Major players in the haying machines market are AGCO Corporation, Buhler Industries Inc, Kuhn Group, Kubota, Deere & Company, CLAAS, CNH Industrial, IHI, Pottinger Landtechnik, and Buhler Industries.
The global haying machines market is expected to grow from $23.6 billion in 2021 to $25.18 billion in 2022 at a compound annual growth rate (CAGR) of 6.7%. The market is expected to grow to $38.99 billion in 2026 at a compound annual growth rate (CAGR) of 11.5%.
The haying machines market consists of sales of haying machines by entities (organizations, sole traders, or partnerships) that are engaged in manufacturing different types of haying machines. Only goods and services traded between entities or sold to end consumers are included.
The main machine types of haying machines are mowers, tedders and rakes, balers, and other machine types.Mowers refer to a machine for cutting grass.
The sales channels are OEMs and aftermarket. The various applications involved are large farms, small and medium farms.
The Asia Pacific was the largest region in the haying machines market in 2021.North America was the second largest region in the haying machines market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Rising demand for plant-based feed for animals is expected to drive the demand for the haying machines market over the forecast period.In agriculture, dried grasses and other foliage are used as animal feed.
Typical hay crops are timothy, alfalfa, and clover.The rising livestock population is likely to generate higher demand for plant-based feed for animals.
According to the Food and Agriculture Organization of the United Nations, the global population of cattle and goats, and sheep is projected to increase to 2.6 billion and 2.7 billion by the end of 2050. Moreover, according to the 20th Livestock Census, in 2019, the total livestock population in India is 535.78. Besides, in 2019 the value of total hay produced in the USA was $18.16 billion. Increasing the use of grass-fed, grass-finished beef, and another plant based-feed for animals is likely to propel the growth of the haying machines market.
Lack of credit options to farmers limits the growth of the haying machines market, especially in small economy countries.Agriculture is a significant activity in African economies and still, less than 4% of total lending by commercial banks goes into the agricultural sector.
Various reasons for which commercial banks do not lend to small landowners include lack of irrigation, pests and crop diseases, lack of transportation, and small size of farms among others. Thus, the lack of credit to farmers from financial institutions because of uncertain earnings and cash flows is restraining the haying machines market growth during the forecast period.
The launch of various innovations to increase productivity and efficiency is gaining popularity in the haying machines market. For instance, in August 2019, John Deere launched two new baler wrapper machines- C451R and C461R Combination Balers in North America to help producers with easy and quickly lock in nutrients for higher quality forage production.
In March 2019, Buhler Industries, a Canada-based leading manufacturer of machinery distributed under the Versatile and Farm King brands acquired Kubota for an undisclosed amount.This acquisition of Kubota to develop and for producing a new tractor platform in the mid-range front-wheel assist segment.
Kubota is a Japan-based manufacturing company, specializing in agriculture, water, and living environment products.
The countries covered in the haying machines market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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