Baler Global Market Report 2024

The global baler market has grown strongly in recent years. It will grow from $4.22 billion in 2023 to $4.57 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The expansion observed during the historical period can be attributed to various factors, including the growing demands for waste management solutions, evolving agricultural practices, the needs of the paper and pulp industry, the efficiency and labor-saving benefits offered by balers, the expansion of the dairy and livestock industry, and the increasing awareness of environmental concerns.

The global baler market is expected to see strong growth in the next few years. It will grow to $6.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be attributed to the rise of circular economy initiatives, the increasing demand for recyclable materials, the expansion of bioenergy production, the impact of urbanization on waste generation, and the emergence of new markets. Key trends expected in the forecast period encompass the integration of IoT (Internet of Things) and smart technologies in balers, customization to handle various materials, the growth of e-commerce packaging recycling, the expansion of baler rental services, the integration of conveyor systems, and the global expansion of the market.

The expansion of the baler market is being propelled by the increasing adoption of livestock farming, a practice involving the raising and domestication of animals. As the demand for meat rises, the need for balers is expected to grow, driven by the burgeoning popularity of livestock farming. For instance, Eurostat reported in 2021 that the European Union had approximately 142 million pigs, 76 million bovine animals, 60 million sheep, and 11 million goats. Specific member states house the majority of the EU's livestock, with France and Spain holding significant portions of the bovine, pig, sheep, and goat populations. These statistics indicate high levels of specialization in livestock husbandry within certain EU member states, signaling the significant role of livestock farming in propelling the baler market's growth.

The surge in demand for ready-to-eat (RTE) food is anticipated to be a driving force behind the growth of the baler market. Ready-to-eat meals, pre-prepared and packaged for immediate consumption without additional cooking, utilize balers for packaging to reduce waste, enhance environmental sustainability, achieve cost savings, ensure improved hygiene, and streamline packaging and processing workflows. Notably, India's Ministry of Commerce & Industry reported a 24% increase in ready-to-eat food exports to $394 million in 2021-22 compared to the previous year, showcasing the escalating demand for RTE foods and its impact on the baler market's growth.

Technological innovation is a pivotal trend gaining traction within the baler market. Key companies are actively pursuing advancements in technology and conducting research to develop sophisticated products. For instance, in March 2022, New Holland Agriculture, a US-based agricultural machinery manufacturer, unveiled a baler equipped with premium Pro-Belt technology. This offering includes both rotor feeder and 25-knife rotor cutter versions with variable chamber configurations for bale sizes of 165 cm and 190 cm. The baler incorporates features such as an automatic greaser, moisture meter, service lights, and IntelliBale compatibility as standard. Its design emphasizes durability by employing fewer chains and rollers than previous models, utilizing larger rollers, bearings, and sprockets with diamond chains, ensuring reliability in various crop scenarios and high annual usage.

Prominent players in the baler market are directing their focus towards pioneering products, such as the connected 1 series round balers, to drive market revenues. These advanced balers are networked and incorporate modern sensors and automated technology aimed at optimizing baling processes. Notably, they introduce innovative capabilities to record bale moisture and weight while operating in the field. For instance, in August 2023, John Deere, a renowned US-based manufacturer of agricultural, construction, and forestry machinery, introduced their connected 1 series round balers. These cutting-edge balers feature state-of-the-art technology enabling farmers to monitor bale moisture and weight directly in the field, significantly enhancing productivity and return on investment. Boasting programmable controls, heightened efficiency, and reduced maintenance requirements, the linked 1 Series round balers are engineered to facilitate productive and efficient agricultural operations.

In August 2021, Kadant Inc., a US-based supplier specializing in high-value engineered systems for process industries, completed the acquisition of Balemaster for $54 million in cash. This strategic move aims to expand Kadant's operations in North America, particularly to support its German-based subsidiaries providing large multi-stream machines to material recovery plants across the nation. Balemaster, a US-based manufacturer, specializes in producing horizontal balers primarily utilized in the recycling industry. This acquisition bolsters Kadant's presence and strengthens its product portfolio, particularly in the realm of recycling equipment, facilitating broader service offerings to cater to diverse industry needs.

Major companies operating in the baler market report are 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

Asia-Pacific was the largest region in the baler market in 2023. The regions covered in the baler market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the baler market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of balers include round balers and square balers. Round balers bind and compress materials into a round shape for storage and transit. They find applications in agriculture, livestock, and other industries, offering various tying options such as twine, strapping, netting, and wire. These balers are used for compressing hay, straw, cotton, and other materials, serving the needs of both individual and commercial end-users.

This report provides baler market statistics, including baler industry global market size, regional shares, competitors with a baler market share, detailed baler market segments, market trends and opportunities, and any further data you may need to thrive in the baler industry. This baler market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The baler market consists of sales of small square balers and large square balers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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