the global baling press market size was estimated at $1,104.2 million in 2020 and reach 1,462.92 million USD in 2027, registering a CAGR of 4.8% during the forecast period, 2021-2027. The global agricultural baler market is driven by major factors such as increasing automation in agriculture and increase in grain production. Rapid growth in the world’s population is driving food demand, so manufacturers are constantly innovating and developing new products to meet growing demand and maintain global market share.
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Factors Impacting the Performance of the Global Baling Press Industry Over the Forecast Period:
- The increase in regional demand is attributed to growing investments by government and equipment manufacturers in advanced mechanization in the agricultural sector.
- The growing need for technological developments in the agricultural sector is largely responsible for the growth of the baler market.
- Strong economic growth is expected to boost the baling press market growth in developed regions. On the other hand, Middle East & Africa is also expected to boost the agricultural baler market in the near future.
- The lack of technical know-how associated with the maintenance of balers makes it difficult for many farmers to adopt balers, which is one of the main obstacles in the baler market.
- The high purchase price and maintenance costs defy the growth of the market, which hampers the market economy during the forecast period.
Impact of COVID-19 on the Baler market:
Baler markets have had a major impact on the global COVID-19 outbreak. Due to the pandemic, the government and other local authorities have imposed total lockdown in the severely affected areas which has disrupted the supply and demand channel, which has severely hampered the growth of the market. Due to these severe conditions and dwindling manpower in the manufacturing sector, the baler market is in freefall with less productivity at the start of the lockdown. On the other half of the pandemic, the situation is less bad and the market should grow faster, overcoming previous losses.
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The report outlines the study of the global Baling Presses market based on type, product, and application.
Based on Type, the Baling Press Market has been segmented into –
- Round balers
- Square balers
On the basis of product, the baling press market has been segmented into –
Based on Application, the Baling Press Market has been segmented into –
- Hay compression
- cotton compression
- straw compression
- silage compression
Baling Press Market: Regional Outlook
Based on region, the global baling press market has been segmented into five geographical regions namely North America, Asia-Pacific, Europe, South America, Middle East and Africa. In 2020, Asia-Pacific held the largest share of the total global baling press market, followed by North America and Europe. Moreover, North America is expected to project the highest CAGR in the world during the forecast period.
Leading Competitors in the Global Presses Market include-
The global baling press market is highly fragmented with the presence of a large number of small players across the globe. The baler industry operating in the global market is –
- Mc Hale
- CLASS KGaA mbH
- Krone NA Co.
- Vemeer Company
- Deer & Company
- Kartar Agro Industries Pvt. ltd.
- Takakita Co. Ltd.
- New Holland
- IHI Company
- International Baler Corporation
- KUHN S.A.
The Baling Press market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of industry/regional outlook with market player’s presence in the respective segment and region/country. The information concluded in the report includes the entries.
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The Baling Press Market Report Covers Comprehensive Analysis on:
- Market Segmentation and Regional Analysis
- 10 year market size
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- Porter’s Five Forces and Value Chain Analysis
- Analysis of developed and emerging economies
- PEST analysis
- Factor analysis of the market and forecasts
- Opportunities, risks and market trends
- Conclusion and recommendation
- Regulatory landscape
- Patent Analysis
- Competition Landscape
- More than 15 company profiles
Regional Ball Market Analysis Includes:
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA
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Press market: target audience
- Press production companies
- Baler Distributors & Suppliers
- Traders and exporters
- Government associations and regulatory bodies
- Packaging manufacturers, suppliers and distributors