Baler Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030

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Baler Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030

Status : January, 2023 | Semiconductor & Electronics

Report Digest

Baler Market: Introduction

Balers are machines or equipment used in the harvesting of hay and straw. It is a farm machinery that compresses the crops in the fields. These are widely used in recycling facilities and agricultural sector. Balers are available in different shapes, size, and types. Round balers, rectangular balers, square balers and industrial balers are the common types of balers available for farming operations.

Globally, growing initiative toward recycling and the shifting  of methods by the farmers from old to newer ones are contributing to the development of baler’s market. The baler market is likely to witness steady growth in the future.

Baler Market: Key  Drivers

The expansion of several industries is contributing for the rising demands of agricultural equipments, materials and tools to facilitate agricultural activities. This factor is estimated to boost the market growth of balers.

The farmers are using automated machines and equipments in their operations switching from traditional to modern techniques. The growing use of agriculture equipment by agruculturists is likely to create sustained opportunities for market players during the assessment period. The rising automation in agricultural practices and the increasing global population are driving the market growth in the present scenario.

Baler Market: Key Restraints

High initial and maintenance cost poses a challenge to the growth of baler market as in developing countries like India and China. For many farmers in developing countries, it becomes difficult for the agriculturists to bear such expenses.

Also, the lack of technical knowledge has meant that only a few of the farmers in developing countries are thinking of investing in the equipment. Baler manufacturers will need to provide training and raise awareness so opportunities can be created.

The decline in sales has been further augmented by the COVID-19 crisis. However, as recovery has commenced, it is likely that demand for balers will grow steadily in the future.

Baler Market: Region-Wise Forecast

The demand for agricultural balers is predicted to gain momentum  in the upcoming years. Asia Pacific is expected to capture the  global market for balers owing to their increasing usage in farming operations in India, Australia and China.

baler market

In additon to Asia Pacific, North America is yet another important market for balers. Many farmers in the US and Canada usually invest in new equipment, and it is highly likely that baler market will witness significant growth in North America during the assessment period.

Market Segmentation:

By Type

  • Round baler
  • Square baler
  • Rectangular baler

By End-use

  • Commercial
  • Individual

By Application

  • Hay compressor
  • Straw compressor
  • Cotton compressor
  • Agriculture
  • Livestock industry
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America

Competitive Landscape

The key players in this  baler market are John Deere & Company, McHale Corporation, Vemeer Corporation, Claas, Krone, Minos, Abbriata, Case IH, Massey Ferguson, Kuhn Corporation, New Holland Corporation, Foton Lovol, Shanghai Star Corporation, Hesston Corporation, Yulong Machinery, Shen Yang Fang Ke,Kartar Agro Industries Private Limited, Kubota Corporation etc.

In  order to remain competive and mainain the market position, the established as well as new players are concentrating on strategies like investments in research  and developments, mergers and acquisitions, product improvements etc. For instance, Kubota Corporation has set up new research and development centre in Georgia.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?