The global baler market size was US$ 5.4 billion in 2021. The global baler market is forecast to grow to US$ 11.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market

Baler is agricultural equipment that improves the farm yield. The rising demand for food is the primary factor driving the growth of the global baler market.

The rapidly growing rate of world population and surge in agricultural practices will benefit the global baler market in the coming years.

The growing demand for technological developments will offer ample growth opportunities for the global baler market growth. In addition, favourable government policies to boost crop production and support farmers are likely to contribute to the growth of the global baler market.

The lack of technical knowledge among farmers may limit the growth of the global baler market.

Increasing number of partnerships and acquisitions are forecast to surge the growth of the global baler market. For instance, CNH Industrial AV completed the acquisition of K-Line AG in November 2019. K-Line Ag is an Australian agricultural implement manufacturer, which will help CNH Industrial AV's brands' Case IH and New Holland Agriculture to expand their product portfolio.

COVID-19 Impact Analysis

Baler markets witnessed a significant backdrop due to the COVID-19 pandemic. Due to the pandemic, governments of various affected nations imposed a lockdown. Furthermore, various countries also witnessed bans on import-export and international trades. As a result, it hampered the growth of the global balers market.

Manufacturing activities were primarily halted due to the wake of the pandemic. The shortage of raw materials and labour was the key reason behind that. Thus, the manufacturing sector witnessed significant loss, which hampered the growth of the global balers market.

However, the demand for food increased steeply. In various countries, the agriculture segment witnessed significant growth. Thus, the global baler market witnessed a slight recovery in the second half phase of the pandemic.

Regional Analysis

The Asia-Pacific baler market is forecast to grow at the fastest rate. The growth of this market is attributed to the rising agricultural practices and increasing technological advancements. In addition, governments in the region, mainly in India, and China, offer incentives to the farmers to buy products. As a result, it will benefit the regional baler market. Furthermore, the growing population in the region and fluctuations in the hunger index will offer ample growth opportunities for the market.

Competitors in the Market

McHale
CLASS KGaA mbH
Krone NA Co.
Vemeer Corporation
Deer & Company
Kartar Agro Industries Pvt. Ltd.
Takakita Co. Ltd.
New Holland
Hesston
IHI Corporation
International Baler Corporation
KUHN S.A.
Other Prominent Players
Market Segmentation

The global baler market segmentation focuses on Type, Product, Application, and Region.

Based on the type, the baler market has been segmented into

Round Balers
Square Balers
Based on the product, the baler market has been segmented into

Individual
Industrial
Based on the application, the baler Market has been segmented into

Hay Compressing
Cotton Compressing
Straw Compressing
Silage Compressing
Others
Based on the region, the baler Market has been segmented into

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America