PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587740
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587740
According to Stratistics MRC, the Global Baler Market is accounted for $5.04 billion in 2024 and is expected to reach $8.73 billion by 2030 growing at a CAGR of 9.6% during the forecast period. A baler is a type of agricultural machinery designed to compress and bind cut crop materials, such as hay or straw, into compact bales for easier handling, transport, and storage. These machines can produce various bale shapes, including rectangular and round, depending on their design. The bales produced are typically tied with twine or wire, making them manageable and conducive for transportation. Balers play a crucial role in modern farming, significantly enhancing efficiency in crop processing
According to the Ministry of Agriculture and Farmers Welfare (India), more than 288 million MT of cereals were estimated to be produced in India at the end of the financial year 2022. According to World Bank data, the percentage of people employed decreased for several years. In 2017 the percentage of people employed in agriculture was 44% which fell to 41.4% in 2020.
Rising agricultural activities
Numerous important elements are driving the increase of agricultural activity in the baler sector. Balers are crucial for compacting and storing products like hay and straw since increased farming mechanization boosts productivity and efficiency. This need is further fuelled by the rising need for livestock feed, since balers assist farmers in guaranteeing a steady supply of fodder. Investments in cutting-edge baling technology are also encouraged by government programs that support sustainable farming methods. The market is expected to develop significantly as more farmers realize how beneficial balers are for controlling crop leftovers and enhancing storage, especially in areas where the agricultural sector is booming.
Lack of skilled labour
Operating balers, particularly sophisticated, automated ones, requires skilled workers, which presents difficulties for the baler business. Balers require sophisticated equipment and certain operating procedures, such as modifying settings for various materials, guaranteeing safe operation, and carrying out regular maintenance. It can be challenging to locate qualified operators in industries like waste management and agriculture, especially in underserved or rural areas. Because businesses may need to spend money on training programs, this skill gap can reduce productivity, raise safety concerns, and increase labour expenses. Thus, the need for labour skills serves as a hurdle, especially for smaller companies that want to use baler technology.
Increased demand for biomass energy
The growing need for biomass energy is helping the baler business because balers are essential to turning biomass into small, portable bales. The sustainability and carbon neutrality of biomass, which is produced from forestry by-products, agricultural waste, and other organic materials, make it a growingly attractive renewable energy source. These materials can be handled and stored effectively thanks to balers, which makes them perfect for use in biomass power plants. The demand for balers to process biomass for energy production is anticipated to propel the baler market's substantial rise as governments and businesses prioritize renewable energy sources to fight climate change.
Low adoption in developing regions
In developing nations, the baler has poor adoption rates because of a number of infrastructure and economic issues. Small and medium-sized businesses find it more difficult to use balers due to their high initial investment requirements, especially in economies that rely heavily on agriculture and have limited financial resources. Adoption is further hampered by a lack of technical expertise and a lack of understanding regarding the long-term efficiency advantages of balers. Low utilization is also a result of infrastructure problems, such as insufficient power for big machines. Many firms in developing nations continue to use manual processes in the absence of supportive government policies or subsidies, which slows the expansion of the baler industry in these areas.
Covid-19 Impact
The COVID-19 pandemic had a major effect on the baler market, mostly because of lockdowns that disrupted the supply chain and shut down manufacturing. Delays at manufacturing plants led to a shortage of balers, which impacted project schedules and sales. The issue was further complicated by field operations being hampered by labour shortages in agriculture. The demand for balers, however, gradually increased as farmers looked to increase output and guarantee food security as constraints started to loosen and there was a renewed emphasis on mechanization and efficiency in farming methods.
The horizontal balers segment is expected to be the largest during the forecast period
The horizontal balers segment is estimated to be the largest, due to their effectiveness and adaptability; horizontal balers are being utilized more and more in a variety of industries. The increasing need for trash management and recycling is one of the main factors driving the market for horizontal balers. In industrial scenarios, horizontal balers are also used to bale a variety of commodities, such as agricultural by-products, scrap metal, and textile waste. Horizontal balers are a vital instrument for effective waste management and industrial processes because of their capacity to handle enormous volumes of materials and create high-density bales.
The manufacturing segment is expected to have the highest CAGR during the forecast period
The manufacturing segment is anticipated to witness the highest CAGR during the forecast period, due to rising need, especially in urbanized and industrialized areas, for effective agricultural and waste management solutions. Automation and energy-efficient designs are two examples of technological innovations that are increasing the effectiveness and cost-effectiveness of balers and drawing in companies from a variety of industries. Additionally, industry is encouraged to reach recycling and waste reduction targets by sustainability efforts and more stringent environmental legislation.
Asia Pacific is expected to have the largest market share during the forecast period due to urbanization, fast industrialization, and an increasing emphasis on effective waste management. The need for balers to handle crop residue and promote sustainable practices is increased by the growth of agricultural operations in nations like China, India, and Japan. A positive market environment is also produced by expanding recycling programs and laws encouraging trash reduction. Growing need for innovative baler solutions is also a result of the region's expanding livestock farming and biomass energy generation.
North America is projected to witness the highest CAGR over the forecast period, owing to the focus on environmentally friendly recycling and trash management techniques. The need for balers to effectively process hay, straw, and other crop residue is being driven by rising agricultural productivity, especially in the United States and Canada. Waste management firms and farmers are drawn to technological innovations like automated and energy-efficient balers. Strict environmental laws and incentives for recycling and the production of biomass energy also support market expansion by motivating businesses to spend money on effective baling systems.
Key players in the market
Some of the key players profiled in the Baler Market include Abbriata SRL, AGCO Corporation, Case IH Agriculture, Claas Group, Foton Lovol International Heavy Industry Co. Ltd., Hesston by Massey Ferguson, IHI Corporation, John Deere, Krone NA, Inc., Kubota Corporation, Kuhn Group, Mainero, McHale Engineering, New Holland Agriculture, and Vermeer Corporation.
In January 2024, New Holland launched Autonomous Bailing Technology. A novel technology, IntelliSense Bale Automation reportedly transforms the way customers and operators approach large square baling by delivering an automated solution for farmers.
In August 2023, John Deere launched new connected 1 Series round balers. John Deere's new 1 Series round balers are built with new technology to document bale moisture and weight while in the field and are designed to help farmers increase efficiency and return on investment.
In June 2023, Orwak launched a new series of balers. The new models 3075 & 3150 complement the other members of the COMPACT family well in size and capacity and produce impressive bales that are optimized logistically. The 3075 generates bale weights up to 70 kg and two bales fit perfectly on a Euro pallet.