- The key vendors in the haying machinery market in the US 2015-2019 are AGCO Corp., Alois Pöttinger Maschinenfabrik Ges.m.b.H, CNH Industrial NV and Deere & Company
London, 28 May 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the haying machinery market in the US 2015-2019. The demand for superior capacity machines is one of the major trends emerging in the market. The end-users of hay and foraging equipment are expecting higher quality field output and are paying increased attention to the cost of ownership. Manufacturers have responded by producing larger and faster equipment that requires low maintenance. The haying machinery market in the US 2015-2019 is expected to register a CAGR of 3.83% during 2014-2019.
The market has grown considerably with the demand for meat and dairy, which has increased over time with the growth in population. Dairy and meat producers have subsequently increased production to meet the demand and spurred the need for more hay, thereby increasing the demand for equipment to produce hay.
“Market players are striving to integrate advanced electronics such as GPS, yield monitoring, autopilot technology, and fleet management into haying and forage machinery,” says Faisal Ghaus, Vice President of Technavio Research.
“Safety and fertilizing regulations, and demand for custom harvesters, are further driving development in precision farming.”
To define the market conditions 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.
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