Hay and Forage Rakes Market Set to Grow at a Robust Pace Due to Rising Demand for Animal Feed

 

Hay and Forage Rakes Market 

The hay and forage rakes market comprises farming equipment used for collecting and conditioning cut hay or forage crops. Key products include wheel rakes and wheel disc rakes. Hay and forage rakes are crucial for effective harvesting as they allow farmers to collect crop residues evenly and in narrow windrows for efficient drying before baling. Mechanical conditioning helps break plant stems and speeds up the drying process.

The global hay and forage rakes market is estimated to be valued at US$ 2.49 billion in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the hay and forage rakes market are John Deere, Vermeer Corporation, Kuhn Group, AGCO Corporation, Krone North America, New Holland Agriculture, Claas Group, Kubota Corporation, Fella Maschinenbau GmbH, Sitrex S.p.A., Enorossi, and Tonutti. Growing demand for livestock feed due to expanding meat consumption globally is driving sales of Hay and Forage Rakes Market Size harvesting equipment such as rakes. Key opportunities include introducing product innovations for compact equipment suitable for small farms and innovations to facilitate automation in hay raking. Leading manufacturers are expanding globally through partnerships and acquisitions to strengthen foothold across Europe, North America, Asia Pacific, and Latin America.

Market Drivers

Increasing Meat Consumption: Rising global population and growing meat consumption per capita are fueling demand for livestock such as cattle and poultry, necessitating higher feed production. This is driving demand for efficient hay and forage harvesting solutions for fodder production.

Mechanization of Agriculture: Shortage of farm labor is prompting more farmers worldwide to invest in mechanized hay and forage harvesting equipment such as wheel rakes and rotary rakes for higher productivity and ease of operation.

Market Restraints

High Capital Cost: Initial purchase cost of new hay and forage rakes can be high for smallholder farms, especially in developing nations, limiting adoption.

Lack of Standardization: Fodder harvesting and conditioning needs differ based on crop varieties and seasonal conditions. Lack of universal standardization in rake design poses challenges for manufacturers.

Segment Analysis

The tractor-pulled hay and forage rakes sub segment dominates the market, accounting for over 60% share. This is because tractor-pulled hay and forage rakes have larger working width and can cover more area in less time for hay raking applications on large acreage farms. Self-propelled hay and forage rakes sub segment is growing at a faster pace due to rising popularity among small and medium scale farmers owning smaller farms with limited acreage.

Global Analysis

North America dominates the hay and forage rakes market with over 35% share due to large scale farming practices and growing adoption of advanced agricultural equipment. The US is the prime revenue generator in North America. Europe is the second largest market on account of increasing mechanization in crops harvesting across countries such as Germany, UK, France and Italy. Asia Pacific is poised to be the fastest growing region during the forecast period. This is attributed to rapidly growing population, rising meat consumption and expansion of dairy and livestock industries in countries like China and India where availability of labor is declining.

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About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)