10-Sep-2020 | Facts and Factors
Findings from Facts and Factors report “Square Baler Market By Type (Large Scale, Middle Scale, and Small Scale); By Product Type (Two String Baler, Three String Baler, and Others); By Application (Agriculture, Livestock, and Others); By Sales Channel (Direct, Distribution): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global square baler market in 2019 was approximately USD 243.15 Million. The market is expected to grow at a CAGR of 3.4% and is anticipated to reach around USD 302.62 Million by 2026.
A square bale is a material compressing machine for the fast handling and transportation of compact bales. The square balers are pulled behind and powered by the tractor. These balers are used in both the industrial and agricultural businesses. The components of square balers are hydraulic cylinders, tires, pumps, wheels, and belts. Belts and tires are made of nylon or polyester. There are different types of square balers that produce large, small, and medium size bales as per the requirements of the customer. Due to their efficient speed and productiveness, square bundles are strongly favored. Mostly, the balers are used for agricultural purposes such hay compressing, straw compressing, and cotton compressing, amongst others. These balers are used to save time and money.
Browse the full “Square Baler Market By Type (Large Scale, Middle Scale, and Small Scale); By Product Type (Two String Baler, Three String Baler, and Others); By Application (Agriculture, Livestock, and Others); By Sales Channel (Direct, Distribution): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” https://www.fnfresearch.com/square-baler-market-by-type-large-scale-middle-1296
Increasing automation in agriculture, and government subsidies and low costs of farm equipments are the some high impacting factors that are triggering the square baler market demand over the past few years. Moreover, a gradual increase in population across the globe is boosting the sales of square baler machines. For instance, as per survey, in 2019, the global population increased by approximately 1.07 percent compared to the year of 2018. As a result, it is accelerating the agricultural productions over the last few years, which in turn propelling the requirements for square baler machines as it easily eliminates land from waste and helps farmers to plant new seeds. However, high maintenance costs of square baler machines may restrain the market growth globally. Furthermore, use of automated machinery in agricultural activities is anticipated to influence the global square baler market during the forecast years.
The global square baler market has been segmented into type, product type, application, and sales channel. The type has been classified into large scale, middle scale, and small scale. The large scale type holds the largest market revenue in global square baler market and anticipated to be the fastest growing market over the forecast period. The product type has been bifurcated into two string baler, three string baler and others. The others segment comprises four and six string balers. These two types are primarily present in large square baler due to which this segment is dominating the market growth in recent years in terms of volume. Based on the application, the market has been fragmented into agriculture, livestock industry, and others. The agriculture application hunks the major markets share. The square baler has been marketed through direct and distribution channel. The distribution segment is expected to be the fastest growing segment during the forecast timeline as manufacturers are having strong dealership networks to market and sell their products in various geographies.
Based on the geography, the global square baler market has been analyzed into North America, Europe, Asia Pacific, Latin America, Middle-east and Africa. North America and Europe held major share in the global square baler market. North America and Europe are the leading the market among the other regions. Asia Pacific and South America are emerging as the fastest growing markets for square balers. Strong economic growth is expected to drive the markets of these regions. Middle East & Africa is also projected to drive the square baler market in the near future.
Some of the important market players in the global square baler market are John Deere, IHI Corporation, Krone, CLAAS, KUHN Group, ACGO Corporation, CNH Industrial, ABBRIATA s.r.l., Agromaster Agricultural Machinery, Tirth Agro Technology Pvt. Ltd. (SHAKTIMAN”), FIELDKING, and Cicoria S.r.l. amongst others.
This report segments the global Square Baler market as follows:
Global Square Baler Market: By Type Segmentation Analysis (Customizable)
Global Square Baler Market: By Product Type Segmentation Analysis (Customizable)
Global Square Baler Market: By Application Segmentation Analysis (Customizable)
Global Square Baler Market: By Sales Channel Segmentation Analysis (Customizable)
Global Square Baler Market: Regional Segmentation Analysis (Customizable)
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