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Early adoption of balers to perform farm operation saves time and provide required level of efficiency. These
factors are predicted to stimulate market performance of balers in the upcoming years. Increasing demand from
developed economies and developing economies across the globe couple with robust agricultural growth are
prominent factors for sustained market for balers in the recent years.
Increasing investment by industry players for research & development of balers to gain competitive advantage
over their counterparts has led development of innovating products, thus propelling market growth in the last
few years. Numerous initiatives and programs undertaken by the government authorities and private bodies to
promote adoption of advanced farming techniques are expected to offer lucrative market growth for industry
players.
Other factors such as increase in the number of service facilities and training units provided by manufacturers
and presence of large number of distributors/franchisees or direct sales channel in the target regions are
projected to foster market growth over the forecast period. The balers market is broadly categorized into four
major types based on the product type such as smaller square or rectangular baler, small round baler, large
square baler and large round baler. The small round baler is considered as one of the fastest growing segment
in the baler market with substantial revenue generation in the last couple of years.
The baler market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North
America has shown major growth in recent years owing to the rise in the implementation of latest technologies
in the agriculture sector, increase in the approval rate by farmers on individual as well as commercial level, and
existence of well-established infrastructure in the region.
Asia-Pacific region is predicted to hold major market share in the baler market with massive growth in forecast
period. Countries such as India, China, Japan and Singapore are leading the Asia-Pacific market with increasing
awareness about farm equipment, rising agriculture infrastructure, strong economic growth, growing high sales
volume demand, and significant investment by leading industry players considering potential growth
opportunities in the region. The key players in the baler market are Deere & Company Co., CASE Construction
Equipment, Inc., Caterpillar Inc., Kuhn S.A., AGCO Co., Vermeer Co., Claas KGaA mbH, and Krone UK Ltd.
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