Square Baler Market Size Predicted to Reach USD 302.62 Million by 2026
According to the report, 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.
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The square baler market research report delivers an acute valuation and taxonomy of the square baler industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the square baler industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the square baler industry is provided for the leading economies of the world.
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 product type has been bifurcated into two string baler, three string baler and others. Based on the application, the market has been fragmented into agriculture, livestock industry, and others.
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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.
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