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Hay and Forage Rakes Market to grow at highest pace owing to increased livestock farming.

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Laxmi Ilme
Hay and Forage Rakes Market to grow at highest pace owing to increased livestock farming.

The global hay and forage rakes market is primarily driven by the rising demand for dairy and meat products across the globe. Hay and forage rakes are agricultural equipment used for raking and collecting cut hay or forage into windrows to facilitate further processing like drying, conditioning, baling, or loading. Hay and forage rakes allow for efficient collection of grass and legumes into rows, which can then be conditioned to reduce moisture for storage. They help preserve nutrients and conditioning improves palatability and digestibility for livestock. Different types of hay and forage rakes available in the market include side-delivery rakes, center-delivery rakes, and variable-width rakes.

The Global hay and forage rakes market is estimated to be valued at US$ 2.49 Bn in 2024 and is expected to exhibit a CAGR of 3.8% over the forecast period 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, Tonutti, Pottinger Agricultural Machinery. The growing dairy and meat industry globally has been a major factor boosting demand for Hay and Forage Rakes Market Size  farming equipment. Increasing focus on livestock welfare and quality fodder are further expected to drive market growth. Technological advancements like variable rake width, hydraulic folding, and transport systems have improved operational efficiency and convenience of modern hay and forage rakes.

Market Trends

One of the key trends in the hay and forage rakes market is the growing adoption of advanced variable-width rakes. Variable-width rakes allow adjustment of tine width as per hay row spacing for optimal windrow formation. This improves efficiency and reduces wastage. Another trend is rising integration of technologies like GPS and automatic section control in hay tools to enable precision farming capabilities like variable-rate application and sectioncontrol.

Market Opportunities

One of the major opportunities for hay and forage rakes manufacturers lies in Asia Pacific and Latin America. The rapidly growing demand for meat and dairy products in developing countries of these regions will drive hay and forage farming equipment adoption. Additionally, focus on livestock modernization and adoption of mechanization in agriculture will provide growth prospects. Precision farming features also offer opportunities for aftermarket revenues through software upgrades.

Impact of COVID-19 on Hay and Forage Rakes Market growth

The COVID-19 pandemic had a significant impact on the hay and forage rakes market. During the initial phases of the pandemic in 2020, lockdowns and travel restrictions disrupted the supply chains for hay and forage rake manufacturers. This led to delays in production and shortage of materials. As a result, market growth slowed down considerably that year. Farmers also faced difficulties in getting parts and servicing for their existing hay and forage rakes during that period. Post COVID, demand has started recovering again as lockdowns ease globally. However, rising costs of raw materials due to ongoing supply issues are negatively impacting market growth. For sustained recovery, manufacturers need to focus on streamlining supply chains, local sourcing of materials where possible and increasing production capacity. Adapting to new safety protocols is also key. Moving forward, demand for hay and forage rakes is expected to rise steadily with increasing mechanization on farms globally.

The United States holds the largest share of the hay and forage rakes market in terms of value due to high mechanization levels and large agricultural sector in the country. Canada and Mexico also contribute significantly to market size in North America region on account of widespread cattle farming. Europe is currently the second largest regional market led by countries like Germany, France and UK. India and China are fastest growing in Asia Pacific driven by rising incomes, government support for farm mechanization and expansion of dairy industries. Brazil and Argentina dominate the market in Latin America. With ongoing agricultural reforms and infrastructure growth, Africa region is expected to offer new opportunities over the coming years.

North America is currently the fastest growing regional market for hay and forage rakes mainly due to increase in export demand for dairy products from the region. The US is majorly driving this growth backed by rising mechanization, stable policies supporting agriculture sector and consolidation of small farms into larger ones. This increases demand for high capacity hay and forage rakes suitable for large acreages. Growing dairy farming is another key factor fueling sales across Canada and Mexico as well. With advanced technologies, favorable interest rates on loans for farm equipment and expansion to new export markets, the North America hay and forage rakes market is projected to continue outpacing global growth rates over the forecast period.

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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)

 

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