Ireland’s economic fundamentals remain strong, well supported by solid protection of property rights and an independent judiciary that enforces the rule of law effectively. Commitment to open-market policies that facilitate global trade and investment flows has been well institutionalized, and the economy has demonstrated admirable resilience in the face of recent years’ international and domestic challenges. Undertaking politically difficult reforms, including sharp cuts in public-sector wages and restructuring of the banking sector, Ireland has regained its macroeconomic stability and competitiveness. With the management of public finance back on a sounder footing, the deficit is declining, although the level of public debt remains quite high.
Ken Research in a study “Fuel Cards in Ireland 2016” states that, the total number of service stations in Ireland declined by 1.9% in 2015. Over 18,000 new fuel cards will be issued between 2016 and 2021, totalling to 196,889 cards in the market. Fleet card volumes will decline by 0.1% between 2016 and 2021 to total 423m litres by the end of 2021.The top five fuel card operators made up 72.4% of fuel card volumes in 2015.
Since the economy seems to be resilient which bounced back on the adversities by cutting the public sector wages and strong manufacturing industry has helped to gain back the confidence in the competitive market which paves the way for the reacquiring of fuel cards and other beneficiaries associated with it such as the widespread network of gas stations and the convenience of the customers such as low paper work, app based handling and optimal safety of the vehicle in vulnerable circumstances .
The key players in the Fuel cards industry of Ireland are Shell BP Esso DKV UTA TOTAL Q8 Agip (Eni) ROUTEX AS24 Aral OMV Campus Topaz EMO TOP Maxol Texaco DC
Key topics covered in report
Global Fuel Cards Market Research
Ireland Fuel Card Market Analysis
Ireland Fuel Card Industry Analysis
Ireland Plastic Payment Cards Market
Ireland Plastic Money Market Analysis
Fuel Card Demand Trends in Ireland
Ireland Fuel Card Market Future Outlook
The decline in fuel cards in Ireland is due to the economical crisis the country went through and thus couldn’t afford it due to the wage reduction of the public sector, but it provides a feeble growth in the fuel card in Ireland and seems to acquire the market well in further years.
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Ankur Gupta, Head Marketing & Communications