Our comprehensive research on the Global Baler Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global baler market size was US$ 5.4 billion in 2021. The global baler market is forecast to grow to US$ 11.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
Baler is agricultural equipment that improves the farm yield. The rising demand for food is the primary factor driving the growth of the global baler market.
The rapidly growing rate of world population and surge in agricultural practices will benefit the global baler market in the coming years.
The growing demand for technological developments will offer ample growth opportunities for the global baler market growth. In addition, favourable government policies to boost crop production and support farmers are likely to contribute to the growth of the global baler market.
The lack of technical knowledge among farmers may limit the growth of the global baler market.
Increasing number of partnerships and acquisitions are forecast to surge the growth of the global baler market. For instance, CNH Industrial AV completed the acquisition of K-Line AG in November 2019. K-Line Ag is an Australian agricultural implement manufacturer, which will help CNH Industrial AV’s brands’ Case IH and New Holland Agriculture to expand their product portfolio.
Regional Analysis
The Asia-Pacific baler market is forecast to grow at the fastest rate. The growth of this market is attributed to the rising agricultural practices and increasing technological advancements. In addition, governments in the region, mainly in India, and China, offer incentives to the farmers to buy products. As a result, it will benefit the regional baler market. Furthermore, the growing population in the region and fluctuations in the hunger index will offer ample growth opportunities for the market.
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Competitors in the Market
- 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.
- Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Baler industry experienced notable growth in its workforce. Starting in January, employment within the Baler sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Baler output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Baler output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Baler market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Baler market.
Market Segmentation
The global baler market segmentation focuses on Type, Product, Application, and Region.
Based on the type, the baler market has been segmented into –
- Round Balers
- Square Balers
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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
Based on the region, the baler Market has been segmented into –
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Baler Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Baler Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Baler Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Baler Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Baler market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Baler market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Baler business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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