GVR Report cover Baler Market Size, Share & Trends Report

Baler Market Size, Share & Trends Analysis Report By Product (Round Balers, Square Balers), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2020 - 2027

  • Report ID: GVR-4-68039-262-8
  • Number of Report Pages: 101
  • Format: PDF, Horizon Databook
  • Historical Range: 2016 - 2018
  • Forecast Period: 2020 - 2027 
  • Industry: Technology

Report Overview

The global baler market size was valued at USD 5.1 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 8.9% from 2020 to 2027. Balers are used for bailing hay and compressing raked and cut crop. Technological advancements in the agricultural industry aimed at improving the farm yield and fulfilling the increasing demand for food are driving the market. Additionally, a surge in demand for balers from the Asia Pacific region is expected to drive the market over the forecast period. The demand for balers is anticipated to gain momentum owing to the growing adoption of livestock farming across the globe. Rapid urbanization, rise in disposable incomes, and change in lifestyles and dietary habits are the factors responsible for globally growing livestock production.

Asia Pacific baler market size, by product, 2016 - 2027 (USD Million)

Agricultural balers play a crucial role in ensuring feed supply for livestock animals. Similarly, they provide added convenience to the farmers by aiding transportation, storing straw and hays, and ensuring enough fodder for the livestock. The aforementioned benefits of balers in livestock farming are encouraging livestock farmers to opt for agricultural balers.

Rising demand from the Asia Pacific is anticipated to be a prominent factor in augmenting market growth in the next seven years. The increasing regional demand is attributed to the growing investments by the government and OEMs in developing advanced mechanization in the agriculture sector in India, Australia, and Southeast Asia. The growing need for technological developments in the agricultural sector is also responsible for driving the regional market.

Although the market is experiencing an increase in baler demand, high purchase price and maintenance cost pose a challenge to market growth. Farmers from developing countries, such as India and China, find it challenging to afford agriculture balers owing to their high initial costs, especially large balers. Moreover, lack of technical know-how associated with balers' maintenance makes it difficult for some farmers to adopt balers. For instance, while using round balers, the silage bales are labor-intensive and require a well-designed feeder process. Moreover, if the hay is too dry, the straw of crops loosens up and takes time for cleaning the equipment.

The outbreak of the COVID-19 pandemic led numerous countries to impose strict lockdown measures. The market experienced a slight slump in the year 2020 due to the COVID-19 pandemic spread across the globe. The first quarter of the year was characterized by a complete shutdown of production plants across China, Europe, and the U.S. As a result, the market experienced reduced sales across the globe. Although the companies have started operations, the market is expected to have lower sales throughout the year. However, recent results published by companies operating in the market suggest that the market is poised for an early resurgence and may continue to grow at a steady pace starting 2021.

Product Insights

The round balers segment held the largest share of 55.2% in terms of revenue in 2019. This is attributed to the lower power requirement of mini round bales as compared to the square balers. Round balers are very popular among farmers as they are easy to use and require lesser operation adjustments. Additionally, round balers produce bales with higher weather resistance than square bales, making them a preferred choice among farmers who need to store bales for a more extended period.

Global baler market share, by product, 2019 (%)

The square balers segment is further segmented into two types, namely small and large square balers. Small square balers accounted for 59.76% share of the total square balers’ shipments in 2019. However, owing to their high purchase price, large square balers held a larger revenue share in 2019. Large square balers are extensively used in large-sized livestock farms as they provide operational efficiency.

Regional Insights

Asia Pacific accounted for the largest revenue share of 36.7% in 2019. This share is attributed to the presence of key market players, such as IHI Corporation, Kubota Corporation, and Mahindra & Mahindra Limited, in the region. The growing livestock farming across this region is anticipated to fuel the market growth during the forecast period. The large agricultural land area and growing mechanization of agricultural processes are the factors responsible for the rise in demand for balers in the regional market.

The European market held a substantial volume share in 2019. Initiatives undertaken by the government to promote machinery usage in agriculture are driving the demand for balers in this region. Companies such as CLAAS KGaA mbH, CNH Industrial N.V., Kuhn SAS, Maschinenfabrik Bernard Krone GmbH, and Same Deutz-Fahr Group S.p.A. are contributing to the growth of the market in this region. Large farming sizes and technological advancements in agriculture are also anticipated to upkeep the regional market growth over the forecast period.

Key Companies & Market Share Insights

The market is characterized by intense competition among the key players that have a widespread global presence. In order to sustain competition, market players are opting for inorganic growth strategies, such as mergers & acquisitions, to enhance their product portfolio. For instance, in November 2019 CNH Industrial AV acquired K-Line AG, an Australian agricultural implement manufacturer. The acquisition enabled CNH Industrial AV's brands' Case IH and New Holland Agriculture to enhance their agriculture product portfolios.

In addition to acquiring companies, key baler manufacturers are indulging in developing new products that offer enhanced features compared to competitors' products. For instance, in April 2020, CLAAS KGaA mbH announced its new product range, called ROLLANT fixed chamber round balers, in the baler market. The balers feature new rollers with a more robust chassis and the choice of net or film wrapping. Similarly, in July 2019 Kuhn SAS launched VB 7100 series high-performance round balers, especially for contractors and large farmers looking for a high-performance baler capable of creating dense bales. Some prominent players in the global baler market include:

  • AGCO Corporation

  • CLAAS KGaA mbH

  • CNH Industrial N.V.

  • Deere & Company

  • IHI Corporation

  • Kuhn SAS

  • Kubota Corporation

Baler Market Report Scope

Report Attribute


Market size value in 2020

USD 4.9 billion

Revenue forecast in 2027

USD 8.9 billion

Revenue Growth Rate

CAGR of 8.9% from 2020 to 2027

Market demand in 2020

62,085 units

Volume forecast in 2027

121,811 units

Volume Growth Rate

CAGR of 10.1% from 2020 to 2027

Base year for estimation


Historic Data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million/billion, volume in units, and CAGR from 2020 to 2027

Report coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments covered

Product, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; China; India; Japan; Brazil; Mexico

Key Companies Profiled

AGCO Corporation; CLAAS KGaA mbH; CNH Industrial N.V.; Deere & Company; IHI Corporation; Kuhn SAS; Kubota Corporation; Maschinenfabrik Bernard Krone GmbH; Mahindra & Mahindra Limited

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Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities from 2016 to 2027 in each of the sub-segments. For the purpose of this study, Grand View Research has segmented the global baler market report based on product and region:

  • Product Outlook (Volume, Units; Revenue, USD Million, 2016 - 2027)

    • Round Balers

    • Square Balers

      • Small Square Balers

      • Large Square Balers

  • Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

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