Press release
Haying Machines Global Market will Exceed $36.06 Billion By 2028 with a Projected CAGR of 7.0% | AGCO Corporation, Kuhn Group, Kubota Corporation, Alamo Group Inc., Hesston Corporation
Haying Machines Market
Haying Machines Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $36.06 billion In 2028 At A CAGR Of 7.0% :
The haying machines market size has grown strongly in recent years. It will grow from $25.49 billion in 2023 to $27.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to agricultural mechanization, increased farm productivity, labor shortages, environmental concerns.
The haying machines market size is expected to see strong growth in the next few years. It will grow to $36.06 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to precision agriculture, increasing demand for forage crops, adoption of automation and robotics, climate change impact, market expansion in developing countries. Major trends in the forecast period include technology advancements, increasing mechanization, automation and robotics.
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Haying Machines Market Major Segments
The haying machines market covered in this report is segmented -
1) By Machine Type: Mowers, Tedders And Rakes, Balers, Other Machine Types
2) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
3) By Application: Large Farm, Small and Medium Farm
Key Driver - Growing Livestock Population Boosts Demand For Plant-Based Animal Feed And Haying Machines
Rising demand for plant-based feed for animals is expected to drive demand for the haying machines market over the forecast period. In agriculture, dried grasses and other foliage are used as animal feed. Typical hay crops are timothy, alfalfa, and clover. The rising livestock population is likely to generate a higher demand for plant-based feed for animals. For instance, in May 2022, according to Canada's National Statistical Organization, 22.3 million acres of canola were reported by farms in Canada in 2021, an 8.1% increase from the previous census. 92.9 million acres were used for hay and field crops in total in 2021. Increasing the use of grass-fed, grass-finished beef, and other plant-based feed for animals is likely to propel the growth of the haying machines market.
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Prominent Trend - Innovative Product Launches Drive Efficiency And Productivity In The Haying Machines Market
The launch of various innovations to increase productivity and efficiency is gaining popularity in the haying machines market. For instance, in August 2022, New Holland Agriculture, a US-based agriculture equipment company, launched the innovative Discbine PLUS Series, which raises their output and enhances their quality to protect priceless feed nutrients. The Discbine PLUS versions include a striking, modern appearance and yellow accents to denote performance suitable for commercial use. These vehicles have an innovative, nimble center-pivot tongue and a typical swivel gearbox hitch that enable secure, quick operation and simple, trouble-free headland turns.
Haying Machines Market Players
Major companies operating in the haying machines market include AGCO Corporation, Buhler Industries Inc., Kuhn Group, Kubota Corporation, Deere & Company, CLAAS KGaA mbH, CNH Industrial N.V., IHI Corporation, Pottinger Landtechnik GmbH, Iseki & Co. Ltd., Bernard Krone Holding SE & Co. KG, Bernard Krone Holding GmbH & Co. KG, Kverneland Group GmbH, Lely Industries N.V., Vermeer Corporation, LOVOL Heavy Industry Co. Ltd., Alois Pttinger Maschinenfabrik Ges.m.b.H., Alamo Group Inc., Anderson Group Co. Inc., CNH Industrial America LLC, Enorossi S.r.l., Fella-Werke GmbH, Goweil Maschinenbau GmbH, Hesston Corporation, JF-Stoll Ltd., Daedong-USA Inc., Kuhn North America Inc., Massey Ferguson Ltd.
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Largest And Fastest Growing Region In The Market
The Asia-Pacific was the largest region in the haying machines market in 2023. North America was the second largest region in the haying machines market. The regions covered in the haying machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Haying Machines Market Report Structure
3. Haying Machines Market Trends And Strategies
4. Haying Machines Market - Macro Economic Scenario
5. Haying Machines Market Size And Growth
…..
27. Haying Machines Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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