Agricultural Haying and Forage Machinery Market - Growth, Trends, and Forecast (2019 - 2024)

The Agricultural Haying and Forage Machinery Market is segmented by type into mowers, balers, tedders, and rakes, and forage harvesters, and by geography into North America, Europe, Asia-Pacific, and Rest of the world.

Market Snapshot

Market Snapshot 1
Study Period:

2015-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

  • The agricultural haying and forage machinery market is projected to record a CAGR of 3.80% during the forecast period (2019-2024).
  • The government support to farmers is one of the major factors which 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.

Scope of the Report

The haying and forage machinery industry and livestock industry are interrelated and have grown simultaneously. The growing livestock population and their feed demand are the primary drivers of the market. As the market is experiencing an increase in the consumption of livestock products on a regular basis, the farmers are driven to produce more forage crops to meet the growing animal feed demand, and thereby driving the forage machinery market. The market is segmented by type into mowers, balers, tedders, and rakes, and forage harvesters, by geography into North America, Europe, Asia-Pacific, and the Rest of the world.

Type
Mowers
Balers
Tedders and Rakes
Forage Harvesters
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Africa
South Africa
Rest of Africa

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Key Market Trends

Government Support to Farmers is Driving the Market

The subsidies for agriculture are not distributed equally all over the world. Most of the subsidies are provided by governments of Asian countries, than those of other regions. In India, the central government provided a subsidy, which amounted to USD 226.0 to USD 949.4 to small and marginal farmers, whereas the other beneficiaries received USD 180.8 to USD 753.5 per hay and forage equipment in the year 2015. The support from the government has encouraged the farmers to purchase the hay and forage machinery, owing to the advancement in technology and mechanization. 

Market Trend 1

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North America dominates the Market

The market demand in the North American region is led by the United States, the largest agricultural-base 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 which is driving the growth of the market in this region. Advancements in the 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 harvester is dominating the market and is projected to register the same trend in the future.

Market Trend 2

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Competitive Landscape

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, and are collaborating and acquiring other companies, which is expected to increase their market shares and strengthen the 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.

Major Players

  1. AGCO Corporation
  2. CLAAS
  3. Deere & Company (John Deere)
  4. Krone North America Inc.
  5. Kubota Corporation

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

    4. 4.4 Market Restraints

    5. 4.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Mowers

      2. 5.1.2 Balers

      3. 5.1.3 Tedders and Rakes

      4. 5.1.4 Forage Harvesters

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Rest of North America

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 India

        3. 5.2.3.3 Japan

        4. 5.2.3.4 Rest of Asia-Pacific

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Africa

        1. 5.2.5.1 South Africa

        2. 5.2.5.2 Rest of Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Competitor Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 AGCO Corporation

      2. 6.3.2 CLAAS

      3. 6.3.3 CNH Industrial

      4. 6.3.4 Deere & Company (John Deere)

      5. 6.3.5 Krone North America Inc.

      6. 6.3.6 Kubota Corporation

      7. 6.3.7 Kuhn Group

      8. 6.3.8 Yanmar Company Limited

      9. 6.3.9 Farm King

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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