According to IMARC Groups latest report, titled Agricultural Haying and Forage Machinery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027, the global agricultural haying and forage machinery market size reached US$ 8.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.7 Billion by 2027, exhibiting a growth rate (CAGR) of 3.1% during 2022-2027.
Haying is the process of transforming perishable and green forage into hay, which can be stored and transported easily without damage. This procedure is performed through an array of haying and forage equipment, which include square balers, mower conditioners, tedders, round balers, disc mowers, rakes, and moisture sensors. These devices help to monitor moisture in forage, reduce manual labor, and are cost-effective.
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Agricultural Haying and Forage Machinery Market Trends:
Rapid automation in the agriculture sector is majorly fueling the global agricultural haying and forage market growth. The escalating demand for plant-based animal feed is further driving the market growth. In addition to this, leading manufacturers are consistently investing in research and development (RD) activities to introduce integrated haying and forage equipment, which is contributing to the market growth. Furthermore, governments of various nations are offering subsidies to farmers as crop insurance and loan for improved farm machinery. This is prompting farmers to employ advanced equipment in farming activities, thereby creating a positive outlook for the market.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- AGCO Corporation
- CLAAS
- CNH Industrial
- Deere Company (John Deere)
- Farm King
- Krone North America Inc. (Bernard Krone Holding Company)
- Kubota Corporation
- Kuhn Group (Bucher Industries AG)
- Yanmar Company Limited.
Key Market Segmentation:
The report has categorized the market based on machinery type and sales channel.
Breakup by Machinery Type:
- Mowers
- Conditioners
- Balers
- Forage Harvestors
- Others
Breakup by Sales Channel:
- OEMs
- Aftermarket
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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