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Projected Surge in Baler Market: Anticipated Growth to $5.67 Billion by 2023-2032 with a Promising CAGR of 7.6% || AGCO Corporation, CLAAS KGaA mbH, CNH Industrial NV, Deere & Company
Baler Market
The Business Research Company's Baler Global Market Report 2023 the growing adoption of livestock farming is the major driver for the baler market's growth in the forecast period. 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. 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.
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, International Baler Corporation, Kubota Corporation, Kuhn SAS, Vemeer Corporation, Maschinenfabrik Bernard Krone GmbH, American Baler Company, Mahindra & Mahindra Limited.
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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https://www.thebusinessresearchcompany.com/report/baler-global-market-report
The baler market is segmented -
• By Product: Round Balers, Square Balers
• By Industry: Agriculture, Livestock, and Other Industries
• By Size: Bound with Twine, Strapping, Netting, or Wire
• By Application: Hay Compressing, Straw Compressing, Cotton Compressing, Other Applications
• By End Use: Individual, Commercial
• 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
……………
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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