Haying Machines Global Market Report 2024

The haying machines market size has grown strongly in recent years. It will grow from $25.49 billion in 2023 to $27.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed during the historical period can be attributed to several key factors, including the adoption of agricultural mechanization, the drive for increased farm productivity, labor shortages, and growing environmental concerns that have motivated the use of haying machines in the agricultural sector.

The haying machines market size is expected to see strong growth in the next few years. It will grow to $36.06 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period can be primarily attributed to factors such as the adoption of precision agriculture practices, a rising demand for forage crops, the increased use of automation and robotics in farming, the impacts of climate change, and the expansion of haying machine markets in developing countries. Notable trends expected to shape this period include ongoing technological advancements, the continued mechanization of farming processes, and the increased integration of automation and robotics in the haying machine industry.

The anticipated rise in demand for plant-based animal feed is poised to fuel growth within the haying machines market in the foreseeable future. Haying machines are integral in the production of dried grasses and foliage used as feed in agriculture. With typical hay crops including timothy, alfalfa, and clover, the expanding livestock population is expected to drive a heightened need for plant-based feed. As evidenced in Canada's National Statistical Organization report in May 2022, an increase of 8.1% in canola acreage was recorded in 2021, contributing to a total of 92.9 million acres utilized for hay and field crops. The growing preference for grass-fed beef and other plant-based animal feed is set to further propel the market for haying machines.

The primary machine types within the category of haying machines include mowers, tedders and rakes, balers, and various other types of machines. Mowers are specifically designed for cutting grass and other vegetation. These machines are distributed through two main sales channels, which are Original Equipment Manufacturers (OEMs) and aftermarket sales. Haying machines find applications in both large farms and small to medium-sized farms, catering to a range of agricultural operations.

The haying machines market research report is one of a series of new reports that provides haying machine market statistics, including haying machines industry global market size, regional shares, competitors with a haying machine market share, detailed haying machines market segments, market trends and opportunities, and any further data you may need to thrive in the haying machines industry. This haying machines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The upsurge in government initiatives aimed at supporting farmers is projected to significantly drive growth within the haying machines market. These initiatives encompass diverse policies and programs undertaken by governments to assist agricultural entities by providing resources and aid. Government support to farmers often includes financial backing, technology promotion, infrastructural improvements, fuel and maintenance subsidies, training, educational support, and encouragement for crop diversification. For instance, the UK government's announcement in August 2022 outlines an allocation of up to $591,220 (£500,000) in funding for English farmers and growers. This initiative, part of the $270 million Farming Innovation Program, aims to enhance food output through investment in cutting-edge robotics and technology, thus driving growth in the haying machines market.

A limitation in the availability of credit options for farmers, especially in smaller economy countries, hampers the growth potential of the haying machines market. Agricultural activities, significant in many African economies, face a scarcity of funding from commercial banks, with less than 4% of total lending directed towards the agricultural sector. Factors contributing to this limitation include issues such as lack of irrigation, pest and crop diseases, transportation constraints, and the relatively small size of farms, among others. Consequently, the restrained access to credit for farmers due to uncertain earnings and cash flows poses a notable restraint on the growth of the haying machines market during the forecast period.

The haying machines market is witnessing a surge in the introduction of various innovations aimed at amplifying productivity and efficiency. New Holland Agriculture, a US-based agricultural equipment company, introduced the Discbine PLUS Series in August 2022, designed to elevate output and safeguard valuable feed nutrients. Noteworthy enhancements include a modern appearance, marked by striking yellow accents symbolizing suitability for commercial use. These machines feature an innovative center-pivot tongue, offering nimble maneuverability, and a standard swivel gearbox hitch for secure and swift operations along with trouble-free headland turns.

Prominent players within the haying machines market are actively pursuing innovation, particularly in technologies such as round balers, to fortify their market standing. Round balers, used to compact and bundle crops like hay or straw into cylindrical bales, are witnessing advancements in technology. In August 2023, Deere & Company, a leading US-based agricultural machinery manufacturer, introduced the 1 Series round balers. These models are focused on integrating advanced technology to amplify the efficiency and productivity of farmers. Featuring John Deere's Bale Doc technology, these balers enable real-time monitoring and post-harvest analysis of bale moisture and weight. Offering three pickup options, these balers boast a high-capacity pickup with a dual rotor system for increased throughput, allowing farmers to produce up to 80 more bales per day compared to prior models. Automation technology reduces operator fatigue by handling tasks like gate operation, while an optional net roll lift assist streamlines the roll-loading process.

In August 2021, Kadant Inc., a US-based provider of high-value engineered components, completed the acquisition of Balemaster for an undisclosed sum. This strategic move is poised to expand Kadant's market presence in the secondary material processing industry, particularly in Europe for utilizing high-performance balers in the hay market. Balemaster, a US-based manufacturer specializing in hay balers and related haying equipment, has now become a part of Kadant Inc.'s strategic portfolio.

Major companies operating in the haying machines market include AGCO Corporation, Buhler Industries Inc., Kuhn Group, Kubota Corporation, Deere & Company, CLAAS KGaA mbH, CNH Industrial N.V., IHI Corporation, Pottinger Landtechnik GmbH, Iseki & Co. Ltd., Bernard Krone Holding SE & Co. KG, Bernard Krone Holding GmbH & Co. KG, Kverneland Group GmbH, Lely Industries N.V., Vermeer Corporation, LOVOL Heavy Industry Co. Ltd., Alois Pttinger Maschinenfabrik Ges.m.b.H., Alamo Group Inc., Anderson Group Co. Inc., CNH Industrial America LLC, Enorossi S.r.l., Fella-Werke GmbH, Goweil Maschinenbau GmbH, Hesston Corporation, JF-Stoll Ltd., Daedong-USA Inc., Kuhn North America Inc., Massey Ferguson Ltd.

The Asia-Pacific was the largest region in the haying machines market in 2023. North America was the second largest region in the haying machines market. The regions covered in the haying machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the haying machines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The haying machines market consists of sales of sickle bar mower, rotary mower, square balers, and round baler. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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