HAY AND FORAGE RAKES MARKET ANALYSIS

The global hay and forage rakes market size was valued at US$ 1.84 billion in 2023 and is expected to reach US$ 2.49 billion by 2031, growing at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031. The growth in the hay and forage rakes market is attributed to factors such as the increasing demand for high-quality forage, the rising adoption of mechanized farming practices, and technological advancements in hay and forage rakes.

Hay and Forage Rakes Market Regional Insights

• In 2023, North America dominated the hay and forage rakes market in terms of revenue share, followed by Europe and Asia Pacific. The growth in the North America region is attributed to factors such as the increasing adoption of mechanized farming practices, rising demand for high-quality forage, and the availability of advanced agriculture equipment. The percentage of market share in North America is estimated to be around 40%.
• Europe is also a significant market for hay and forage rakes, owing to the presence of a large number of small- and medium-sized farms in the region. The growing demand for high-quality forage and the adoption of advanced farming practices are driving the growth of the hay and forage rakes market in the region. The percentage of market share in Europe is approximately 30%.
• Asia Pacific is expected to witness significant growth in the hay and forage rakes market during the forecast period, owing to factors such as the increasing adoption of mechanized farming practices, growing demand for high-quality forage, and the development of agriculture infrastructure in emerging economies. The percentage of market share in Asia Pacific is around 20%.

Figure 1. Global Hay and Forage Rakes Market Share (%), By Region, 2023

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Analyst Viewpoint: The hay and forage rakes market is expected to witness moderate growth over the forecast period. The growing demand for cattle feed and emphasis on livestock modernization will drive market expansion. Countries with a large agriculture and dairy sector, such as the U.S., Canada, Germany, France, and Brazil, will remain the key revenue generators. Asia Pacific is projected to emerge as the fastest-growing regional market owing to the rising meat consumption in China and India.

Hay and Forage Rakes Market Drivers:

• Increasing demand for high-quality forage: The growing demand for high-quality forage, especially in the dairy and livestock industries, is driving the demand for hay and forage rakes. High-quality forage is essential for the health and productivity of livestock, and hay and forage rakes play a critical role in ensuring the quality of the forage. In 2021, according to a report by the Food and Agriculture Organization (FAO), the global livestock population is expected to increase by 70% by 2050. This growth in livestock population is driving the demand for high-quality forage.
• Rising adoption of mechanized farming practices: The increasing adoption of mechanized farming practices, such as the use of tractors and other agricultural equipment, is driving the demand for hay and forage rakes. Mechanization allows farmers to increase efficiency and productivity, and hay and forage rakes are an essential component of mechanized farming operations. According to the status of farm mechanization, as of August 2022, India has mechanized 47% of its agricultural activities, a figure that lags behind other developing nations like China (60%) and Brazil (75%). Additionally, small and marginal agricultural holdings, comprising those with less than two hectares, make up 86% of the total operational holdings.
• Growing demand for sustainable agriculture: The growing focus on sustainable agriculture and environmental conservation is driving the demand for hay and forage rakes. These products allow farmers to manage their land in an environmentally responsible manner and promote sustainable agriculture practices.

According to the Organization for Economic Co-operation and Development (OECD), utilizing this novel feature, a scenario analysis predicts that a 1% rise in fertilizer prices would correspond to a 0.2% increase in agricultural commodity prices. The primary application of agricultural commodities, global food consumption, is anticipated to grow by 1.3% annually in the next decade. This rate is slower compared to the preceding decade, attributed to the expected deceleration in both population and per capita income growth.

Hay and Forage Rakes Market Opportunities:

• Development of advanced hay and forage rakes: The development of advanced hay and forage rakes that offer improved performance, efficiency, and ease of use presents an opportunity for manufacturers to differentiate themselves in the market and capture a larger share of the market.
• Expansion into emerging markets: The hay and forage rakes market has significant potential for growth in emerging markets, where the adoption of mechanized farming practices is increasing. There is an opportunity to expand into these markets and offer innovative products that meet the specific needs and preferences of farmers in these regions.
• Focus on sustainability and environmental conservation: The growing focus on sustainability and environmental conservation presents an opportunity for manufacturers to develop hay and forage rakes that promote sustainable agriculture practices. These products can help farmers manage their land in an environmentally responsible manner and reduce their impact on the environment.
• Increasing demand for organic and non-GMO (Genetically modified organism) forage: The increasing demand for organic and non-GMO (Genetically modified organism) forage presents an opportunity for manufacturers to develop hay and forage rakes that are specifically designed for these types of forage. This can include products that are designed to minimize damage to the forage and preserve its nutritional value.

According to a report by the Research Institute of Organic Agriculture (FiBL), in 2021, global organic farmland increased by 2 million hectares to almost 71.5 million hectares in 2019, indicating a growing demand for organic products, including forage.

Hay and Forage Rakes Market Trends:

• Increasing adoption of precision agriculture: The trend towards precision agriculture, which involves the use of advanced technology and data analytics to optimize agricultural production, is driving the demand for advanced hay and forage rakes that are compatible with precision farming equipment.

According to U.S. Wheat Associates, in 2021, Applied and Environmental Microbiology (AEM), along with other organizations, conducted a study on the environmental benefits of precision agriculture. The research revealed that farmers who employed precision technology experienced a 4% boost in crop production, a 7% improvement in fertilizer placement efficiency, a 9% decrease in herbicide and pesticide usage, and a 6% reduction in fossil fuel consumption.

• Growing popularity of rotary rakes: The growing popularity of rotary rakes, which offer improved efficiency and performance compared to traditional hay and forage rakes, is driving the demand for these products. Rotary rakes are especially popular in regions with high moisture content in the forage.

According to data from the U.S. Department of Agriculture, the number of rotary rakes sold to American farmers rose by over 15% between 2020 and 2022. Meanwhile, sales of traditional tedder rakes that fluff forages declined by a corresponding amount.

• Focus on ergonomics and ease of use: The trend towards ergonomic and user-friendly designs is driving the demand for hay and forage rakes that are easy to operate and maintain. Manufacturers are incorporating features such as hydraulic controls, adjustable working widths, and user-friendly control panels to improve the ease of use of their products.
• Increasing use of automation and robotics: The increasing use of automation and robotics in agriculture is driving the demand for hay and forage rakes that are compatible with these technologies. This includes the use of sensors and GPS technology to improve precision and accuracy in hay and forage raking operations.

According to International Federation of Robotics (IFR), in 2022, the latest World Robotics report indicates a record-breaking installation of 517,385 new industrial robots in global factories during 2021. This signifies a year-on-year growth rate of 31%, surpassing the pre-pandemic record of robot installations in 2018 by 22%.

Hay and Forage Rakes Market Restraints:

• High capital investment: The high capital investment required to purchase and maintain hay and forage rakes may act as a restraint on market growth. Small and medium-sized farmers may find it difficult to invest in these products, which could limit the overall demand for hay and forage rakes.

Counterbalance: High capital investment is often a barrier to entry in many markets, including the Hay and Forage Rakes Market. Instead of purchasing expensive machinery outright, companies can lease equipment. This reduces the initial capital investment and spreads the cost over a longer period.

• Seasonal demand: The demand for hay and forage rakes is seasonal and dependent on factors such as weather conditions and crop yields. This can lead to fluctuations in demand and production, which may impact the profitability of manufacturers and distributors.

Counterbalance: Companies can diversify their product range to include equipment that can be used year-round or during different seasons. This can help maintain steady sales throughout the year.

• Lack of awareness and education: The lack of awareness and education about the benefits and proper use of hay and forage rakes may act as a restraint on market growth. Farmers may not be aware of the advantages of using hay and forage rakes or may not have access to the information and training needed to properly operate and maintain these products.

Counterbalance: Companies can collaborate with local agricultural departments or NGOs to conduct training and education programs for farmers. These programs can educate farmers about the benefits and proper usage of hay and forage rakes.

Recent Developments

Key Development

• In 2020, New Holland Agriculture  is a global brand of agricultural machinery introduced the ProCart 1022, a high-capacity carted wheel rake designed for large-scale hay and forage harvesting. The product features a working width of up to 22 feet and can be adjusted to create windrows of various sizes.
• In 2021, Massey Ferguson is a brand of agricultural machinery introduced the RK Series rotary rakes, designed for hay and forage harvesting. The product features a working width of up to 23 feet and offers improved performance and efficiency compared to traditional hay and forage rakes.
• In 2021, John Deere is a well-known American corporation that primarily operates in the agricultural introduced the F441M, a front-mounted rotary rake designed for hay and forage harvesting. The product features a working width of up to 14 feet and is designed for use with small- to medium-sized tractors.

Key Strategic Initiatives

• In 2020, AGCO Corporation is a global agricultural equipment manufacturer. Announced the acquisition of the forage division of Lely Group, a Netherlands-based manufacturer of agricultural machinery. The acquisition included Lely's hay and forage equipment product line, which includes rakes and tedders.
• In 2021, Vermeer is a global manufacturing company that specializes in the production of equipment acquired minority equity investment in MultiOne, a leading manufacturer of compact articulated loaders., A year following Vermeer's establishment of a distribution arrangement with MultiOne, which involves providing Vermeer-branded loaders for exclusive sale, service, and support through Vermeer dealers in North America and the Caribbean, Vermeer has now made a minority equity investment in MultiOne.

Figure 2. Global Hay and Forage Rakes Market Share (%), by Type, 2023

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Hay and Forage Rakes Market Top 15 Key Player

• 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

Definition: Hay and forage rakes are agricultural implements used in the harvesting and handling of hay and forage crops. They are designed to gather, rake, and manipulate cut grass, hay, or straw into rows or windrows for drying or subsequent processing.