Haying and Forage Machinery Market in North America 2016-2020
Hay is grass or legumes that have been cut, dried, stored, and transformed into bales for feeding livestock. It is used as animal fodder when animals are not able to graze due to unsuitable weather or when they are kept in stables or barns. Haying machinery is used to cut the crops, which are then stored in the form of silage or bales. Forage is plant material that livestock graze on. Forage machinery is widely used for harvesting forage grains. The North American haying and forage machinery market constitutes a dominant part of the global haying and forage machinery market that accounts for a small portion, i.e., 7.78% of the global agricultural machinery market.
Technavio’s analysts forecast the haying and forage machinery market in North America to grow at a CAGR of 5.25% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the haying and forage machinery market in North America for 2016-2020. To calculate the market size, the report considers the revenue generated from the total market sales of haying and forage machinery to agricultural farmers in North America.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Haying and Forage Machinery Market in North America 2016-2020
Technavio recognizes the following companies as the key players in the haying and forage machinery market in North America: AGCO, CLAAS, CNH Industrial, Deere, and KUHN.
Other Prominent Vendors in the market are: Buhler Industries, Iseki, Krone, Kubota, Kverneland, Lely, and Vermeer.
Commenting on the report, an analyst from Technavio’s team said: “Development of new haying and forage machinery will be a key trend for market growth. New products in the haying and forage machinery market can increase the sales of machinery in the coming years. The growing demand for advanced features, improved performance, and better capacity in machinery has contributed to the development of new machinery. In 2016, Krone released new forage harvesters, models BiG X 480, 530, 580, and 630. These are self-propelled machines, which operate with lower horsepower without compromising on the quality of forage production. Also, a new model FC 3125 was released by KUHN Group, which includes an intelligent front mounting system for uniformity in level cutting across the terrain. New models of Vermeer were introduced in 2016, the Rebel 5420 and 5520. These baler models are loaded with Alligator rivet belt laces and also include a net wrap system to load and wrap bales within 10 seconds.”
According to the report, increased consumption of meat and dairy products will be a key driver for market growth. The consumption of meat and dairy products is growing rapidly due to different factors like high disposable income, increasing urbanization, and changing consumption pattern. In 2015, the average growth of meat consumption and dairy consumption was 6% and 3.8%, respectively. This is driving the demand for livestock feed, especially hay, and thus, there is an increase in the demand for haying and forage machinery. Round bale silage is an alternative used to replace traditional hay harvester, which optimizes the quantity and quality of the forage feed. The Case IH RB5 series provides a range of round balers for haying bales. Furthermore, as the quality of forage forms an important factor for improving the quality of meat and dairy products, the farmers are increasingly using high-quality forage handling equipment.
Further, the report states that increasing sales of preowned machinery will be a challenge for the market. As the cost of haying and forage machinery is very high, farmers are inclined to purchase used machines at a reduced cost. These machines are especially unaffordable for small farmers. For instance, the Kuhn VBP 2160 model is priced at $97,377.85, but the used model is sold at a comparatively lower price of $65,563.56 on Mascus, an online marketplace for used heavy machinery. Therefore, the demand for used machinery is rising, posing a challenge to machinery manufacturers, and adversely affecting the demand for new haying and forage machinery.
AGCO, CLAAS, CNH Industrial, Deere, KUHN, Buhler Industries, Iseki, Krone, Kubota, Kverneland, Lely, Vermeer.