Balers Market (By Product Type: Round Balers, Square Balers [Small Square Balers, Large Square Balers]; By Distribution Channel: Offline, Online) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027
![Balers Market (By Product Type: Round Balers, Square Balers [Small Square Balers, Large Square Balers]; By Distribution Channel: Offline, Online) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027](assets/images/format-png.png "Balers Market (By Product Type: Round Balers, Square Balers [Small Square Balers, Large Square Balers]; By Distribution Channel: Offline, Online) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027")
The global balers market is anticipated to grow at a CAGR of around 9.1% during the forecast period 2020 to 2027 and to reach around US$ 10.2 Bn by 2027.
Market Dynamics
Rapid technological advancements by major players in agriculture machinery, increasing government spending on agriculture sector and focus on increasing the operational efficiency of the farming activities is expected to increase demand for balers which is major factor expected to drive the growth of global market. Players across the globe are investing high for product development their approach towards development of advanced product in order to ease the farming activities is expected to impact the market. CLAAS global manufacturer of agricultural machinery launched advanced straw balers MARKANT 650 high- pressure square baler. In addition, the company also launched ROLLANT 520RF round baler in India market. This product launch in 2020 is expected to help the company to enhance the business in India market and increasing the revenue share. In addition, Kubota Corporation a tractor and heavy equipment manufacturer launched BV4580 round baler that is highest capacity baler of Kubota’s popular round baler line. This product launch is expected to help the company to enhance the product portfolio.
Increasing business development activities through acquisitions and partnerships is expected to support the growth of balers market. SICON America an equipment manufacturer partnered with Aymas Recycling Machinery in 2020 in order to offer that firm’s balers, briquette machines and incline shears to its current and prospective customers. This is expected to help the company to enhance the customer base and increase revenue share. Manufacturers are inclining towards shifting the manufacturing units to developing countries due to easy availability of raw material and low cost labor. Changing government policies and high spending on sector development is attracting players across the globe. India’s agriculture budget doubled over five years to Rs 57,600 crore in 2018-’19 under the National Democratic Alliance government.
Factors such as high cost associated to machinery and maintenance and high initial capital investment are expected to hamper the growth of global balers market. In addition, availability of machinery rental option is expected to challenge the growth of target market. However, factors such as player’s investment for development of autonomous machinery and swift inclination towards adoption of electric vehicles are expected to create new opportunities for players operating in the target market. With the advent of electric technology in automotive sector manufacturers are focused on development of smart vehicles and are eco-friendly. In addition, increasing focus on strengthening the distribution channel is expected to support the revenue transaction of balers market.
Segment Analysis by Region
The market in Asia Pacific is expected to account for major revenue share in the global baler market due to flourishing agriculture sector in the region. In addition, government spending on the development of agriculture sector is increasing and introduction of innovative solutions from manufacturers are factors expected to boost the growth of baler market.
Major Player’s inclination towards developing countries in order to track the untapped market and rise in partnership activities are factors expected to support the growth of baler regional market. In addition, favorable business polices by the government and introduction of innovative solutions in order to attract new customers are factors expected to boost the growth of regional market.
Competitive Landscape
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Report coverage
|
Market |
Global Balers Market |
|
Analysis Period |
2016 – 2027 |
|
Base Year |
2019 |
|
Forecast Data |
2020 – 2027 |
|
Market Stratification |
Product Type, Distribution Channel, and Geography |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
|
Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Balers Market Segment Analysis, 2019
The global balers market is segmented into product type and distribution channel. The product type segment is bifurcated into Round Balers and Square Balers. Among the type the round balers is expected to account for major revenue share in the balers market due to rapid technological advancements and easy operation. The distribution channel segment is divided into online and offline. The online segment is expected to witness faster growth in the target market. Players operating in the global balers market are AGCO Corporation; CLAAS KGaA mbH; CNH Industrial N.V.; Deere & Company; IHI Corporation; Kuhn SAS; Kubota Corporation; Maschinenfabrik Bernard Krone GmbH; Mahindra & Mahindra Limited.
Market Segmentation
Market By Product Type
Round Balers
Square Balers
- Small Square Balers
- Large Square Balers
Market By Distribution Channel
Offline
Online
Market By Region
North America
- U.S.
- Canada
Europe
- U.K
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
What will be the market size of global balers market in 2027?
The global balers market in 2027 is expected to be above US$ 10.2 Bn.
What is the CAGR of the global balers market?
The CAGR of the global balers market from 2020-2027 is above 9.1%.
Which segment is growing in distribution channel segment?
In distribution channel the online segment is growing at faster pace.
Which is the major factor expected to drive the global market?
Rapid technological advancements by major players in agriculture machinery, increasing government spending on agriculture sector and focus on increasing the operational efficiency of the farming activities is expected to increase demand for balers which is major factor expected to drive the growth of global baler market.
Which region is expected to grow faster?
In the global market the Asia Pacific region is expected to grow faster.
What are the players considered in the report scope?
Some of the players considered in the report scope are AGCO Corporation; CLAAS KGaA mbH; CNH Industrial N.V.; Deere & Company; IHI Corporation; Kuhn SAS; Kubota Corporation.
Which region is expected to account for major revenue share in the global market?
The Asia Pacific is expected to account for major revenue share in the global market.
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