Global Agricultural Haying and Forage Machinery Market Insights Forecasts to 2033

• The Global Agricultural Haying and Forage Machinery Market Size was Valued at USD 8.5 Billion in 2023
• The Market Size is Growing at a CAGR of 2.67% from 2023 to 2033
• The Worldwide Agricultural Haying and Forage Machinery Market Size is Expected to Reach USD 11.06 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Agricultural Haying and Forage Machinery Market Size is Anticipated to Exceed USD 11.06 Billion by 2033, Growing at a CAGR of 2.67% from 2023 to 2033.

Market Overview

Equipment to collect hay, which is dried grass or other plants used as animal feed, is referred to as hay and forage equipment. Hay is dried and chopped, then stored for later use. There are various types of hay and forage equipment on the market, including balers, mowers, rakes, tedders, and wind-rowers. Haying and Forage Machinery are used to harvest the crops and forage plants which are then fed to livestock. As there is increasing consumption of livestock products regularly, farmers are growing more forage crops to feed the growing livestock population. This is driving the market for haying and forage machinery.

Globally, the hay and forage equipment industry is gradually incorporating Internet of Things (IoT) sensors and precision agriculture technologies. This makes it possible for farmers to maximize agricultural productivity, cut waste, and remotely monitor and control their equipment. Hay and fodder machinery is starting to incorporate automation. Equipment that is autonomous or semi-autonomous can do work like raking, baling, and mowing more accurately and effectively. Smart sensors and software are built into modern equipment to help farmers manage their crops more efficiently. This includes capabilities including yield monitoring, moisture sensing, and real-time data analytics for forage quality improvement and harvesting.

For instance, in July 2024, With the commercial release of autonomous tractor conversion kits scheduled for 2025, AGCO is getting ready to take farming to the next level. During its 2024 Tech Day, AGCO showcased several of its forthcoming and novel agricultural technologies, such as autonomous tractor upgrade kits for grain handling and tillage. The technology for autonomous tractors is still in its infancy, as AGCO continues to improve it before deploying it in real-world situations.

This global agricultural haying and forage machinery market's growth is primarily driven by factors such as technological developments and increased awareness about animal husbandry are driving the growth of this industry.

Report Coverage

This research report categorizes the market for the global agricultural haying and forage machinery market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global agricultural haying and forage machinery market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global agricultural haying and forage machinery market.

Driving Factors

The rising advancement in the farming sector, in confluence with the increasing demand for plant-based feed for livestock, represents one of the vital components of expanding global market growth. Apart from this, governing agencies of several nations are introducing initiatives and providing subsidies in the form of crop insurance, loans, and direct payments to support farmers. This, along with the growing concerns about food security, is promoting the adoption of agricultural haying and forage machinery to meet the increasing needs of farmers. In addition, further industry growth is profitable due to the growing demand for organic products and the increasing adoption of precision agriculture. Using technology, such as Hay and Forage Equipment, to maximize the utilization of resources is known as precision agriculture. There are now more opportunities for precise Hay and Forage devices as a result of this growth. In addition, there is a growing consumer demand for organic products, which call for premium feed. Consequently, there is a rise in the market need for Hay and Forage, which can produce feed of superior quality.
 

Restraining Factors

Overall, a multitude of factors, such as the growing demand for organic products, the expansion of the agriculture sector, the adoption of precision agriculture, the government's support, the need for more animal feed, and changing weather patterns, all contribute to the growth of the hay and forage equipment market. But barriers like exorbitant costs, demand that varies seasonally, dependence on weather patterns, and continuous maintenance and repair expenses could prevent the industry from growing. Nonetheless, the cost element can impact overall usage and impede the expansion of the hay and feed equipment market.

Market Segmentation

The global agricultural haying and forage machinery market share is segmented into type and application.

•             The mowers segment dominates the market with the largest market share through the forecast period.

Based on the type, the global agricultural haying and forage machinery market is segmented into forage harvesters, conditioners, balers, mowers, and others. Among these, the mowers segment dominates the market with the largest market share through the forecast period. Mowers, conditioners, tedders, balers, and other equipment are examples of haying and forage equipment. Crops are cut with mowers, dried more quickly with conditioners, spread and turned for even drying with tedders; and compressed into bales for storage by balers. These kinds of equipment contribute to higher productivity overall, lower labor costs, and increased efficiency in the production of hay and fodder. Due to the advantages they offer to farmers in the sector, haying and forage machinery are in high demand.

• The large farms segment is anticipated to grow at the fastest CAGR growth through the forecast period.

Based on the application, the global agricultural haying and forage machinery market is segmented into large farms, small farms, and medium farms. Among these, the large farms segment is anticipated to grow at the fastest CAGR growth through the forecast period. Forage machinery and agricultural haying are utilized in large farms to efficiently harvest and prepare enormous amounts of fodder crops and hay. To effectively manage the huge land area, they are outfitted with advanced characteristics like automation, high speed, and enormous capacity. Small and medium farms utilize machinery for smaller-scale tasks, providing farmers with convenience and time savings. Due to the growing demand for high levels of productivity and efficiency in agriculture, large farms are the application segment with the fastest revenue growth. Overall, by increasing production and lowering labor costs, agricultural haying and forage machinery play a critical part in contemporary farming operations.

Regional Segment Analysis of the Global Agricultural Haying and Forage Machinery Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global agricultural haying and forage machinery market over the predicted timeframe.

North America is anticipated to hold the largest share of the global agricultural haying and forage machinery market over the predicted timeframe. The regional market growth can be attributed to the market demand in North America About half of the demand comes from the country's highly developed commercial agricultural sector. Advances in technology have led to self-propelled balers equipped with unparalleled driving style and maneuverability technology. The area has a long history of mechanized agriculture and is home to many of the world's best hay and forage equipment manufacturers. The U.S. has the largest hay and forage equipment market share in North America, followed by Canada and Mexico. Furthermore, North America is the home of key market players and continuously made advancements. For instance, In December 2022, The JAGUAR 900/800 forage harvesters from CLAAS included an automated reel speed adjustment system for PICK-UP fronts in addition to a newly developed GPS steering guidance system.

Asia Pacific is expected to grow at the fastest CAGR growth of the global agricultural haying and forage machinery market during the forecast period. Due to the mechanization of agricultural operations and the rising demand for fodder crops. The population is being encouraged to buy hay by growing livestock production as a subsidiary or primary source of income and growing understanding of animal nutrition, which is projected to propel the Asian hay-making machines market. The government also pushes for self-sufficiency. For Instance, schemes like the National Livestock Mission and the National Fodder Development Mission encourage the production of feed and the growing of fodder locally.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global agricultural haying and forage machinery market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• AGCO Corporation
• CLAAS
• CNH Industrial
• Deere & Company
• Krone North America Inc.
• Kubota Corporation
• Kuhn Group
• Yanmar Company Limited
• Mahindra Tractor
• Vermeer
• Claas
• Krone
• Minos
• Abbriata
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2023, The new 1 Series round baler with camless pickup from Massey Ferguson is intended for residue, stover, and dry hay baling applications. In North America, Massey Ferguson's 2900 Series is being replaced by the 1 Series, which is available in two variable-chamber models: the RB.146, which can produce round bales up to 4 by 6 feet, and the RB.156, which can produce bales up to 5 by 6 feet. The horsepower requirements for the RB.146 and RB.156 have been lowered by the camless pickup to 80 and 100 horsepower, respectively.

• In February 2022, A new age of concentrated performance is being introduced by AGCO Corporation (NYSE: AGCO), a global leader in the design, manufacture, and distribution of agricultural machinery and precision ag technology, with the introduction of the Massey Ferguson® 6S Series tractor in North America. During the National Farm Machinery Show in Louisville, Kentucky, from February 16–19, Massey Ferguson will make its debut with the MF 6S Series and its whole S Series lineup at booth 7823.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global agricultural haying and forage machinery market based on the below-mentioned segments: 

Global Agricultural Haying and Forage Machinery Market, By Product

• Forage Harvesters
• Conditioners
• Balers
• Mowers
• Others

Global Agricultural Haying and Forage Machinery Market, By Application

• Small Farms
• Medium Farms
• Large Farms

Global Agricultural Haying and Forage Machinery Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa