Hay and Forage Equipment Market Size, Share, Growth, and Industry Analysis, By Type (Hydraulic Power, Electric Power and Others), By Application (Hay, Cotton, Straw, Silage and Others), Regional Insights, and Forecast To 2032

Updated On: 15 April 2024

hay and forage equipment market REPORT OVERVIEW

• 

• Request a Free Sample to learn more about this report

The global hay and forage equipment market size was USD 8760.5 million in 2022 and is projected to touch USD 10340 million by 2028, exhibiting a CAGR of 2.8% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Hay and forage equipment refers to the machines used to collect hay, which is dried grass or other plants used as animal feed. Hay is cut and dried before being stored for later use. Hay and forage equipment such as balers, mowers, rakes, tedders, and wind-rowers are available on the market. The increasing demand for equipments of hay and forage due to the global increase in livestock population can be credited to the market's growth. Furthermore, factors such as technological developments and increased awareness about animal husbandry are driving the growth of this industry.

COVID-19 Impact: Adoption of Digital Solutions and Government Support Resulted in Increased Market Share

The epidemic has pushed the introduction of digital technology in agriculture, particularly the use of precision agriculture and IoT sensors in hay and fodder equipment. Farmers looked for ways to remotely monitor and manage their equipment, minimising the requirement for physical presence in the field. The epidemic underlined the significance of minimising agricultural labour dependency. Farmers sought for ways to automate and mechanise their hay and forage operations as labour shortages became more acute in some areas due to COVID-19-related constraints and health concerns. Governments in several countries provided financial assistance to the agriculture sector during the pandemic, which may have influenced equipment purchasing decisions by giving financial incentives or assistance for equipment investments.

LATEST TRENDS

"IoT Integration, Automation and Improved Crop Management to Soar Up Market Potentially"

Precision agriculture technologies and IoT (Internet of Things) sensors are progressively being integrated into the hay and forage equipment business. This enables farmers to remotely monitor and manage their equipment, optimise agricultural productivity, and eliminate waste. Automation is making its way into hay and fodder machinery. Autonomous or semi-autonomous equipment can conduct operations like as mowing, raking, and baling more efficiently and precisely. Modern equipment is outfitted with smart sensors and software to assist farmers in more effectively managing their crops. This incorporates harvesting and forage quality optimisation features such as yield monitoring, moisture sensing, and real-time data analytics.

hay and forage equipment market SEGMENTATION

• 

• Request a Free Sample to learn more about this report

• By Type

Based on type the market is classified as hydraulic power, electric power and others.

The hydraulic power is the leading part of the type segment.

• By Application

Based on application the market is classified as hay, cotton, straw, silage and others.

The part hay is the leading type of the application segment.

DRIVING FACTORS

"Government Support in the Agricultural Sector to Reinforce the Market Growth "

Government backing has also been an important component in driving the sector. Subsidies are provided by the government to farmers and agricultural businesses in order to encourage them to invest in new Hay And Forage Equipment. In addition, the expansion of the agricultural sector and changes in weather patterns are driving growth. As the agricultural sector grows, so does the demand for Hay And Forage Equipment, as farmers attempt to maximise their output and efficiency. Also, shifting weather patterns that cause droughts or floods can influence the quality and availability of hay and fodder, increasing the requirement for machinery to ensure a consistent feed source.

"Increasing Adoption of Organic and Precision Agriculture to Witness Tremendous Market Growth"

Growing adoption of precision agriculture and rising demand for organic products present profitable potential for the industry to grow in the future years. Precision agriculture entails applying technology to optimise the use of resources, such as Hay And Forage Equipment. This trend has resulted in more chances for precision Hay And Forage instruments. Furthermore, consumers are increasingly demanding organic goods, which need high-quality feed. As a result, there is an increase in demand for Hay And Forage market that can generate high-quality feed.

RESTRAINING FACTOR

"High Initial, Maintenance and Repair Cost to Obstruct the Market Growth"

Overall, the Hay And Forage Equipment Market is supported by a number of factors, including increased need for animal feed, technical improvements, government assistance, changing weather patterns, agriculture sector expansion, precision agriculture adoption, and rising demand for organic products. However, obstacles like as high expenditures, seasonal demand, reliance on weather patterns, and ongoing maintenance and repair costs may stymie market expansion. However the cost factor may have an effect on the overall utilization and hindering the hay and forage equipment market growth.

hay and forage equipment market REGIONAL INSIGHTS

• 

• Request a Free Sample to learn more about this report

"Asia Pacific Region to Dominate with High Demand from the End-Use Industries"

The North American region is predicted to have a large share of the global Hay and Forage Equipment Market. The area has a long history of mechanised agriculture and is home to many of the world's best Hay and Forage Equipment manufacturers. The U.S. has the largest Hay and Forage Equipment Market share in North America, followed by Canada and Mexico. Furthermore, increased understanding of the benefits of mechanised agriculture has contributed greatly to regional growth.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

The market is highly competitive, with both international and domestic players. Major players are involved in the launch of new and improved products, collaborations, mergers and acquisitions, joint ventures, and other tactics.The research is an in-depth examination of a list of market participants who promote market growth. The data is a compilation of the most recent manufacturing industry trends, mergers and acquisitions, market research, and technology breakthroughs. To comprehend market share, product growth, revenue growth, and other variables over the forecast period, additional criteria such as regional and segmental analysis are considered.

List of Market Players Profiled

• John Deere (U.S.)
• Vermeer (U.S.)
• Claas (Germany)
• Krone (Denmark)
• Minos (Paris)
• Abbriata (Italy)
• Case IH (U.S.)
• Massey Ferguson (U.S.)
• New Holland (Italy)
• Foton Lovol (China)
• Shanghai Star (China)
• Yulong Machinery (China)
• Shen Yang Fang Ke (China)
• An Yang Yu Gong (China).

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study.The research report includes a study of a number of factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points.The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments, deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.