Haying and Forage Machinery Market in North America 2016-2020

Overview of the haying and forage machinery market in North America

In recent years, there has been a rapid increase in the adoption of farm mechanization practices. Farm mechanization helps to achieve timeliness in field operations, increase productivity, and cut down crop production cost, boosting crop yield and farm revenues. The emphasis on farm mechanization will increase in the coming years owing to the several benefits it offers such as timely, precise, and scientific farm operations, increasing farm input, and efficiency in use of labor, resulting in improved agricultural productivity. In addition, with the growing farm mechanization and farm consolidation practices, there is surging demand for high-capacity farm machinery that provides a high-quality output with an increase in ownership cost and low maintenance. With the growing popularity of such innovative agricultural practices and the subsequent use of advanced agricultural equipment, the market for haying and forage machinery in North America will witness huge growth in the coming years.  Extensive research carried out by Technavio’s market research analysts predict that the haying and forage machinery market in North America will post a CAGR of around 5% by 2020.

The constant technological advancements in the farm machinery across the globe has encouraged the agricultural industry to enhance the hay and forage quality, output, cost-effectiveness, and processes like the rate of drying. The latest development gaining momentum in the market is the incorporation of precision farming technologies in agriculture. Precision farming is a technique concept based on observing, measuring, and responding to inter- and intra-field variability in crops. It uses machines that have automated steering and innovations to stimulate productivity and profitability. This technology enables the greater modifications of the machines. Recently, New Holland has received a gold medal from Agritechnica for the advanced precision technology used in the new FR forage series.

Competitive landscape and key vendors

The haying and forage machinery market in North America is extremely segmented and comprises a vast number of big and mid-sized players. The market is anticipated to experience a sharp rise in the production capacity during the forecast period as the competitors are adopting advanced methods of production. The increase in production capacity will encourage the players to meet the growing demands of haying and forage machinery in the forecast period. Vendors in the market are using their expertise to offer high-performance and technologically advanced haying and forage machinery to provide farmers with upgraded performance machinery with greater value for their investment. The leading players will continue their dominance in the market in the coming years through the acquisition of new enterprises.

Leading vendors in the market are -

• AGCO
• CLAAS
• CNH
• Deere and Company
• KUHN

Other prominent vendors in the haying and forage machinery market in North America include Buhler Industries, Iseki, Krone, Kubota, Kverneland, Lely, and Vermeer.

Segmentation by product and analysis of the haying and forage machinery market in North America

• Haying machinery
• Forage machinery

During 2015, the haying machinery segment led the haying and forage machinery market in North America and accounted for more than 77% of the total market share. Haying machinery can be categorized into balers, mowers, and hay racks. These are used for the production of plant-based feed for animals. The demand for high-capacity haying machinery with advanced features has driven the haying machinery market in North America. However, with the surging demand for preowned haying machinery, the adoption of new haying machinery will decrease in the coming years.

Growth drivers, challenges, and upcoming trends: Surging applications of telematics

Upcoming trends such as the growing use of telematics for haying activity is gaining popularity in the market. Telematics is a method that uses an onboard GPS system to provide the vehicle's location and speed, and monitor the status of the engine. Major vendors like New Holland have incorporated several telematics features in their latest haying and forage machinery models. The telematics features increase the efficiency and reliability of networking, and are envisaged to increase the demand for haying and forage machines in the coming years.

This report provides a number of factors contributing to the adoption, limitations, and opportunities of the haying and forage machinery market in North America. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.

 Key questions answered in the report include

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

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

Related reports:

• Global Haying and Forage Machinery Market 2016-2020
• Agricultural Machinery Market in the US 2016-2020
• Agricultural Machinery Market in India 2015-2019
• Haying Machinery Market in the US 2015-2019

Haying and forage machinery are types of advanced agricultural equipment whose application is increasing with the rising demand for improved crop yields. It is a kind of specialized planting machinery that has improved the crop yield with minimum human interferences, besides being a cost-effective mechanism. Such machinery is witnessing tremendous adoption with the growing implementation of precision farming technologies and surging demand for hay from livestock producers. AGCO, Buhler, and Krone North America will be some of the prominent players in this market space.

The report, haying and forage machinery market in North America, is part of Technavio’s consumer and retail research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as apparel and textile, consumer services and personal care, cosmetics and toiletry, general retail goods and services, luggage, pet supplies, retail systems, and toys and baby products. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.