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Rising Livestock Population Fuels Demand for Haying Machines: Powering Innovation and Expansion in the Haying Machines Market by 2025
Haying Machines
What Is the Expected CAGR for the Haying Machines Market Through 2025?
The market of haying machines has seen robust growth in the past years. The size of the market is projected to expand from $27.28 billion in 2024 to $28.99 billion in 2025, showing a compound annual growth rate (CAGR) of 6.3%. Factors leading to growth during the historical period include the mechanization of agriculture, enhanced farm productivity, lack of labor, and environmental concerns.
What's the Projected Size of the Global Haying Machines Market by 2029?
The market size of haying machines is poised to experience robust growth in the coming years. Predictions suggest it will amplify to a value of $36.48 billion by 2029, with an annual growth rate (CAGR) of 5.9%. This expected growth in the forecast period is tied to precision agriculture, a heightened demand for forage crops, the incorporation of automation and robotics, effects of climate change, and market growth in developing nations. Noteworthy market trends during this forecast period are advancements in technology, heightened mechanization, alongside increased usage of automation and robotics.
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Top Growth Drivers in the Haying Machines Industry: What's Accelerating the Market?
The haying machines market is predicted to benefit from the surging livestock number in the coming years. The key drivers for livestock population growth are the escalating global demand for meat, dairy, and other animal-based products, coupled with the advancements in animal farming and better veterinary care. Haying machines play a crucial role in livestock production by seamlessly cutting, drying, and bundling hay, which guarantees a consistent supply of top-quality feed, a crucial aspect of maintaining livestock's health and output. For example, the Department of Animal Husbandry and Dairying, a government department in India, estimates that the total livestock population will reach 535.78 million in 2022-23. Therefore, the escalating livestock population is fueling the expansion of the haying machines market.
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What Are the Key Trends Driving Haying Machines Market Growth?
The introduction of numerous technological advancements aimed at enhancing productivity and efficacy is becoming increasingly popular in the haying machines market. For example, New Holland Agriculture, an American agricultural equipment firm, introduced the innovative Discbine PLUS Series in August 2022. The new series improves their productivity and quality, safeguarding valuable feed nutrients in the process. The Discbine PLUS models are characterized by an eye-catching modern design with yellow highlights, indicating their aptness for commercial use. These machines feature a unique agile center-pivot tongue and a traditional swivel gearbox hitch for secure, speedy operation and effortless, hassle-free headland turns.
What Are the Main Segments in the Haying Machines Market?
The haying machinesmarket 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
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 Top Companies are Driving Growth in the Haying Machines Market?
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 Will Dominate the Haying Machines Market Through 2029?
Asia-Pacific was the largest region in the haying machines market in 2024. 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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