Haying and Forage Machinery Market in North America to grow at a CAGR of 5.25% during the period 2016 - 2020; Finds New Report

Report forecast the haying and forage machinery market in North America to grow at a CAGR of 5.25% during the period 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.

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:

• Haying machinery
• Forage machinery

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.

Haying and Forage Machinery Market in North America 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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.

Market driver

• Advent of high-capacity haying machinery
• For a full, detailed list, view our report

Market challenge

• Increasing sales of preowned machinery
• For a full, detailed list, view our report

Market trend

• Incorporation of precision farming technologies
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 57 pages and 41 Exhibit “Haying and Forage Machinery Market in North America 2016 - 2020” report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Competitive landscape, Key competitor analysis, Appendix.

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