Earth Augers Market - Global Outlook & Forecast 2023-2028: Evolution of New Technologies in Augers Presents Opportunities
Earth Augers Market
Dublin, March 06, 2023 (GLOBE NEWSWIRE) -- The "Earth Augers Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The earth augers market is expected to reach USD 2.18 billion by 2028.
Battery-powered earth augers are becoming a mainstream consumer durable product, thereby witnessing a high adoption by end-users in Europe, North America, and APAC. Consumers and businesses are expected to use ground maintenance services extensively, thereby driving the global earth augers market. As countries in Europe and North America have many lifestyle communities and public parks, the need for garden equipment is strong in these regions.
In addition, non-profit organizations and policymakers have embarked on various projects, such as green roof programs, to boost urban green spaces and increase sales in the US industry. Top developments in the earth augers market include rapid growth in the landscaping industry, the development of sustainable cities in the West, the transfer of consumer focus to advanced technology, and the proliferation of battery-powered augers.
MARKET TRENDS & OPPORTUNITIES
Escalating Demand for Earth Augers in Construction Industry
In the residential segment, portable earth auger is prominently used for specific projects. Major earth augers market vendors designed these for multiple purposes and various size variations. They can get into backyards and small spaces for landscape projects. The commercial sector has been projected constant growth in 2022, with the reopening of the economy. The construction of hotels, private & government offices, amusement parks, and sports & convention centers is growing, thereby supporting the commercial construction market, which increases the demand for earth augers.
Evolution of New Technologies in Augers
Rapid technological advancements in recent years have led to the emergence of new technologies for agriculture equipment. These technologies help enhance the effectiveness and efficiency of farm machines.
One such ground-breaking innovation in terms of garden and lawn care equipment is the introduction of autonomous brushless earth auger equipment with the following capabilities:
Drilling through dirt and ice with the convenience of battery power
A Brushless motor which provides longer runtime and more power to the motor for long life
Major vendors in the global earth augers market are focusing to increases the torque capacity. For instance, Ryobi's Auger has 30% more torque than the average gas unit. This earth auger is equipped with advanced technology. It is a lightweight auger with reduced vibration for increased comfort, an added advantage. This development of new technology propels the growth rate of the earth augers market in the forecast period.
INSIGHTS BY PRODUCT TYPE
The global earth augers market is categorized as portable, front-type, and rear-type earth augers by product type. Portable earth augers dominated the product type segment and accounted for a revenue share of 39.65% in terms of revenue in 2022. The segment is expected to grow enormously during the forecast period due to its drilling performance in distinct soil conditions. The growth is further propelled by the factor that portable earth augers are highly preferred in tight areas as they drill at a moderate speed, allowing the operator to control the equipment better. Moreover, these augers are highly popular among price-sensitive customers as they are more affordable than front-type and rear-type augers.
Segmentation by Product
Portable Earth Augers
Front Type Earth Augers
Rear Type Earth Augers
INSIGHTS BY FUEL TYPE
The global earth augers market by fuel type segments into gas-powered, battery-powered, and electric corded. In 2022, the gasoline-powered earth auger dominated the market, accounting for a revenue share of 62.03%. The highest percentage of the gasoline-based earth auger was attributed to their more power than battery-based earth augers. Countries like the US, Germany, Sweden, and France increase the most revenue for the gas-powered earth augers market. Also, the horticulture industries increased in numbers across these countries.
Segmentation by Fuel Type
INSIGHTS BY END-USER
The agriculture sector led the earth augers market by end-user segment and accounted for USD 660.22 million in 2022 and is growing with a CAGR of 5.21% during the forecast period. The growth is attributed to the increase in the inclination of the population for farming. The growing popularity of various agriculture, horticulture, and government initiatives to encourage the farming industry are boosting the demand for agricultural product export and import in various countries. As a result, the need for the plantation & maintenance of agricultural land is growing significantly.
The United States is well recognized for its advanced agricultural technology globally. The US has developed scientific soil for farming, crop cultivation analysis, and innovative farming types of machinery like earth augers, spray fertilizers, and others. Further, In 2020, the United States had 2 million acres of land for farming and cultivating. According to US gross domestic product (GDP) analysis, the industries related to the agricultural production sector contributed around USD 1.055 trillion. Hence agricultural activities are projected to overgrow in the upcoming years. So, such factors contribute to the growth of the earth augers market during the forecast period.
Segmentation by End-User
INSIGHTS BY START TYPE
The trigger start is leading the earth augers market by start type. In 2022, trigger-type earth augers accounted for a revenue share of 61.25% in the global earth augers market. It was expected to project an incremental growth of USD 336.39 million during the forecast period. Nowadays, most earth auger vendors like honda and Ryobi are shifting to electric trigger-type technology rather than recoil starter rope. The trigger starts the engine efficiently instead of using a recoil starter cord to turn over the engine. So the trigger-type technology drove the earth auger segment in the forecasting period.
Segmentation by Start Type
INSIGHTS BY AUGER BIT SIZE
The global > 9-inch earth augers market was valued at USD 603.62 million in 2022. 9-Inches augers are used for mailbox holes, digging fence posts, and holes for larger plants. Capable of drilling holes for 6-by-6 posts. These types of augers are mostly used for drilling holes in wide spaces. Typical industrial applications include drilling holes for telephone poles, solar posts, and deck posts. These blades offer a quick circular motion that helps boost their drilling performance.
Segmentation by Auger Bit Size
INSIGHTS BY BY DISTRIBUTION CHANNEL
In 2022, the offline distribution channel dominated the global earth augers market and accounted for a revenue share of 62.26% of the market. This segment is expected to witness an incremental growth of USD 272.66 million during the forecast period. Factors such as the broad reach in areas that lack better connectivity and brand loyalty, along with the quality of products, are driving the growth of this segment.
Although the online channel holds a relatively low earth augers market share, it is expected to grow at a higher CAGR during the forecast period. The proliferation of e-commerce and high awareness of the benefits of online purchases, such as heavy discounts, occasional offers, and the rise in the demand for convenience, are driving the growth of the online segment.
Segmentation By Distribution Channel
Segmentation by Geography
Rest of Europe
Rest of APAC
Rest of Latin America
Middle East & Africa
Evolution of New Technologies in Augers
Government Subsidies Propel the Agriculture Industry
Rising Need for Drilling and Boring Work
Vulnerable to Safety Hazards
Volatility in Raw Material Prices Affecting Vendor Margins
Rapidly Changes Emission Norms & High Pollution Caused by Gas-Powered Augers
Honda Motor Company
CANGZHOU Great Garden Machinery Co. Ltd
Stanley Black & Decker
Other Prominent Vendors
The Toro Company
DR Power Equipment
ION Ice Fishing
Einhell Germany AG
SUMEC Group Corp.
YungChi Y.C. Industrial Co.
Auston Machinery Equipment Co., Ltd
BLUE BIRD INDUSTRIES FABBRICA MOTORI S.R.L.
KEY QUESTIONS ANSWERED:
How big is the earth augers market?
What is the growth rate of the earth augers market?
Who are the key players in the global earth augers market?
What are the significant trends impacting the global earth augers market?
Which region holds the largest global earth augers market share?
No. of Pages
2022 - 2028
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2028
Compound Annual Growth Rate
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