Global Haying and Forage Machinery Market 2016-2020
About the Haying and Forage Machinery Market
Hay is grass or legumes that have been cut, dried, stored, and transformed into bales for feeding livestock. It is used as animal fodder animals are not able to graze due to unsuitable weather, like drought, or when animals are kept in stables or barns. Haying machinery is used to cut the crops, which are then stored in the form of bales or silage. Forage is plant material that livestock graze on. Forage machinery is widely used for harvesting forage grains. The global haying and forage machinery market constitutes a small part of the global agricultural machinery market.
Technavio’s analysts forecast the global haying and forage machinery market to grow at a CAGR of 5.1% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global haying and forage machinery market for 2016-2020. To calculate the market size, we considered the unit shipments of haying and forage machinery globally. The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Haying and Forage Machinery Market 2016-2020
Technavio recognizes the following companies as the key players in the global haying and forage machinery market: AGCO Corp., CLAAS, CNH Industrial, Deere & Co., and Pottinger.
Other Prominent Vendors in the market are: Buhler Industries, Iseki, Krone, Kubota, KUHN Group, Kverneland, Lely, Same Deutz-Fahr Deutschland, and Vermeer.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is propelling market growth is the incorporation of precision farming technologies. Precision farming is one of the major trends that drives the need for haying and forage machinery. Precision farming also uses machines with automated steering and advanced technology, which improves profitability and productivity. Fendt allows a single driver to control two tractors, which reduces the wastage of seeds during planting. In 2015, AGCO signed an agreement with Precision Planting to use AGCO’s FUSE technology for precision farming. This technology will also provide on-farm data to farmers using digital tools.”
According to the report, a key growth driver is the rising demand for high-capacity machinery. Mechanization of farming practices and farm consolidation in emerging economies are increasing the demand for high-capacity haying machinery. High-capacity machinery provides high-quality output with increasing ownership cost, and it has low maintenance. Pull-type forage harvesters are high-capacity machines that provide better sharpening and cutting ability in the terrain. The machine includes a header and cylindrical cutter with a rotating knife. One of the pull-type forage harvesters is Case IH FHX300 with 1,000 rpm driveline, wide header, and heavy-duty components.
Further, the report states that one challenge that could hamper market growth is volatility in raw material prices. The cost of haying and forage machinery includes the cost of raw materials like steel, rubber, and iron. The costs of these raw materials are subject to fluctuations, which poses a threat to the profit margin of vendors.
AGCO Corp., CLAAS, CNH Industrial, Deere & Co., Pottinger, Buhler Industries, Iseki, Krone, Kubota, KUHN Group, Kverneland, Lely, Same Deutz-Fahr Deutschland, Vermeer.