Agricultural Haying and Forage Machinery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Agricultural Haying and Forage Machinery Market Analysis
The agricultural haying and forage machinery market is projected to record a CAGR of 3.80% during the forecast period (2020-2025). The government support to farmers is one of the major factors that is driving the agricultural haying and forage machinery market. Increasing the cultivation of forage crops, especially in North America, acts as one of the major factors behind the growth of the market studied.
Agricultural Haying and Forage Machinery Market Trends
This section covers the major market trends shaping the Agricultural Haying & Forage Machinery Market according to our research experts:
Government Support to Farmers is Driving the Market
The US government provides subsidies to the farmers in the form of direct payments, crop insurance, and loan for farm machinery. The graph represents a negative correlation between farm subsidies and the total net farm income in the United States. This correlation further benefits the farmers to stabilize the investment on farm equipment, including harvesters, whenever the net farm income falls. Moreover, over 95% of agricultural activities are mechanized in Canada. Empirical observations suggest that Canadian farmers buy over USD 2 billion worth of machines and implements annually, including an average of 4,000 grain, at a low-interest rate, combined with harvesters and balers, owing to the loans and credit facilities that help in the purchase of farm equipment in the country. The government subsidies for farm mechanization enhanc the usage of harvesters, thereby allowing the demand for tires to increase in recent years.
North America Dominates the Market
The market demand in North American is led by the United States, the largest agriculture-based country in the region. The country's highly evolved commercial agriculture sector is responsible for around half of the demand. The increasing area under forage crops, like alfalfa, is the main factor that is driving the growth of the market in this region. Advancements in technology have led to the introduction of self-propelled balers, which are equipped with technology that offers unprecedented ride quality and maneuverability. Apart from balers, self-propelled forage harvesters are dominating the market. Moreover, the same trend is projected to register in the future.
Agricultural Haying and Forage Machinery Industry Overview
The agricultural haying and forage machinery market is fairly consolidated, with a few companies holding the majority of the shares in the market. In the fast-growing agricultural haying and forage machinery market, companies are not only competing on the basis of product quality or product promotion but are also focused on making other strategic moves, to acquire greater market share and expand their acquired market size. Companies are investing heavily to develop new series, collaborating with, and acquiring, other companies, which is expected to increase their market shares and strengthen their R&D activities. In October 2017, AGCO Corporation acquired a forage division of Lely Group, New Zealand, a leading manufacturer of equipment, like round balers, rakes, loader wagons, tedders, mowers, and tillage products.
Agricultural Haying and Forage Machinery Market Leaders
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AGCO Corporation
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CLAAS
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Deere & Company (John Deere)
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Krone North America Inc.
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Kubota Corporation
*Disclaimer: Major Players sorted in no particular order
Agricultural Haying and Forage Machinery Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Introduction to Market Drivers and Restraints
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4.3 Market Drivers
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4.4 Market Restraints
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4.5 Industry Attractiveness - Porter's Five Force Analysis
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4.5.1 Bargaining Power of Suppliers
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4.5.2 Bargaining Power of Buyers/Consumers
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4.5.3 Threat of New Entrants
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4.5.4 Threat of Substitute Products
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4.5.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Mowers
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5.1.2 Balers
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5.1.3 Forage Harvesters
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5.1.4 Others
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5.2 Geography
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5.2.1 North America
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5.2.1.1 United States
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5.2.1.2 Canada
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5.2.1.3 Rest of North America
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5.2.2 Europe
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5.2.2.1 Germany
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5.2.2.2 United Kingdom
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5.2.2.3 France
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5.2.2.4 Italy
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5.2.2.5 Rest of Europe
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5.2.3 Asia-Pacific
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5.2.3.1 China
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5.2.3.2 India
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5.2.3.3 Japan
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5.2.3.4 Rest of Asia-Pacific
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5.2.4 South America
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5.2.4.1 Brazil
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5.2.4.2 Argentina
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5.2.4.3 Rest of South America
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5.2.5 Africa
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5.2.5.1 South Africa
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5.2.5.2 Rest of Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Competitor Strategies
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6.2 Market Share Analysis
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6.3 Company Profiles
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6.3.1 AGCO Corporation
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6.3.2 CLAAS
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6.3.3 CNH Industrial
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6.3.4 Deere & Company (John Deere)
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6.3.5 Krone North America Inc.
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6.3.6 Kubota Corporation
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6.3.7 Kuhn Group
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6.3.8 Yanmar Company Limited
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6.3.9 Farm King
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Agricultural Haying and Forage Machinery Industry Segmentation
The global haying and forage machinery market is estimated to grow remarkably during the forecast period. All types of machinery used in fields are considered in the research scope. Also, the market under study involves machinery segmented by geographical regions across the world.
| Type | |
| Mowers | |
| Balers | |
| Forage Harvesters | |
| Others |
| Geography | |||||||
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Agricultural Haying and Forage Machinery Market Research FAQs
What is the current Agricultural Haying and Forage Machinery Market size?
The Agricultural Haying and Forage Machinery Market is projected to register a CAGR of 3.80% during the forecast period (2024-2029)
Who are the key players in Agricultural Haying and Forage Machinery Market?
AGCO Corporation, CLAAS, Deere & Company (John Deere), Krone North America Inc. and Kubota Corporation are the major companies operating in the Agricultural Haying and Forage Machinery Market.
Which is the fastest growing region in Agricultural Haying and Forage Machinery Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Agricultural Haying and Forage Machinery Market?
In 2024, the North America accounts for the largest market share in Agricultural Haying and Forage Machinery Market.
What years does this Agricultural Haying and Forage Machinery Market cover?
The report covers the Agricultural Haying and Forage Machinery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Agricultural Haying and Forage Machinery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Agricultural Haying and Forage Machinery Industry Report
Statistics for the 2024 Agricultural Haying and Forage Machinery market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Agricultural Haying and Forage Machinery analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
