Global Bale Handling Equipment Market 2019-2023
About this market
Bale handling is one of the significant post-harvest activities in agricultural fields. Efficient bale handling helps farmers to avoid forage losses in fields. Proper bale handling enables bales to retain the oxygen-free condition throughout the entire storage period, and the silage is perfectly preserved until it is feed-out. Furthermore, silage bales also provide the convenience of easy transportation to various locations. Bale handling also helps in performing baling with high moisture content to reduce leaf loss and provides high-quality protein. Moreover, end-users of bales such as livestock farmers also prefer high-quality bales for feeding purpose, which include desired moisture level, more favorable fermentation in terms of sugar content than in wetter material and minimized seepage losses. Therefore, the growing focus of farmers on reducing forage losses in fields may drive the market growth of bale handling equipment during the forecast period. Technavio’s analysts have predicted that the bale handling equipment market will register a CAGR of almost 5% by 2023.
Growing farmer's inclination toward high- quality feed options
The bale handling equipment provides more benefits to small and part-time farmers. The baling of silage can be treated as an alternative to dry hay for livestock farmers. Hence, the growing inclination of farmers toward convenient feed options may increase the bale handling activities in agricultural fields, which, in turn, may drive the global bale handling equipment market during the forecast period.
Impact of climate change on hay production
Agricultural production is directly dependent on climate variables such as temperature. An increase in temperature can reduce the yields of forage crops. Unfavorable climate change negatively affects forage crop production. Hence, reduction in hay production in various countries will negatively impact the demand for agricultural equipment such as bale handling equipment during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the bale handling equipment market during the 2019-2023, view our report.
The market appears to be fairly fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Bale Handling Equipment Market 2019-2023
Technavio recognizes the following companies as the key players in the global bale handling equipment market: Alamo Group Inc., Deere & Company, KUBOTA Corporation, McHale, Vermeer Corporation.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the growing popularity of large – sized bale handling equipment.”
According to the report, one of the major drivers for this market is the growing farmers inclination toward high- quality feed option.
Further, the report states that one of the major factors hindering the growth of this market is the high prevalence of silage stacks may reduce the demand for baled stack and thereby hinder the potential growth of the market.
Alamo Group Inc.
Deere & Company
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