According to IMARC Group’s latest report, Agricultural Haying and Forage Machinery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market grew at a CAGR of around 6% during 2015-2020. 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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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 (R&D) 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. Looking forward, IMARC Group expects the global agricultural haying and forage machinery market to continue its robust growth during the forecast period (2021-2026).
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- AGCO Corporation
- 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.
Breakup by Machinery Type:
- Forage Harvestors
- 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, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- 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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