The latest market report published by Credence Research, Inc. “Global Earth Augers Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global earth augers market is anticipated to grow at a substantial CAGR of 4.80% in the upcoming years. The global earth augers industry was estimated to be worth USD 1.8 billion in 2022 and was expected to be worth USD 2.50 billion by 2030.
The report provides key insights into the performance of major segments in the earth augers market. In 2022, the portable segment accounted for the largest share of the market due to its versatility in drilling various soil types. The gas-powered segment was also prominent in 2022, offering more power than battery-powered augers and accounting for a significant percentage of sales. The agriculture segment held a prominent share, reflecting the increased propensity for farming. Additionally, the trigger start and >9-inch segments showed significant growth potential.
North America dominated the earth augers market in terms of regional revenue share in 2022. The region’s substantial residential sector and government measures to enhance green space have contributed to the demand for equipment. As new residential buildings are constructed, the need for earth augers is expected to increase, driving the replacement of old inefficient models with more energy-efficient ones.
The competitive landscape of the earth augers market is characterized by key players such as TCK, Streamline Industrial, ECHO, KYD, Glade, Hunter Power Construction Tools, Senmal Industry, RAY, TAIAN, ROSCHEN, Hegde Agro Impex, ZHEJIANG WUCHUAN INDUSTRIAL, YIKA INDUSTRY, Maax Engineering, and Yung Chi Y.C. Industrial. These companies focus on increasing their production capabilities, forming partnerships, and raising vendor awareness to gain a competitive edge.
Earth Augers Market opportunities are promising due to the increasing demand for efficient and cost-effective drilling equipment. These augers are extensively used in various industries, including agriculture, construction, mining, and gardening. The growing awareness about the importance of soil testing and land preparation before any construction or cultivation activity has resulted in a surge in the earth auger market’s demand. Additionally, governments worldwide have initiated programs that promote sustainable farming practices to improve crop yield and reduce environmental degradation.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Earth Augers Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the Auger Bit Size and End User
- Major nations in each region with their import/export statistics
- The global Earth Augers Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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