The Baler Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company’s comprehensive Baler Global Market Report for 2024, the trajectory of the baler market exhibits robust growth, surging from $4.22 billion in 2023 to an anticipated $4.57 billion in 2024, demonstrating a noteworthy compound annual growth rate (CAGR) of 8.2%. This expansion during the historical period is attributed to the burgeoning demand for waste management solutions, evolving agricultural practices, the pivotal role in the paper and pulp industry, operational efficiency yielding labor savings, coupled with the burgeoning dairy and livestock sector, all underlined by a heightened environmental awareness.
Projections for the forthcoming years further underscore the industry’s resilience, with the baler market size anticipated to witness formidable growth, reaching $6.24 billion by 2028, propelled by an 8.1% CAGR. This foresight is grounded in the continued resonance of circular economy initiatives, the escalating demand for recyclable materials, bioenergy production imperatives, the accelerating pace of urbanization juxtaposed with the concomitant surge in waste generation, and the burgeoning opportunities in emerging markets.
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 .
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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
Top 5 Major Players:
Noteworthy trends set to shape the industry landscape in the forecast period include the pervasive integration of IoT and smart technologies, bespoke customization solutions for diverse materials, the upward trajectory of e-commerce packaging recycling, the expansion of baler rental services, seamless incorporation of conveyor systems, and a concerted drive toward global market expansion.
Technological innovation emerges as a pivotal paradigm in the baler market, with major industry players propelling advancements through focused research and development efforts. A case in point is New Holland Agriculture, a prominent US-based agricultural machinery manufacturer. In a groundbreaking move in March 2022, the company unveiled a premium baler offering, equipped with the cutting-edge Pro-Belt technology. This innovative baler encompasses both a rotor feeder version and a 25-knife rotor cutter version within its variable chamber, offering configurations for maximum bale sizes of 165 cm and 190 cm. Noteworthy features include an automatic greaser, a moisture meter, service lights, and standard compatibility with IntelliBale. The Pro-Belt design places durability at its core, employing fewer chains and rollers compared to its counterparts. This design choice enhances reliability, particularly in high-usage scenarios across diverse crop situations, thanks to its larger rollers, bearings, and sprockets with diamond chains throughout. This technological leap underscores the industry’s commitment to advancing efficiency, sustainability, and meeting the evolving needs of modern agriculture.
1. Executive Summary
2. Baler Market Characteristics
3. Baler Market Trends And Strategies
4. Baler Market – Macro Economic Scenario
5. Global Baler Market Size and Growth
…..
31. Global Baler Market Competitive Benchmarking
32. Global Baler Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Baler Market
34. Baler Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Baler Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Baler Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Baler Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…
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