Baler Global Market 2024 - Key Drivers, Growth Factors, Technological Development And Forecast To 2033

 

Overview and Scope

The baler refers to a piece of farm equipment used to compact a harvest that has been scraped and sliced into manageable, transportable, and practical bales for storage. Bales can be rectangular or cylindrical, of varied diameters, wrapped with twine, strapping, netting, or wire, and produced by various types of balers, each of which is frequently employed. Additionally, industrial balers are used in material recycling plants, typically for the transportation of metal, plastic, or paper bales.

 

Sizing and Forecast

The baler market size has grown strongly in recent years. It will grow from $4.22 billion in 2023 to $4.57 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%.  The  growth in the historic period can be attributed to waste management needs, agricultural practices, paper and pulp industry, efficiency and labor savings, growing dairy and livestock industry, environmental awareness..

 

The baler market size is expected to see strong growth in the next few years. It will grow to $6.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.  The growth in the forecast period can be attributed to circular economy initiatives, demand for recyclable materials, bioenergy production, urbanization and waste generation, emerging markets.. Major trends in the forecast period include integration of iot and smart technologies, customization for different materials, growth in e-commerce packaging recycling, expansion of baler rental services, integration of conveyor systems, global market expansion..

 

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Segmentation & Regional Insights

The baler market covered in this report is segmented –

1) By Product: Round Balers, Square Balers

2) By Industry: Agriculture, Livestock, Other Industries

3) By Size: Bound with Twine, Strapping, Netting, Wire

4) By Application: Hay Compressing, Straw Compressing, Cotton Compressing, Other Applications

5) By End Use: Individual, Commercial

 

Top Major Players

AGCO Corporation

CLAAS KGaA mbH

CNH Industrial NV

Deere & Company

IHI Corporation

 

Asia-Pacific was the largest region in the baler market in 2023. The regions covered in the baler market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

 

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Major Driver Impacting Market Growth

The growing adoption of livestock farming is driving the growth of the baler market. Livestock farming is the procedure in which animals are increased and domesticated. The demand for balers is anticipated to increase throughout the forecast period as livestock farming becomes more popular as a result of the rising demand for meat. For instance, in 2021, according to Eurostat, a Luxembourg-based statistical office of the European Union (EU) responsible for publishing high-quality Europe-wide statistics, the livestock population in the European Union was around 142 million pigs, 76 million bovine animals, 60 million sheep, and 11 million goats.. Just a few member states house the vast majority of the EU's livestock. France held between one-fifth and one-quarter (23.3%) of the EU's bovine population, and Spain held comparable amounts of the EU's pig (22.4%) and sheep (24.8%) populations. Together, Greece (28.8%) and Spain (21.4%) accounted for more than half of the goats in the EU. In terms of livestock husbandry, certain EU member states have rather high levels of specialization. Therefore, the growing adoption of livestock farming is expected to drive the growth of the baler market .

 

Key Industry Players

Major companies operating in the baler market report are AGCO Corporation, CLAAS KGaA mbH, CNH Industrial NV, Deere & Company, IHI Corporation, International Baler Corporation, Kubota Corporation, Kuhn SAS, Vermeer Corporation, Maschinenfabrik Bernard Krone GmbH, American Baler Company, Mahindra & Mahindra Limited, Same Deutz - Fahr Group SpA, McHale, Takakita Company Limited, Krone NA Co., Kartar Agro Industries Pvt., Harris Equipment Corporation, Balewulf Line of Balers, Bramidan A/S, Maren Balers & Shredders, Harmony Enterprises, PTR Baler & Compactor, Komar Industries Inc., Excel Manufacturing Ltd., Kenburn Waste Management Ltd., Avermann Maschinenfabrik GmbH & Co. KG, Strautmann Umwelttechnik GmbH, HSM GmbH + Co. KG, Presona AB

 

The baler market report table of contents includes:

1. Executive Summary

2. Baler Market Characteristics

3. Baler Market Trends And Strategies

4. Baler Market - Macro Economic Scenario

5. Global Baler Market Size and Growth

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31. Global Baler Market Competitive Benchmarking

32. Global Baler Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Baler Market

34. Baler Market Future Outlook and Potential Analysis

35. Appendix

 

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