According to the latest report by IMARC Group, titled "Baler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global baler market exhibited moderate growth during 2015-2020. Baler refers to a farm machine used to cut and compress raked crops, such as hay, cotton, flax straw and silage, into compact bales. There are two types of balers, namely, chain- and belt-based balers. This equipment is manufactured by using sheet steel and comprises tires, hydraulic cylinders, wheels, pumps, belts, and chains. Industrial balers are used for producing bales from plastic, paper, fiberboard, and foil waste. They are convenient to store, handle, and transport. Balers are cost-effective and help maintain the quality of the bundle, due to which they are extensively applied in the agriculture, livestock, and recycling industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Baler Market Trends:
A significant expansion in the agriculture industry, along with rising automation of the farming infrastructure, represents the key factor driving the market growth. In line with this, farmers are increasingly shifting to smart farming methods for effectively utilizing crop residue and improving farm yield. This mechanism is helping to cater to the escalating food demand across the globe. Additionally, the development of industrial balers to minimize energy consumption and the increasing presence of various retailers and product suppliers are fueling the market growth. Moreover, rising investments by governments of various nations and leading manufacturers to enhance baler mechanization capabilities are creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of around 6% during 2021-2026.
- Based on the product, the market has been bifurcated into round and square balers.
- On the basis of the distribution channel, the market has been divided into online and offline.
- Based on the application, the market has been segmented into agriculture, livestock, and other industries.
- On the basis of the end user, the market has been classified into individual, commercial, and industrial segments.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being AGCO Corporation, American Baler Company (Avis Industrial Corporation), CLAAS KGaA mbH, CNH Industrial N.V., Deere & Company, IHI Corporation, International Baler, Kubota Corporation, Kuhn SAS and Vermeer Corporation.
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