Baler Market Report 2023-2032: Market Size, Growth Key Trends, Forecast | AGCO Corporation, CLAAS KGaA mbH, CNH Industrial NV, Deere & Company, IHI Corporation

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Baler Global Market Report 2023 identifies growing adoption of livestock farming as the major driver for the Baler market's growth in the forecast period. 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 an article by Eurostat, a Directorate-General of the European Commission, the number of livestock in the EU is significant: there were 146 million pigs, 76 million cattle, and 75 million sheep and goats in 2020.

The global baler market size is expected to grow from $3.91 billion in 2022 to $4.23 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The baler market size is expected to grow to $5.67 billion in 2027 at a CAGR of 7.6%.

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Major competitors in the Baler market are AGCO Corporation, CLAAS KGaA mbH, CNH Industrial NV, Deere & Company, IHI Corporation.

A key trend in the Baler market includes technological advancement. Major companies in the baler market are advancing towards technologies and research and development of advanced products. For instance, in March 2022, New Holland Agriculture, a US-based agricultural machinery manufacturer launched a baler offering with premium Pro-Belt. Both a rotor feeder version and a 25-knife rotor cutter version of the variable chamber with a maximum bale size configuration of 165 cm and 190 cm will be offered. The baler includes an automatic greaser, a moisture meter, service lights, and IntelliBale compatibility as standard features.

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The Baler market is segmented -

1. By Product: Round Balers, Square Balers.
2. By Industry: Agriculture, Livestock, and Other Industries
3. By Size: Bound with Twine, Strapping, Netting, or Wire
4. By Application: Hay Compressing, Straw Compressing, Cotton Compressing, Other Applications
5. By End Use: Individual, Commercial
6. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Baler market.

The Business Research Company's "Global Baler Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Baler Market Include:

1. Executive Summary
2. Baler Market Characteristics
3. Baler Market Trends And Strategies
4. Baler Market - Macro Economic Scenario
5. Baler Market Size And Growth
……
26. Africa Baler Market
27. Baler Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Baler Market
29. Baler Market Future Outlook and Potential Analysis
30. Appendix

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