Agriculture Baler Market: Introduction
- A agriculture baler also known as hay baler is a piece of farm machinery used to compress a cut and raked crop such as cotton, hay, flax straw, salt marsh hay, or silage into compact bales that are easy to store, handle, and transport. Moreover, bales are used to dry and preserve the nutritional value of the plants bundled. Different types of balers are used and each produces different types of bale such as cylindrical or rectangular, bound with strapping, twine, netting, or wire.
Key Drivers of the Global Agriculture Baler Market
- Increasing population is one of the major factors driving the growth of food production around the world, which increases the usage of advanced agriculture machinery. Powered or advanced agriculture equipment is replacing traditional agricultural methods due to availability of highly innovative and advanced products. Other factors such as labor shortage, ease of financing, government initiatives in the form of financing schemes, subsidies, and low import duties, rising income levels of rural households, and emergence of contract farming are enabling farmers to obtain benefits of training, technology, and easy financing. These factors are contributing to the growth of the agriculture baler market around the world.
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Factor Restraining the Global Agriculture Baler Market
- Large capital investment is required initially that may restrict small farmers from investing in agriculture balers. This, along with the low penetration rate of agriculture equipment may hinder the market growth in developing countries.
Market in Asia Pacific to Expand Rapidly
- In terms of region, the global agriculture baler market can be divided into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the agriculture baler market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the agriculture baler market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America agriculture baler market is segmented into Brazil, and Rest of South America.
- North America accounted for largest share of the global agriculture baler market due to the presence large producers of corn, wheat, and soy which is driving the demand for agriculture equipment in the region. Canada and the U.S. are major contributors to the growth of the agriculture baler market in the North America market.
- The agriculture baler market in Asia Pacific is projected to expand rapidly during the forecast period due to the increasing food productivity in the region. Asia is the most populated region globally, which faces issues of food shortage that leads to increase in food production. China and India are majorly agriculture-based countries; subsidies given by central and state governments encourage farmers to invest in agriculture equipment. This is expected to expand the agriculture baler market in the Asia Pacific region.
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Key Players Operating in the Global Market
Manufacturers in the agriculture baler market are focusing on becoming more proficient and developing advanced equipment which enhances their competitive advantage and market share globally. Companies are concentrating on generating public awareness about their existing and new products & technologies. Moreover, they are strategizing on collaborations and partnerships to compete with the product portfolio of competitors.
A few of the key players operating in the global agriculture baler market are:
- AGCO (Hesston)
- CLAAS KGaA mbH
- Deere & Company
- IHI Corporation
- International Baler
- KARTAR Agro Industries Private Limited
- Krone NA, Inc.
- KUHN SAS
- Vermeer Corporation
Global Agriculture Baler Market: Research Scope
Global Agriculture Baler Market, by Type
- Small Square Baler
- Large Square Baler
- Round Baler
Global Agriculture Baler Market, by End-use
Global Agriculture Baler Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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