Press release
Haying Machines Market: Major Trends Reshaping the Future of the Industry
Haying Machines
What Will the Haying Machines Industry Market Size Be by 2025?
The market size for haying machines has seen marked growth in the last few years. We anticipate it to rise from $26.95 billion in 2024 to $28.99 billion in 2025, representing a compound annual growth rate (CAGR) of 7.6%. Factors such as agricultural mechanization, heightened farm productivity, labor scarcity, and environmental issues have contributed to the growth in the historic period.
What's the Long-Term Growth Forecast for the Haying Machines Market Size Through 2029?
The market size of haying machines is forecasted to experience a robust growth in the upcoming years, reaching a value of $36.57 billion by 2029 with a compound annual growth rate (CAGR) of 6.0%. This growth in the projected period can be credited to factors such as precision in agriculture, escalating demand for forage crops, embracing of automation and robotics, the impact of climate change, and market proliferation in developing nations. Predominant trends in the projected period encompass advancements in technology, increased mechanization, and the rise of automation and robotics.
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What Are the Key Growth Drivers Fueling the Haying Machines Market Expansion?
The surge in livestock numbers is predicted to propel the haying machines market's demand throughout the forecast period. The escalation in livestock numbers can be primarily attributed to the escalating global demand for meat, dairy products, and other products derived from animals, combined with advancements in animal rearing techniques and enhanced veterinary care. Haying machines play a crucial role in livestock production by effectively harvesting, drying, and bundling hay, securing a reliable supply of top-quality feed, which is crucial for sustaining livestock health and productivity. For example, the Department of Animal Husbandry and Dairying, a government department based in India, states that the total Livestock population is 535.78 million in between 2022-23. Therefore, the burgeoning livestock population is fueling the expansion of the haying machine market.
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What Are the Key Trends Driving Haying Machines Market Growth?
The introduction of numerous innovations aimed at boosting productivity and efficiency is becoming increasingly popular in the haying machines industry. In an example from August 2022, New Holland Agriculture, an agricultural equipment company based in the US, unveiled the groundbreaking Discbine PLUS Series. This series boosts their production and improves their quality, thereby safeguarding valuable feed nutrients. The Discbine PLUS models boast a distinctive, contemporary look and yellow accentuation, signalling performance fit for commercial applications. These machines also possess an innovative, agile center-pivot tongue and a standard swivel gearbox hitch, ensuring secure, fast operations and easy, hassle-free headland turns.
How Is the Haying Machines Market Segmented?
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), After market
3) By Application: Large Farm, Small and Medium Farm
Subsegments:
1) By Mowers: Disc Mowers, Sickle Bar Mowers, Rotary Mowers
2) By Tedders and Rakes: Two-Rotor Tedders, Four-Rotor Tedders, Wheel Rakes, Rotary Rakes
3) By Balers: Round Balers, Square Balers
4) By Other Machine Types: Hay Conditioners, Forage Harvesters, Bale Wrappers
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Which Companies Are Leading the Charge in Haying Machines Market Innovation?
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.
Which Regions Are Leading the Global Haying Machines Market in Revenue?
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
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