Asia Pacific Haying and Forage Machinery Market - Market Growth, Trends and Forecast (2020 - 2025)
|出版商||Mordor Intelligence Pvt Ltd||商品編碼||965084|
|出版日期||內容資訊||英文 115 Pages
|亞太地區的乾草及飼料機器市場-市場成長，趨勢及預測(2020年∼2025年) Asia Pacific Haying and Forage Machinery Market - Market Growth, Trends and Forecast (2020 - 2025)|
|出版日期: 2020年08月01日||內容資訊: 英文 115 Pages||
The Asia Pacific Haying and Forage Machinery market is estimated to register a CAGR of 3.3%, during the forecast period (2020-2025). The agriculture industry largely depends on the equipment to enhance forage quality, output, cost-effectiveness, and processes such as the rate of drying. Haying and forage machinery is utilized in order to cater to the rising demand for plant-based feed for animals. Growing demand for automation in the farming sector in this region is likely to boost the haying and forage machinery market during the forecast period. The major drivers for this market include increasing cultivation of forage crops, government subsidies for purchasing agriculture machinery, the labor shortage in developed countries, increased livestock population, and demand for silage and haylage by the livestock industry. High costs of machinery and lack of adoption of machinery act as major constraints for this market in this region. The Asia-Pacific Haying and Forage Machinery market is consolidated with major players dominating the market. Few major players competing in the market are CLAAS, AGCO Corporation, CNH Industrial, Deere and Company, Kubota Corporation, among others.
Increasing Cultivation of Forage Crops for Livestock feed
The haying and forage machinery industry and livestock industry are interrelated and have grown simultaneously. With the growing livestock population in the Asia-Pacific region, their feed demands are also increasing and are, in turn, driving the Haying and Forage machinery market in this region. The livestock population has increased from 2278.1 million in 2017 to 2307.7 million in the year 2019, showing an increase of 1.2% over 2017. As the Asia-Pacific region is experiencing an increase in the consumption rates of livestock products such as milk, eggs, meat, and others on a regular basis, the farmers are pressurized to produce more forage crops to meet the growing animal feed demand. China and India, being the major forage crop cultivators in Asia, are likely to see more adoption of haying and forage machinery in their forage crop cultivation during the forecast period.
India and China - The Fastest-Growing Markets for Haying and and Forage Machinery
India and China are the fastest-growing markets in the Asia-Pacific region and even on a global scale. Their markets encompass a variety of machines such as mowers, conditioners, balers, forage harvesters, and rakes.*As a result of various government subsidies in these countries, the demand for this market is increasing at a wide range. In India, the Department of Agriculture, Cooperation, and Farmers Welfare (DAC&FW) provides Subsidy to farmers through State Governments under different schemes, such as Sub-Mission on Agricultural Mechanization (SMAM), Rashtriya Krishi Vikas Yojna (RKVY) for purchase of various agricultural equipment and machines. Moreover, with the rising demand for animal feed in the country, the area under forage crop cultivation is also increasing. The Chinese government is continuing to encourage more silage production and is planning to increase the area under forage crop cultivation. It is estimated that by the end of 2020, the forage areas in China will reach 6.3 million hectares, of which most will be corn silage. Hence, these factors are anticipated to drive the Haying and Forage Machinery market in these countries, during the forecast period.
The Asia-Pacific Haying and Forage Machinery market is consolidated with major players dominating the market. Few major players competing in the market are CLAAS, AGCO Corporation, CNH Industrial, Deere and Company, Kubota Corporation, among others. These players are not only competing based on product quality and product promotion, but are also investing heavily to develop new product ranges, and are collaborating and acquiring other companies, to increase their market share and strengthen their R&D activities. For instance, in the year 2017, AGCO Corporation acquired a forage division*of Lely Group, New Zealand, a leading manufacturer of equipment like round balers, rakes, loader wagons, tedders, mowers, and tillage products, to further strengthen AGCO's full line product offering and occupy a major market share.