Trucking Industry Holds Significant Share in the Fuel Card Market
Fact.MR finds that undergoing digital transformation and environmental regulations have triggered adoption of fuel cards for optimizing fuel consumption among truck fleet operators. Fact.MR opines truck fleet operators currently account for nearly 70% transactional value of fuel cards globally.
Robust freight demand, triggered by the rapidly-growing e-commerce sector, has fueled the growth of the trucking industry around the world. As a result of increasing manufacturing output and discretionary spending, leading truck fleet operators have expanded in terms of fleet size and bulk fuel purchasing.
Fleet management teams have discovered the efficiency, simplicity, and productivity of fuel cards for accounting fuel expenses of the company. Leading players in the trucking industry are implementing digital fleet management systems, which involve the use of fuel cards, in order to improve profitability of their businesses
Hub Motor Market A Well-Defined Technological Growth Map With An Impact-Analysis 2020 – 2030
Environmental Concerns and High Demand for Lightweight Vehicles to Aid Market Growth
tmrMay 3, 2021 2
The automotive sector over the past couple of decades has witnessed consistent developments in terms of technology and innovations due to a host of factors. Mounting environmental concerns have compelled regulatory authorities around the world to put forward stringent regulations that safeguard the environment. Automotive companies are increasingly focusing on minimizing air pollution and depletion of conventional fossil fuels to gain a competitive edge in the hub motor market for electric vehicle. In their efforts to attain these objectives, automotive companies are pinning their hopes on electric and hybrid hub motors due to which, the demand for hub motors is expected to scale up during the forecast period.