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| Global Hay And Forage Rakes Market Growth |
Hay and forage rakes are agricultural equipment used for gathering cut and
windrowed hay or forage with minimal leaf loss. They help collect the cut
forage into windrows for easier collection and loading onto equipment for
baling or stacking. Rakes provide an efficient way to collect drying forage and
leaves with minimal damage.
The global
hay and forage rakes market is estimated to be valued at US$ 1.91 Bn in 2023
and is expected to exhibit CAGR of 6.2% over
the forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
The increased demand from the livestock industry is one of the key trends
driving the growth of the hay and forage rakes market. As the demand for dairy
and meat products rises globally with the increasing population, there is a
focus on improving cattle feed to maximize yield. Hay and forage rakes help
farmers efficiently collect cut crops and preserve nutrients, supporting higher
livestock growth and milk production. They provide an affordable and convenient
solution for cattle feed preparation. This growing demand from livestock owners
is expected to propel the hay and forage rakes market during the forecast
period.
Segment Analysis
The global hay and forage rakes market is dominated by round balers segment.
Round balers form cylindrical bales by rolling and binding crop material picked
up from the field into a round bale. The round balers sub-segment dominates as
it offers advantages such as reduced labor requirement for handling hay,
protection from rain and ability to store more bales in less space. It also
reduces wastage and protects the hay from damage during storage and
transportation.
Key Takeaways
Global
Hay And Forage Rakes Market Growth is expected to witness high growth over
the forecast period of 2023-2030. Regional analysis of the market shows North
America dominating the market currently due to increasing demand for dairy and
meat products. The region holds more than 35% of market share majorly driven by
the US. Asia Pacific is expected to witness fastest growth during the forecast
period with countries like China and India dominating the regional market.
Regional analysis
The Asia Pacific region is expected to witness the fastest growth in the hay
and forage rakes market during the forecast period. This is majorly due to the
increasing demand for animal feed from countries like China and India.
Governments in the region are promoting initiatives to enhance agricultural
productivity which is positively impacting the hay and forage rakes market.
China dominates the Asia Pacific regional market with increasing livestock
population and rising demand for meat and dairy.
Key players
Key players operating in the hay and forage rakes market are Richel Group,
Argus Control Systems Ltd, Rough Brothers Inc., Certhon, Logiqs BV, Lumigrow
Inc., Nexus Corporation, Hort Americas, Heliospectra AB, and Agra Tech Inc.
Richel Group and Rough Brothers Inc. hold a major share in the market.
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