Description
The global baler market size was valued at USD 1,104.2 million in 2020 and reach USD 1,462.92 million in 2027, registering a 4.8% CAGR during the forecast period, 2021-2027. The global agriculture baler market is governed by major factors such as increasing automation in agriculture and increasing production of cereals. The rapid growth of the global population is boosting the food demand, so manufacturers are consistently innovating and developing new products to meet the increasing demand and retain their share in the global market.
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Factors Impacting Performance of Global Baler Industry over Forecast Period:
- Increasing regional demand is attributed to the growing investments by the government and OEMs in the advanced mechanization of the agricultural sector.
- The growing need for technological developments in the agricultural sector is significantly responsible for driving the growth of the baler market.
- Strong economic growth is expected to drive baler market growth in developed regions. In contrast, the Middle East & Africa is also projected to drive the agriculture baler market in the near future.
- The lack of technical know-how associated with balers maintenance makes it difficult for many farmers to adopt balers, which is one of the major restraints to the baler market.
- High purchase price and maintenance cost challenge market growth, which hampers the market economy during the forecast period.
Impact of COVID-19 on Baler Market:
Baler markets have had a major impact on the global COVID-19 outbreak. Due to the pandemic, the government and other local authorities have imposed complete lockdown in severely affected areas that have disrupted the supply and demand channel, which severely hampered market growth. Due to such severe conditions and less workforce in the manufacturing sector baler market has a downfall with less productivity in the early stages of lockdown. On the other half of the pandemic, the situation is less bad, and the market is expected to grow faster, overcoming the previous losses.
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Scope of the Report
The report outlines the global baler market study based on type, product, and application.
Based on the type, the baler market has been segmented into –
- Round Balers
- Square Balers
Based on the product, the baler market has been segmented into –
- Individual
- Industrial
Based on the application, the baler Market has been segmented into –
- Hay Compressing
- Cotton Compressing
- Straw Compressing
- Silage Compressing
- Others
Baler Market: Regional Outlook
Based on the region, the global baler Market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2020, Asia Pacific held the largest share of the total global baler market, followed by North America and Europe. Moreover, North America is expected to project the highest CAGR globally over the forecast period.
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Key Global Baler Market Competitors Includes –
The global baler market is highly fragmented, with the presence of a large number of small players across the globe. The baler industry operating in the global market are –
- McHale
- CLASS KGaA mbH
- Krone NA Co.
- Vemeer Corporation
- Deer & Company
- Kartar Agro Industries Pvt. Ltd.
- Takakita Co. Ltd.
- New Holland
- Hesston
- IHI Corporation
- International Baler Corporation
- KUHN S.A.
The baler market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market player’s presence in the respective segment and region/country. The information concluded in the report includes the inputs.
Baler Market Report Covers Comprehensive Analysis On:
- Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter’s Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
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Baler Market Regional Analysis Includes:
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA
Baler Market: Target Audience
- Baler production companies
- Baler distributors and suppliers
- Traders and exporters
- Government associations and regulatory bodies
- Packaging manufacturers, suppliers, and distributors
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