Fleet Management Procurement Intelligence

In this Fleet Management procurement intelligence report, we have estimated the pricing of the key cost components. Vehicle acquisition cost, financing, insurance, fleet management software, fuel costs, and repair & maintenance and other costs. Other costs typically include management fees & taxes, interest rates, depreciation, labor costs, toll & parking costs, and disposal costs.

Costs associated with fleet management are typically bifurcated as direct costs (fixed and variable) and indirect costs. Direct fixed costs include capital expenses such as vehicle finance and depreciation, and operating costs such as passenger/vehicle/cargo insurance and salaries/wages of staff. Direct variable costs include maintenance & repair, fuel, tolls, fines, driver incentives, etc. Indirect costs in fleet management cover expenses pertaining to the general management of the business, such as electricals, office supplies, software solutions, computer systems, etc.

For software solutions, the total cost of development is significantly influenced by a number of key elements such as feature list, UI/UX design, wireframe, development platform, development process, developer’s location, team size, and maintenance.

Order your copy of the Fleet Management category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Operational Capabilities - Fleet Management

• Industry Served - 20%
• Years In Service - 15%
• Revenue Generated - 15%
• Employee Strength - 15%
• Geographical Service Provision - 15%
• Certification - 10%
• Key Clients - 10%

Functional Capabilities - Fleet Management

• Fleet Acquisition / Leasing - 25%
• Outsourced Driver Management - 25%
• Fleet Management - 20%
• Sale & Leaseback - 10%
• Technology - 10%
• Consulting - 5%
• Others - 5%

Rate Benchmarking

The price of a fleet management service depends on the number of services that is being outsourced to an FMC (fleet management company), such as driver management, vehicle management, consulting, type and number of vehicles being leased, number of equipments required for fleet monitoring, etc. In addition, fleet management solution depends on factors such as business needs, features, type of vehicle, software selected, equipment, etc. On average, fleet management solutions cost around USD 13.5 to USD 44.5 per vehicle, per month and can cost as high as USD 495 per vehicle per month for large vehicles such as trucks and buses. On getting into an annual contract rather than a monthly arrangement, the costs can be 13.5% to 32.5% lesser, making it more economical.

Supplier Newsletter

In February 2023, Holman, Inc. announced the acquisition of Park Wood Managers, LLC. The acquisition will enable Holman, Inc. to offer commercial risk mitigation and comprehensive automotive insurance coverage services for commercial fleet vehicles, irrespective of asset type, sector, or size of the fleet. In addition, with the support of one of the top carriers in the sector, Holman, Inc. is now able to provide its customers with the additional protection of an A-minus rated cut-through endorsement.

In February 2023, Wheels and Donlen (subsidiaries of Athene Holding Ltd.) announced a merger with Lease Plan USA, which together is now known as Wheels, LLC. The new Wheels company gets increased scale, higher investment capacity, and capabilities to serve clients better across the globe with more than 1,900 people, $7 billion in assets located in the US and Canada, and more than 799,999 vehicles under management, serving clients in over 58 nations.

In April 2022, Descartes Systems Group announced the acquisition of Foxtrot. The acquisition will complement Descartes Systems Group with a team possessing deep domain knowledge and technology that will accelerate company’s efforts in the area of route planning and execution. The company will leverage Foxtrot's cutting-edge machine learning algorithms that use millions of data points gathered from field vehicles to assist clients in lowering last-mile expenses, enhancing client interactions, and identifying service elements that boost route effectiveness and on-time performance.

List of Key Suppliers

• Air Products and Chemicals, Inc.
• BOC Limited
• Coregas Pty Ltd
• Iwatani Corporation
• L’Air Liquide S.A.
• Linde plc
• Matheson Tri-Gas, Inc.
• Messer SE & Co. KGaA
• Strandmøllen A/S
• Taiyo Nippon Sanso Corporation
• Universal Industrial Gases, Inc.
• Yingde Gases Group Company Limited 

Browse through Grand View Research’s collection of procurement intelligence studies:

• Disposable Medical Gloves Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Cyber Security Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Lab Equipment Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• Commercial Real Estate Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Fleet Management Procurement Intelligence Report Scope

• Fleet Management Category Growth Rate : CAGR of 16.4% from 2023 to 2030
• Pricing Growth Outlook : 5% - 10% (Annually)
• Pricing Models : Cost plus pricing model, fixed price pricing model
• Supplier Selection Scope : Cost and pricing, past engagements, productivity, geographical presence
• Supplier Selection Criteria : Years of experience, geographical service provision, industries served, fleet acquisition/leasing, outsourced driver management, fleet management, sale & leaseback, technology, consulting, and other factors
• Report Coverage : Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model 

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions. 

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions