U.S. Fuel Card Market (2025 - 2030) Size, Share & Trends Analysis Report By Type (Branded Fuel Cards, Universal Fuel Cards, Merchant Fuel Cards), By Technology (Smart Cards, Standard Cards), By Application, And Segment Forecasts

U.S. Fuel Card Market Size & Trends

The U.S. fuel card market size was estimated at USD 88.03 billion in 2024 and is projected to grow at a CAGR of 9.4% from 2025 to 2030. The volatility and rise in fuel prices drive growth of the fuel card market as businesses and consumers seek ways to manage and mitigate the financial impact of fluctuating fuel costs. Fuel cards provide a practical solution to this challenge by offering tools and features that help users control expenses, access discounts, and gain better visibility into fuel-related spending. This has made fuel cards an increasingly attractive option for fleet operators, businesses, and individual drivers alike.

Rising fuel prices amplify the need for cost-saving measures, and fuel cards provide a way to reduce expenses through discounts, rewards programs, and cashback incentives. Many fuel card providers partner with specific gas stations or networks to offer discounted rates, which can lead to substantial savings over time. Such partnerships are expected to drive growth of the U.S. fuel card industry. For businesses with high fuel consumption, these savings can translate into improved profitability and a competitive edge in their respective industries. In addition, fuel cards often come with detailed reporting tools that allow businesses to analyze fuel usage patterns and identify opportunities for further cost reductions.

Moreover, the transparency provided by fuel cards drives the growth of the U.S. fuel card industry. As fuel prices rise, businesses and consumers become more vigilant about tracking their fuel expenses to avoid overspending. Fuel cards offer detailed transaction records, including the date, time, location, and amount of each purchase, which helps users monitor fuel consumption and detect any unauthorized or inefficient spending. This level of accountability is particularly valuable for fleet managers who need to ensure that their drivers are using fuel responsibly and adhering to company policies.

In addition, the increasing use of fuel cards among fleet operators for better cost management and expense tracking is driving growth in the fuel card market. Fleet operators are under constant pressure to reduce operational costs while maintaining efficiency and ensuring compliance with industry regulations. Fuel cards provide a comprehensive solution to these challenges, making them an attractive option for businesses managing fleets of vehicles.

Fuel cards offer fleet managers a streamlined way to monitor and control fuel expenses. Traditionally, fleet operators had to rely on paper receipts and manual tracking methods to monitor fuel consumption, which is time-consuming and prone to errors. With fuel cards, all fuel-related transactions are automatically recorded, creating detailed and accurate reports. These reports allow fleet managers to gain deeper insights into fuel usage patterns and identify potential inefficiencies or areas of waste. By consolidating all fuel expenses into one system, fuel cards make it easier to track and manage costs, which is crucial for maintaining profitability in a competitive market.

Type Insights

The branded fuel cards segment accounted for the largest share, 45.9%, in 2024. The cost efficiency and availability of discounts and cashback offers on fuel purchases drive the growth of branded fuel cards. Many fuel card issuers provide loyalty programs that reward customers with lower fuel prices or cashback based on usage. This incentivizes businesses with large fleets and individual drivers to adopt branded fuel cards as a way to manage fuel expenses more efficiently, particularly in times of fluctuating fuel prices.

Universal fuel cards segment is expected to grow at a significant CAGR during the forecast period. Enhanced flexibility and accessibility offered by the universal fuel card fuels growth of the segment. These cards can be used across a wide network of fuel stations, and such flexibility eliminates the need for drivers to plan routes based on specific branded stations, providing convenience for businesses managing diverse fleets or individuals traveling long distances. Universal fuel cards are particularly advantageous in rural or less urbanized areas where branded station networks might be sparse.

Technology Insights

The smart cards segment held the largest market share of 67.1% in 2024. Enhanced security offered by smart cards drives its market growth. Unlike traditional magnetic stripe cards, smart cards use encrypted microchips to store and process data, making them highly resistant to fraud, cloning, and unauthorized access. With growing concerns about fuel card fraud, businesses are increasingly adopting smart cards to protect their transactions. Features such as PIN-based authentication, real-time alerts, and advanced encryption protocols add an extra layer of security, ensuring that only authorized personnel can use the cards. Such technological advancements drive the growth of the U.S. fuel card industry.

The standard fuel cards segment is expected to register the fastest CAGR of 7.5% during the forecast period. The universal compatibility and widespread acceptance at fuel stations offered by the standard cards drive the growth of the segment. These cards, typically equipped with magnetic stripes, can be used across a vast network of fuel stations globally, making them highly convenient for businesses and individual users. Most point-of-sale systems at fuel stations are designed to process magnetic stripe cards, ensuring seamless transactions without the need for specialized infrastructure or upgrades.

Application Insights

The fuel refill segment dominated the market in 2024. Fuel cards give businesses detailed insights into fuel spending, enabling effective cost control and monitoring. Fleet managers can set spending limits, track fuel consumption, and analyze purchase patterns to identify inefficiencies and reduce unnecessary expenses. These features are particularly beneficial for fleets, where fuel costs represent a significant portion of operational expenses. In May 2023, Uber Freight launched the Uber Freight Carrier Card, a fuel card designed to assist carriers with their on-the-road purchases. This initiative, introduced in partnership with the fintech company AtoB, aims to streamline financial management for fleet operators by providing a comprehensive solution for managing fuel expenses. Such partnerships are expected to fuel growth of the U.S. fuel card industry.

The vehicle service is projected to grow at the fastest CAGR of 10.1% over the forecast period. The increased vehicle longevity and performance driven by fuel cards designed for vehicle services fuels its adoption. These cards encourage regular maintenance and timely service, which are essential for keeping vehicles in optimal condition. By simplifying the process of accessing and paying for maintenance services, fuel cards reduce the likelihood of neglecting important upkeep tasks, such as oil changes, tire replacements, or brake inspections.

Key U.S. Fuel Card Company Insights

Some of the key companies in the U.S. fuel card industry include Circle K Stores, Inc., Corpay, IncWEX Inc., TCS Fuel, and others. Organizations are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies. 

• Corpay, Inc. is a payments company that offers modern solutions to help businesses and consumers manage vehicle-related, lodging, and corporate expenses, such as fuel, tolls, hotel bookings, and vendor payments. The company provides customizable payment methods, including physical cards and software, to improve control, automation, and reporting. Its digital solutions help businesses reduce fraud, streamline data entry, and enhance decision-making. The company's services include virtual cards, accounts payable automation, cross-border payments, and travel and entertainment card products.

• TCS Fuel is a fuel management company that provides custom fuel card solutions for small to mid-sized trucking companies. The company’s primary service is its fuel card program, which offers clients significant discounts on diesel fuel at over 12,000 locations across the U.S. and Canada. The company also offers 24/7 support through its mobile app and online portal, which provide real-time access to fuel data and budget management tools.

Recent Developments

• In October 2024, WEX Inc. launched the 10-4 by WEX app, allowing independent truckers and small trucking companies to get fuel discounts usually available to larger businesses. The app offers secure, fee-free transactions at a growing network of U.S. truck stops, helping truckers save on fuel.

• In May 2024, WEX Inc. partnered with Shell to manage its portfolio of commercial fleet cards across North America, utilizing Shell’s widespread presence and WEX’s software and payment solutions to support fleet operators. This partnership aims to provide businesses with enhanced fleet management tools, including new electric vehicle payment options for the Shell Fleet Navigator Card.

U.S. Fuel Card Market Report Scope 

U.S. Fuel Card Market Report Segmentation

This report forecasts revenue growth at a country level and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the U.S. fuel card market report based on type, technology, and application:

• Type Outlook (Transaction Value, USD Billion, 2017 - 2030)

  • Branded Fuel Cards

  • Universal Fuel Cards

  • Merchant Fuel Cards

• Technology Outlook (Transaction Value, USD Billion, 2017 - 2030)

  • Smart Cards

  • Standard Cards

• Application Outlook (Transaction Value, USD Billion, 2017 - 2030)

  • Vehicle Service

  • Parking

  • Fuel Refill

  • Toll Change

  • Others