Global Haying and Forage Machinery Market 2016-2020

Overview of the global haying and forage machinery market

Market research analysts at Technavio predict the global haying and forage machinery market to grow at a CAGR of more than 5% by 2020. The introduction of stringent government initiatives is one of the key drivers that will lead to the growth of this market over the years. The governments of different countries provide subsidies on agricultural machinery to help farmers purchase forage harvesters and haying machines. Furthermore, the governments give credit facility to farmers from banking and non-banking financial corporations. For instance, the credit allocation for farmers amounted to USD 127.9 billion by the Union Budget of India.

Incorporation of precision farming technologies is one of the key trends gaining popularity in this market. This technology uses machines with automated steering and innovations to increase productivity and profitability. Precision farming helps to sustain the farm and enables greater adaptability of these machines. For instance, AGCO, in collaboration with Precision Planting, invented FUSE technology for precision farming, which provides on-farm data to farmers using digital tools.

Product segmentation and analysis of the haying and forage machinery market

• Haying machinery
• Forage machinery

According to this market analysis, the haying segment dominates the haying and forage machinery market and is expected to grow at a CAGR of around 5% by 2020. Factors like the advent of high-capacity haying machinery with new features and innovations will drive the global haying machinery market. For instance, Vermeer introduced Rebel 5420 in 2016 along with Alligator rivet belt laces to provide a balanced system, while operating the machinery.

Geographical segmentation and analysis of the haying and forage machinery market

• APAC
• Europe
• North America
• ROW

The haying and forage machinery market in North America is expected to have a total market share of more than 33% by 2020. Due to high labor costs, there is a lack of labor force in the agricultural sector, which in turn leads to the increased demand for agricultural machinery, including haying and forage machinery.

Competitive landscape and key vendors

Competition is highly fragmented as there are numerous vendors in the market. These vendors are technologically advanced and use innovative methods to develop products. Factors such as intense competition between the market vendors in terms of cost, brand appeal, capacity, utility, and economic efficiency will affecting their strategies. Numerous vendors also offer a wide range of haying and forage machinery to achieve economies of scale.

Key vendors in the market are -

• AGCO
• CLAAS
• CNH Industrial
• Deere & Co.
• Pottinger Landtechnik GmbH

The other prominent vendors in this market include Buhler Industries, Iseki, Krone, Kubota, KUHN Group, Kverneland, Lely, Same Deutz-Fahr Deutschland, and Vermeer.

Key questions answered in the report include

• What will the haying and forage machinery market size and the growth rate be in 2020?
• What are the key factors driving the global haying and forage machinery market?
• What are the key haying and forage machinery market trends impacting the growth of the market?
• What are the challenges to market growth?
• Who are the key vendors in the global haying and forage machinery market?
• What are the market opportunities and threats faced by the vendors in the global haying and forage machinery market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global haying and forage machinery market?

Technavio also offers customization on reports based on specific client requirement.

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