London, 11 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the global haying and forage machinery market 2015-2019, which is expected to grow at a CAGR of 3.74 % during the forecast period of 2014-2019.
Increased consumption of meat and dairy products is expected to fuel the global haying and forage machinery market during the forecast period. The dietary demands of consumers are changing. As a result, there has been a rapid rise in consumption of meat and dairy products, driving the demand for livestock feed.
“Rising input costs, higher competition, and limitations on land use have prompted efforts to boost field productivity,” says Faisal Ghaus, Vice President of Technavio.
“Market players are working towards integrating advanced electronics like GPS, yield monitoring, autopilot technology and fleet management into haying and forage machinery.”
Key Market Drivers
- Increased Consumption of Meat and Dairy Products
- Demand for Efficient Haying Operations
- Increase in Farm Size
- Mechanization Drive in Emerging Countries
- Increased Government Support
Key Market Trends
- Incorporation of Precision Farming Technologies
- Demand for Higher Capacities
- Growing Prominence of Telematics Technology
- Growing Versatility
- Constant Product Introductions
Key Market Vendors
- AGCO Corp.
- Alois Pöttinger Maschinenfabrik GmbH
- CLAAS KGaA mbH
- CNH Industrial NV
- Deere & Co.
- Kubota Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
