Global Baler Market Size, Share And Growth Analysis For 2024-2033
The Business Research Company’s Baler Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, October 8, 2024 /EINPresswire.com/ -- The baler market has experienced robust growth in recent years, expanding 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.
What Is The Estimated Market Size Of The Global Baler Market And Its Annual Growth Rate?
The baler market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Baler Market
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.
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Which Market Players Are Steering the Baler Market Growth?
Key players in the market include 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.
What Are the Dominant Trends in Baler Market Overview?
Major companies operating in the market are focusing on innovative products such as connected 1 series round balers to drive revenues in their market. Connected 1 series round balers that are networked, with modern sensors and automated technology to enhance baling processes, as well as new technology to document bale moisture and weight while in the field.
How Is The Global Baler Market 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
Geographical Insights: Asia-Pacific Leading The Baler Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Baler Market Definition
The baler refers to a piece of farm equipment used to compact a harvest that has been scraped and sliced into manageable, transportable, and practical bales for storage. Bales can be rectangular or cylindrical, of varied diameters, wrapped with twine, strapping, netting, or wire, and produced by various types of balers, each of which is frequently employed. Additionally, industrial balers are used in material recycling plants, typically for the transportation of metal, plastic, or paper bales.
Baler Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global baler market report covering trends, opportunities, strategies, and more
The Baler Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on baler market size, baler market drivers and trends, baler market major players and baler market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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