The global agricultural haying and forage machinery market size reached US$ 8.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.9 Billion by 2028, exhibiting a growth rate (CAGR) of 2.9% during 2023-2028.
Agricultural haying and forage machinery comprise balers, disc mowers and mower conditioners, forage harvestors, rakes, tedders, blowers, storage boxes, and moisture sensors. It is economical, labor efficient and is available in different sizes and capacities, depending on the requirement of the end users. It turns perishable forage into a dry product that can be safely stored and easily transported. It also reduces the moisture content while keeping dry matter and nutrients losses to a minimum.
The increasing automation in the agriculture industry, in confluence with the rising demand for plant-based feed for animals, represents one of the key factors bolstering the market growth. Apart from this, governing agencies of various countries are introducing initiatives and providing subsidies in the form of direct payments, crop insurance and loan to support farmers. This, along with the growing concerns about food security, is promoting the adoption of agricultural haying and forage machinery to meet the increasing needs of farmers. Furthermore, the market is experiencing growth on account of the emerging trend of precision farming that helps sustain the farm and enables greater adaptability of agricultural haying and forage machinery. Moreover, high labor costs or a lack of labor force is escalating the demand for agricultural haying and forage machinery. Besides this, the leading market players are introducing high-capacity product variants with new features and innovations, which, in turn, is anticipated to provide a positive outlook to the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global agricultural haying and forage machinery market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on machinery type and sales channel.
Breakup by Machinery Type:
- Forage Harvestors
Breakup by Sales Channel:
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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) and Yanmar Company Limited.
|Base Year of the Analysis
||Machinery Type, Sales Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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) and Yanmar Company Limited
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Key Questions Answered in This Report:
- How has the global agricultural haying and forage machinery market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global agricultural haying and forage machinery market?
- What are the key regional markets?
- What is the breakup of the market based on the machinery type?
- What is the breakup of the market based on the sales channel?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global agricultural haying and forage machinery market and who are the key players?
- What is the degree of competition in the industry?