Press release
Baler Market Statistics, Share Analysis, Forecast 2024-2033
Baler Market
The Business Research Company presents an extensive market research report on the Baler Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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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Key Market 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
Market Drivers:
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 .
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/baler-global-market-report
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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