Market Snapshot
| Study Period: | 2016-2025 |
| Base Year: | 2019 |
| CAGR: | 3.5 % |
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Market Overview
The North America haying and forage machinery market is projected to grow at a CAGR rate of 3.5% during the forecast period. Increasing forage cultivation, technological advancements, and shortage of labor are the key market drivers whereas high cost of the machinery is the main restraint of the market. The government support in developed countries such as the United States and Canda is anticipated to accelerate the market rapidly in the coming years.
Scope of the report
Haying and forage machinery is used by the animal feed manufacturing firms and farmers, who cultivate forage in large areas. The North America haying and forage machinery market report presents an in-detailed analysis of market aspects including market size, driving factors, and competitive environment in various North American countries. The market is segmented by type and geography.
| Type | |
| Mowers | |
| Balers | |
| Forage Harvesters | |
| Others |
| Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
Key Market Trends
Increasing Forage Cultivation Drives the market
The demand for forage feed from the livestock industries has been boosting the forage cultivation in North America. For instance, According to USDA, the total hay production in the United States was 128.8 million metric tons in 2019, which is 5.8 million metric tonnes more than the hay produced in 2018. In the United States alone, field and forage crops are grown on most of the more than 200 million acres of harvested cropland. Enormous cultivation of forage crops demands huge machinery to handle the farm operations, fuelling the haying and forage machinery market.
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United States Dominates the Market
Being the most technologically advanced country and with a vast area under forage cultivation, the United States dominates the market with a major market share. Forage, grasslands, and grazing lands constitute more than two-thirds of all agricultural land in the USA. According to USDA statistics, pasture and hayland account for 73 million hectares in the USA and provide several ecosystem goods and services. Increasing animal feed demand is anticipated to boost the forage cultivation of the country, in turn increasing the sales of forage machinery.
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Competitive Landscape
The North America haying and forage machinery market is highly competitive with few players holding a major market share. These players have been actively promoting their products and expanding their operations to various regions to increase their sales. The companies are also following strategies such as merging and acquisition to continue their domination in the market.
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.3 Market Restraints
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Mowers
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5.1.2 Balers
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5.1.3 Forage Harvesters
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5.1.4 Others
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5.2 Geography
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5.2.1 United States
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5.2.2 Canada
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5.2.3 Mexico
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5.2.4 Rest of North America
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Share Analysis
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6.3 Company Profiles
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6.3.1 AGCO Corporation
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6.3.2 PÖTTINGER Landtechnik GmbH
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6.3.3 CLAAS KGaA mbH
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6.3.4 CNH Industrial
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6.3.5 Deere & Company
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6.3.6 Kubota
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6.3.7 Foton Lovol
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6.3.8 IHI
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6.3.9 Krone North America Inc.
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6.3.10 KUHN Group
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6.3.11 Kverneland Group
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6.3.12 Lely
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6.3.13 Vermeer
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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8. IMPACT OF COVID-19
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Frequently Asked Questions
What is the study period of this market?
The North America Haying and Forage Machinery Market market is studied from 2016 - 2025.
What is the growth rate of North America Haying and Forage Machinery Market?
The North America Haying and Forage Machinery Market is growing at a CAGR of 3.5% over the next 5 years.
Who are the key players in North America Haying and Forage Machinery Market?
CLAAS KGaA mbH, Krone North America Inc., AGCO Corporation, PÖTTINGER Landtechnik GmbH, Deere & Company are the major companies operating in North America Haying and Forage Machinery Market.
