Increased Use Of Plant-Based Feed For Animals Is To Propel Demand In The Haying Machines Industry
Haying Machines Global Market Report 2021: COVID 19 Impact And Recovery To 2030
The Business Research Company’s Haying Machines Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, March 3, 2021 /EINPresswire.com/ -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact:
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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 million which recorded an increase of 4.6% over the Livestock Census 2012. According to the People for the Ethical Treatment of Animals, in 2018, 80% of the total agricultural land in the USA is used to raise animals for food and cultivate grain to feed them, which is nearly half the total landmass of the lower 48 states. 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 other plant based-feed for animals is likely to propel the growth of the haying machines market.
TBRC’s haying machinery market report is segmented by machine type into mowers, tedders, and rakes, balers, others, by sales channel into OEMs, aftermarket.
The global haying machines market size is expected to grow from $21.34 billion in 2020 to $23.61 billion in 2021 at a compound annual growth rate (CAGR) of 10.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $32.84 billion in 2025 at a CAGR of 8.6%.
The major players covered in the agricultural haying and forage machinery market are AGCO Corporation, Buhler Industries Inc, Kuhn Group, Kubota, Deere & Company, CLAAS, CNH Industrial, IHI, Pottinger Landtechnik, Buhler Industries, Iseki, Krone, CNH Industrial, Bernard Krone Holding, Kverneland, Lely, Vermeer, Foton Lovol, Alois Pttinger Maschinenfabrik GmbH.
Haying Machines Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides haying machines market overview, forecast haying machines market size and growth for the whole market, haying machines market segments, and geographies, haying machines market trends, haying machines market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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