AGRICULTURAL BALERS MARKET ANALYSIS

Agricultural Balers MarketSize and Trends

Market Dynamics

• Machinery always saves time & energy and agricultural baler helps in saving both of them in contrast to collecting and storing bales manually. Square baler machinery is preferred over round baler machinery due to their efficient speed and constant work productivity. Agricultural baler offer advantages such as high baling capacity, easy storage of bales, and shaping of hay. Baler machine is able to collect the material and gives maximum tonnage per bale in contrast to collection of hay manually. Baler machine can also make bale from wastage of plastic, paper, fiberboard, foils and cans. These balers are used to save time and money and to decrease the input or labor cost. According to Food and Agricultural Organization (FAO), total agricultural area harvested in 2016, was 718 million hectare and it grew at the rate of 0.8% from 2015. To collect the wastage from such mass area, agricultural balers are required.
• Growth in the production of wheat and other cereal may increase demand for agricultural baler, as it clears out the wastage from the land easily and help farmers to sow new seeds. According to a statistics of Food and Agricultural Organization (FAO), global production of wheat was 749 million tons in 2016, and grew at the rate of 1.7% from 2015.
• However, consumer should take measures before operating the agricultural baler machine, as it is heavy in weight, unsuitable during rainy season, and requires regular maintenance of the machinery. Agricultural baler consumes high amount of energy and its emission of carbon dioxide are also high, and such disadvantages may restraint growth of the agricultural baler market.

Market Outlook

• Among product type, squared shaped balers segment accounted for the highest market share in the Agricultural Balers Market in 2017. This is due to its advantages such as easy formation of bales, maximum tonnage, which occupies less space, and easy handling & transportation of bales. Manually collecting and making bales consumes more time, whereas baler machine helps to provide maximum tonnage and it occupies less storage space. Farmers and agricultural companies prefer this type of product due to its wide acceptance and advantages.
• Among applications, hay compressing segment was dominant in the market in 2017. Hay comprises the maximum amount of wastage after the harvesting of the crop. The segment is projected to have dominant position in the market over the forecast period.
• North America held highest market share in the global Agricultural Balers Market in 2017. The region is projected to maintain its dominance over the forecast period, owing use of modern agricultural tools, large mainland for agriculture, and capital intensive harvesting. According to a report by United States Department of Agriculture in Feb 2018, average farm size in USA has increased from 426 acres to 444 acres during 2010 to 2017.
• Asia Pacific is projected to be the fastest growing region in the market over the forecast period, owing to key factors such as increased acceptance of such agricultural balers by farmers, decreasing input costs, and increasing agricultural activities. Indian government has taken various digital and technological initiatives to help Indian farmers by providing subsidies for purchasing various agricultural machinery. Also, several apps are launched to help farmers such as Kisan Suvidha, Pusa Krishi, and MKisan Application.