Global Earth Augers Market Outlook & Forecast Report 2023: A $2.18 Billion Market by 2028 - Escalating Demand for Earth Augers in Construction and Agriculture

DUBLIN, April 21, 2023 /PRNewswire/ -- 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 $2.18 billion by 2028 from $1.68 billion in 2022

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.

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.

SEGMENTATION ANALYSIS

INSIGHTS 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.

INSIGHTS BY FUEL TYPE

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.

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.

GEOGRAPHICAL ANALYSIS

North America held the most prominent global earth augers market share, accounting for a revenue share of 34.22% in 2022, and is expected to witness an incremental growth of USD 213.09 million during the forecast period.

The demand for the equipment across the region is supported by the large residential sector and an increase in government initiatives to expand green acreage in the region. Increased sustainable living practices will benefit the US earth augers market for producing electric earth augers. The country's government is increasingly emphasizing the expansion and preservation of green spaces as part of environmental sustainability. Therefore, such initiatives are expected to support the demand for earth augers in the market in the coming years.

The earth augers market in Europe was valued at USD 437.14 million in 2022. In developing European countries, constructing public gardens, parks, and commercial business complexes will likely drive the market's growth.

The rise in the construction of new residential properties will propel the demand for an earth auger, which, in turn, will boost the replacement of old earth augers with new energy-efficient earth augers. In Eastern and Central Europe, however, the earth augers market will witness sluggish demand in the residential segment because of the low popularity of garden and lawn beautification among households.

The urbanization of developing countries in APAC is expected to boost the demand for gardens and recreational parks, creating the need for maintenance and thereby driving the earth augers industry during the forecast period.

China has witnessed an increase in momentum in the landscaping of outdoor spaces and yards since the last decade. There are many local landscaping enterprises in the country due to low entry barriers. The government initiatives to expand municipal gardens are also attracting many players in the earth augers market.

COMPETITIVE LANDSCAPE

The global earth augers market is moderately fragmented, with many local and international players.

As consumers expect constant advancements and upgrades in outdoor equipment, the increasingly changing economic environment may negatively impact vendors. The current situation propels vendors to modify and improve their value proposition to attribute a good market presence.

Market leaders are currently emphasizing the adoption of energy-efficient goods owing to the increasing trend of using less carbon energy sources. This can be due to growing environmental issues such as global warming combined with gasoline or exhaust emissions.

ECHO, Honda, Kubota, CANGZHOU, Stanley black & decker, and others are among the major global earth augers market vendors. The prominent vendors focus on developing advanced and modern earth auger machinery and investing in R&D initiatives to expand their product line and gain a more competitive advantage in the market.

Premium Insights

Market Opportunities & Trends

• Escalating Demand for Earth Augers in Construction Industry
• Shift in Consumer Preferences for Battery-Powered Earth Augers
• Surging Investments in Agriculture Industry

Market Growth Enablers

• Evolution of New Technologies in Augers
• Government Subsidies Propel the Agriculture Industry
• Rising Need for Drilling and Boring Work

Market Restraints

• Vulnerable to Safety Hazards
• Volatility in Raw Material Prices Affecting Vendor Margins
• Rapidly Changes Emission Norms & High Pollution Caused by Gas-Powered Augers

Key Vendors

• ECHO
• Honda Motor Company
• KUBOTA Corporation
• CANGZHOU Great Garden Machinery Co. Ltd
• Stanley Black & Decker

Other Prominent Vendors

• The Toro Company
• STIHL
• Techtronic Industries
• Woods
• Makita
• DR Power Equipment
• Bobcat Company
• Earthquake
• Eskimo
• ION Ice Fishing
• Einhell Germany AG
• Emak S.p.A
• METL Southland
• Hegde Agrotech
• SUMEC Group Corp.
• Maax Engineering
• YungChi Y.C. Industrial Co.
• RABAUD
• SELVATICI SRL
• Auston Machinery Equipment Co., Ltd
• BLUE BIRD INDUSTRIES FABBRICA MOTORI S.R.L.

For more information about this report visit https://www.researchandmarkets.com/r/cpfgch

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