Global Balers Market, By Type (Round Balers, Square Balers {Small Square Balers, Large Square Balers}), By Application (Offline, Online) and opportunities and forecast 2020-2027.
Balers Market Overview
Rapid technological advancements by major players in agriculture machinery, increasing government spending on the agriculture sector, and specialise in increasing the operational efficiency of the farming activities are expected to increase demand for balers which is a major factor expected to drive the expansion of the worldwide market. Players across the world are investing high for development their approach towards the event of advanced products so as to ease the farming activities is predicted to impact the market. CLAAS global manufacturer of agricultural machinery launched advanced straw balers MARKANT 650 high-pressure square baler. Additionally, the corporate also launched ROLLANT 520RF round baler within the Indian market. This product launch in 2020 is predicted to assist the corporate to reinforce its business within the Indian market and increasing its revenue share. Additionally, Kubota Corporation a tractor and heavy equipment manufacturer launched the BV4580 round baler that's the very best capacity baler of Kubota’s popular round baler line. This product launch is predicted to assist the company to reinforce the product portfolio.
Increasing business development activities through acquisitions and partnerships is predicted to support the expansion of balers market. SICON America an equipment manufacturer partnered with Aymas Recycling Machinery in 2020 so as to supply that firm’s balers, briquette machines, and incline shears to its current and prospective customers. This is often expected to assist the corporate to reinforce the customer base and increase revenue share. Manufacturers are inclining towards shifting the manufacturing units to developing countries thanks to the straightforward availability of raw materials and low cost labour. Changing government policies and high spending on sector development is attracting players across the world. India’s agriculture budget doubled over five years to Rs 57,600 crore in 2018-’19 under the National Democratic Alliance government.
Factors like high costs related to machinery and maintenance and high initial capital investment are expected to hamper the expansion of the worldwide balers market. Additionally, the supply of machinery rental options is predicted to challenge the expansion of the target market. However, factors like player’s investment for the event of autonomous machinery and swift inclination towards the adoption of electrical vehicles are expected to make new opportunities for players operating within the target market. With the arrival of electrical technology within the automotive sector, manufacturers are focused on development of smart vehicles and are eco-friendly. Additionally, increasing specialise in strengthening the channel is predicted to support the revenue transaction of the balers market.
Covid-19 Impact on Balers Market: In addition, the current xx Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the xx Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which include supply shortages, panic buying and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
Balers Market Segment OverviewBalers market fragmented in by type and by application. By Type, Round balers are very popular among farmers as they are easy to use and need lesser operation adjustments. Additionally, round balers produce bales with higher weather resistance than square bales, making them a preferred choice among farmers who got to store bales for a more extended period.
The square balers segment is further segmented into two types, namely small and enormous square balers. Small square balers accounted for 59.76% share of the entire square balers’ shipments in 2019. However, attributable to their high purchase price, large square balers held a larger revenue share in 2019. Large square balers are extensively utilized in large-sized livestock farms as they supply operational efficiency.
Market Analysis, Insights and Forecast – By Type
- Round Balers
- Square Balers
- Small Square Balers
- Large Square Balers
Market Analysis, Insights and Forecast – By Distribution Channel
· Offline
· Online
Balers Market Regional OverviewRegion-wise, in terms of regions, the market within the Asia Pacific is predicted to account for major revenue share within the global baler market because of the flourishing agriculture sector within the region. Additionally, government spending on the development of the agriculture sector is increasing and therefore the introduction of innovative solutions from manufacturers is factors expected to spice up the growth of the baler market.
Balers Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Balers Market Competitor overviewSome key developments and strategies adopted by manufacturers in the Balers are highlighted below.
· In April 2020, CLAAS KGaA mbH announced its new product range, called ROLLANT fixed chamber round balers, within the baler market. The balers feature new rollers with a more robust chassis and therefore the choice of net or film wrapping.
· In July 2019 Kuhn SAS launched VB 7100 series high-performance round balers, especially for contractors and huge farmers looking for a high-performance baler capable of making dense bales.
Balers Market, Key Players· AGCO Corporation
· CLAAS KGaA mbH
· CNH Industrial N.V.
· Deere & Company
· IHI Corporation
· Kuhn SAS
· Kubota Corporation
