At 6.4% CAGR, Middle East & Africa Aviation Fuel Card Market is Projected to be Worth US$ 268.93 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa aviation fuel card market was valued at US$ 163.22 million in 2022 and is expected to reach US$ 268.93 million by 2030, recording a CAGR of 6.4% from 2022 to 2030. Rising fuel consumption and growing adoption of sustainable aviation fuel are among the critical factors attributed to drive the Middle East & Africa aviation fuel card market growth.

Due to the high demand for air travel, overall fuel consumption has increased. Historically, the aviation industry has paid for fuel in a variety of ways, depending on the fuel industry's economic conditions and agreements in existence. Airlines and other aviation industries frequently purchase fuel on the spot market, either directly from oil companies or through fuel brokers. However, traditional methods are way more expensive as many stakeholders were present in the process. Fuel card has enabled the airline to purchase directly from certified suppliers or the production company. In addition, fuel card allows fuel consumption and tracking, which further helps consumption optimization. Thus, growing air travel has increased overall fuel consumption, which drives the adoption of fuel cards owing to various benefits such as discounts, cost tracking, and fuel quality.

On the contrary, presence of alternative payment methods hamper the growth of Middle East & Africa aviation fuel card market.

Based on type, the Middle East & Africa aviation fuel card market is bifurcated into merchant and branded. The merchant segment held 76.8% Middle East & Africa aviation fuel card market share in 2022, amassing US$ 125.43 million. It is projected to garner US$ 210.93 million by 2030 to register 6.7% CAGR during 2022-2030.

In terms of application, the Middle East & Africa aviation fuel card market is bifurcated into commercial and private. The commercial segment held 81.8% share of Middle East & Africa aviation fuel card market in 2022, amassing US$ 133.45 million. It is anticipated to garner US$ 223.73 million by 2030 to expand at 6.7% CAGR during 2022-2030.

Based on country, the Middle East & Africa aviation fuel card market is categorized into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 41.4% share of Middle East & Africa aviation fuel card market in 2022. It was assessed at US$ 67.54 million in 2022 and is likely to hit US$ 107.57 million by 2030, registering a CAGR of 6.0% during 2022-2030.

Key players operating in the Middle East & Africa aviation fuel card market are Shell Plc, BP Plc, Associated Energy Group LLC, TITAN Aviation Fuels Inc, and TotalEnergies SE, among others.

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