Global Baler Market by Product (Round Balers, Square Balers) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global baler market was worth USD 5.1 billion in 2019. It is projected to grow at an 8.9% compound annual growth rate (CAGR), between 2020 and 2027. Baler is an agricultural tool that can be used to bail hay or compress raked and cut crops. The market is driven by technological advancements in agriculture that aim to improve farm yield and meet growing food demand. The market will be driven by a rise in balers demand from the Asia Pacific region over the forecast period. Due to increasing adoption of livestock farming around the world, the demand for balers will grow. Globally increasing livestock production is due to rapid urbanization, rising disposable incomes, and changes in lifestyles.

Agricultural balers are crucial in providing feed for livestock animals. They also provide convenience for farmers by facilitating transportation, storage straw and hays and making sure that livestock have enough food. Balers are becoming more popular in livestock farming due to the many benefits they offer.

In the next seven year, market growth will be driven by rising demand from Asia Pacific. The growing demand from the region is due to the increasing investments made by the government and OEMs into advanced mechanization in India, Australia, Southeast Asia. Regional demand is driven by the growing demand for technological innovations in the agricultural sector.

Market growth is hampered by high maintenance and purchase costs. Due to the high initial cost of large balers, especially in developing countries like India and China, it is difficult for farmers to afford balers for agriculture. Some farmers find it difficult to adopt balers due to a lack of technical knowledge associated with baler maintenance. Round balers are labor-intensive and require a well designed feeder process. The straw from the crops can become loosening if the hay becomes too dry. This makes it difficult to clean the equipment.

Many countries imposed strict lockdown measures after the COVID-19 pandemic. Due to the spread of the COVID-19 pandemic across the globe, the market saw a slight dip in 2020. The market saw a decrease in sales due to a total shutdown of production facilities across China, Europe and the U.S. during the first quarter. Despite the fact that the companies have begun operations, sales are expected to be lower throughout the year. Recent results from companies in the market indicate that the market is on the verge of a resurgence. They may also continue to grow at an accelerated pace beginning in 2021.

Product Insights

In 2019, the round balers segment accounted for 55.2% of all revenue. Mini round bales require less power than square bales. This is why they accounted for 55.2% of the total revenue in 2019. Round balers are popular with farmers because they are simple to use and require fewer adjustments. Round balers are preferred by farmers who store bales for longer periods of time because they have a higher resistance to weather than square bales.

The square balers segment can be further divided into two types: small and large squarebalers. In 2019, the small square balers made up 59.76% of total square balers' shipments. Large square balers, however, had a higher revenue share due to their high purchase prices. Because they are efficient in operation, large square balers are widely used on large-sized livestock farms.

Regional Insights

Asia Pacific was responsible for 36.7% of the total revenue in 2019. This is due to the presence in the region of key market players such as IHI Corporation, Kubota Corporation and Mahindra & Mahindra Limited. Market growth is expected to be driven by the region's growing livestock farming. Balers are in high demand in this region due to the large area of agricultural land and the growing use of mechanization in agricultural processes.

In 2019, the European market held a significant volume share. The government's initiatives to encourage machinery use in agriculture are driving balers demand in the region. CLAAS GmbHaA mbH and CNH Industrial N.V. have contributed to the region's growth. The forecast period will see the region grow due to large farming operations and technological advances in agriculture.

Market Share Insights & Key Companies

There is intense competition in the market among key players with a global presence. To maintain competition, market players resort to inorganic growth strategies such as mergers and acquisitions to increase their product range. CNH Industrial AV, an Australian manufacturer of agricultural implements, acquired K-Line AG in November 2019. This acquisition allowed CNH Industrial AV to increase their agricultural product portfolios through the New Holland Agriculture and Case IH brands.

Baler manufacturers are also investing in new products with better features than their competitors. CLAAS KGaA mbH, for instance, announced in April 2020 its ROLLANT fixed-chamber round balers in the baler market. New balers have a stronger chassis and can be wrapped with net or film. Kuhn SAS also launched the VB7100 series of high-performance round balers in July 2019. This is a great option for large farmers and contractors who want to create dense bales. The following are some of the major players in global baler markets:

• AGCO Corporation

• CLAAS KGaA

• CNH Industrial N.V.

• Deere & Company

• IHI Corporation

• Kuhn SAS

• Kubota Corporation

Up Market Research published a new report titled “Baler Market research report which is segmented by Product (Round Balers, Square Balers), By Players/Companies AGCO Corporation, Deere & Company, IHI Corporation, Kuhn SAS, CNH Industrial NV, Kubota Corporation, CLAAS KGaA mbH”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Baler Market Report Segments:

The market is segmented by Product (Round Balers, Square Balers).

Baler Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Baler Market

Overview of the regional outlook of the Baler Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Baler Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Baler Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Round Balers

                2. Square Balers

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Baler Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
• Market Entry Strategies
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• Understanding Competition Scenario
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Reasons to Purchase the Baler Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.