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Hay Making Machinery Market Size, Share & Industry Analysis, By Type (Mower, Balers, Tedder, Rakes) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI103312 | Status : Ongoing

 

KEY MARKET INSIGHTS

The flourishing demand for livestock and livestock products is attracting populace to increase the livestock production, as a result the demand for hay can be increase in foreseeable years which is expected to boost the sale of hay making machinery. Furthermore, the growing hay damage due to usage of inapt drying methods continue to limit hay production worldwide while deprived quality and quantity of hay production. Thus, the usage of hay making machinery has been proposed as a strategy that can help to lessen this problem.


The prominent players in the market are focused on the base expansion, digitalization and mergers and acquisition to increase their footprint in the global market. For instance, in October 2016, CNH Industrial N.V. acquired the agricultural Grass and Soil implement business of Kongskilde Industries. Kongskilde Industries manufactures and sells solutions for agricultural applications in the Tillage, Seeding and Hay & Forage segments under various brands. The acquisition includes a transfer of assets related to the Tillage, Seeding and Hay & Forage activities of Kongskilde Industries.

The rising awareness regarding livestock health and growing preference towards natural and organic animal feed has increased the demand of good quality hay. Therefore, hay producers are inclined towards adoption of advanced hay making machinery to fulfill the increasing demand of hay. Furthermore, machine prepared hay bale have greater aesthetical appeal and marketability which can ensure the high profit margin. Thus, the demand for hay making machinery is expected to increase in upcoming years. The machine prepared hay bale offers ease of transport and handling due to proper texture and shape which is predicted to drive the global market of hay making machinery. The prominent players are embarking on the research and development of cost effective hay making machinery which is expected to positively impact the adoption rate of these machines. In addition, the initiatives taken by several governments to support and increase the hay production are projected to boost the sale of hay making machinery. For instance, in September 2019, an Indian government announced the launch of two mobile apps to rent or buy agricultural machinery. These applications will provide farmers easy access to high value and technical agricultural equipment at their doorstep.

The high cost of hay making machinery and high maintenance cost of some machines are anticipated to hamper the market growth.

Up Arrow

Key Market Driver -

Increasing Production of Plant-based Animal Feed

Down Arrow

Key Market Restraint -

High Price of the Product


Key Players Covered:


The prominent players operating in the global hay making machinery market are CLAAS KGaA mbH, Buhler Industries, Inc. Deer & Company, Farm King, Kubota Corporation, CNH Industrial N.V., AGCO Corporation, Vermeer Corporation, Yanmar Company Limited, Krone North America Inc, and Others

The rotary disk mower is one of the most preferred machine in recent years due to its effectiveness and easy of application. The machine requires less time to cut forage than other mower due to the higher mowing capacity, which sets it apart from other the mowers. This aforementioned factor is predicted to increase the hay producer’s interest in rotary disk mower regardless of its high cost. Moreover, the sale of balers is predicted to increase in forthcoming years as the demand and marketability of neat and tidy hay bale is increased in the last few years.

Regional Analysis:


North America is predicted to hold significant share in the global market. The buyer’s inclination towards organic food and feed products, increasing consumer demand for dairy and animal products, and increasing livestock production are predicted to drive the hay making machinery market within the region. Furthermore, the shrinkage of land for grazing animals can increase the demand for hay which is also anticipated to remain a positive factor for industry growth within the region. 

Asia Pacific is projected to grow at considerable pace in the global hay making machinery market. The increasing livestock production as a secondary or primary earning source and rising awareness regarding the animal diet is encouraging populace to purchase hay which is likely to drive the Asian hay making machinery market. In addition, several market players are investing in emerging countries of Asia Pacific to increase their global footprint which is expected to drive the Asia Pacific market.

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Segmentation


















 ATTRIBUTE

  DETAILS

By Type



  • Mower

  • Balers

  • Tedder

  • Rakes



By Geography



  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)



Key Industry Developments:



  • In August 2017, Vermeer Company, a manufacturer of industrial and agricultural equipment announced the launch of its latest 5 ft by 4 ft balers, the 504R Classic and the 504R Premium.

  • In September 2015, AGCO, one of the leading producer and distributor of agricultural equipment, announced the opening of its brand new manufacturing base in Changzhou. The opening of the new Changzhou location can further enhance the company’s R&D and manufacturing capacity in China.





  • Ongoing
  • 2023
  • 2019-2022

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