recorded a continuous growth, and the growth was due to an increase in average fuel prices during this period. Rising fuel prices and growing volumes of fuel sold through fuel cards will drive growth of fuel card market value.

In the forecast period, all new cars are expected to become compliant with more stringent emissions targets set by the government. This factor will affect sales of diesel vehicles in Hungary. 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 volumes over the next year.

What are the key channels in Hungarian fuel cards market?

Key channels in Hungary fuel cards market are Fleet card and CRT card. Fuel sold from fleet cards saw continuous growth between 2015 and 2019. In 2020, fleet card volumes are expected to decrease by more than 3%. This is due to the impact of COVID-19 on total fuel card volumes. Furthermore, as the situation is expected to normalize from the third quarter of 2021, fleet card volumes are set to reach and normalize the situation.

The rising levels of international transport and a need by logistics companies to use the additional services offered by fuel card operators have contributed to the increase in fuel sold to CRT vehicles. Fuel sold through CRT cards has seen continuous growth since 2015 to 2019. Fuel volumes are thus expected to see a similar trend, growing by more than 6% between 2021-2024 after falling by 3.4% in 2020 owing to the pandemic.

Hungary fuel cards market, by channel

Hungary fuel cards market, by channel

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

The three of the top five fuel card operators in Hungary increased or retained their market shares in 2020, as smaller domestic fleets switched to prominent card operators in order to benefit from international card acceptance networks and a wider range of services.

MOL and Shell are the largest fuel card operators in Hungary, accounting for more than 60% of the market. Commercial CRT fleets are drawn to their large domestic card acceptance networks and the range of services aimed at CRT vehicles. The top five fuel card operators constituted more than 96% of the overall fuel card market in 2020.

The MOL remained the fuel card market leader in 2020, even after its market share declined by 0.2 percentage points from 2019. Clients were drawn to its large domestic card acceptance network. MOL remained the largest fleet and CRT card operator, selling more than 40% of fleet volumes and contributing to more than 36% of CRT volumes sold in 2020.

Hungary fuel cards market, by key playersHungary fuel cards market, by key playersTo know more about key players, download a free report sample

Market report scope

Market size (Year – 2020) $1,627.3 million
Growth rate – By Value CAGR of >5% from 2021 to 2024
Base year for estimation 2020
Forecast period 2021-2024
Segmentation by Channel Fleet card and CRT card
Key players MOL, Shell, OMV, DKV, UTA, Lukoli and Agip

 

Reasons to Buy

  • Plan effective market entry strategies by uncovering current and future volumes and values of the Hungarian 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 Eastern European markets, Poland, Romania, Czech Republic, Hungary, Slovakia, Lithuania, Estonia.

Key Players

MOL

Shell

OMV

DKV

UTA

Lukoil

Agip (Eni)

Table of Contents

Table of Contents

Eastern European Overview

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 Hungary was valued at $1,627.3 million in 2020.

The fuel cards market in Hungary is expected to grow at a compound annual growth rate of more than 5% during the forecast period 2021-2024.

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

MOL, Shell, OMV, DKV, UTA, Lukoli, and Agip are the key players in the Hungary fuel cards market.

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