Haying and Forage Machinery Market 2015 to grow at a CAGR of 3.74% by 2019: Market Research Store
Deerfield Beach, FL -- (SBWIRE) -- 09/21/2015 -- About Haying and Forage Machinery
Haying and forage machinery are equipment used for the production of plant-based feed for animals. Global haying and forage machinery market to grow at a CAGR of 3.74% during the period 2014-2019. With increasing mechanization of farming worldwide, the agriculture industry is relying on equipment to enhance forage quality, output, cost-effectiveness, and processes such as the rate of drying. The market encompasses a variety of machines such as mowers, balers, forage harvesters, rakes, and tedders. The global haying and foraging market is growing in congruence with the global livestock industry as hay is an important component of feed for livestock.
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Covered in this Report
The report covers the present scenario and the growth prospects of the global haying and forage machinery market for the period 2015-2019. To calculate the market size, the report considers unit shipments of balers, forage harvesters, and others.
Global Haying and Forage Machinery Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Europe, the Americas, APAC, and ROW; it also covers the global haying and forage machinery market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Commenting on the report, an our analyst said: "Rising input costs, higher competition, and limitations on land use have prompted efforts to boost field productivity. Market players are working towards integrating advanced electronics such as GPS, yield monitoring, autopilot technology, and fleet management into haying and forage machinery. These technologies help improve efficiency and aid control and management functions. Safety and fertilizing regulations, as well as demand for custom harvesters, are further driving development in precision farming. These factors will enable greater adaptability of these machines and help improve farm sustainability."
According to the report, the disposable incomes of people in developing countries are increasing, which has led to a surge in consumption of these products. The resulting rise in demand for hay and forage has compelled equipment vendors to introduce new products for farming productivity. The graph below shows a comparison between the current and projected global consumption of meat.
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- Alois Pöttinger
- CNH Industrial
- Deere and Company
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Other Prominent Vendors
- Buhler Industries
- Foton Lovol
- KUHN Group
- Kverneland Group
Further, the report states that financial constraints will remain a challenge in the market for years to come.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.