Asia Pacific Forage And Forage Machinery Market – Growth, Trends, Impact Of Covid-19 And Forecast (2021)

The Asia Pacific Hay and Forage Machinery market is estimated to register a CAGR of 4.0%, during the forecast period (2021-2026). As the coronavirus pandemic continues to run its course, companies are scrambling to ensure the timely supply of these hay, forage and harvest machines.

NEW YORK, November 22, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report “Asia Pacific Hay and Forage Machinery Market – Growth, Trends, Impact of Covid-19 and Forecast (2021 – 2026)” – https://www.reportlinker.com/p06184939/?utm_source=GNW
But there is shrinkage in the market for these agricultural machinery due to the limited manpower available for production and transportation.

The agricultural industry largely relies on equipment to improve feed quality, yield, cost-effectiveness, and processes such as drying rate. Forage and hay machines are used in order to meet the increasing demand for animal feed plant. The increasing demand for automation in the agriculture sector in this region is likely to boost the forage and hay machine market during the forecast period.

Combine harvesters are still the most popular tools, with a well-developed ecosystem of manufacture and sales by Asian countries and local manufacturers. Asian countries like India, China and Japan are urging farmers to adopt the latest technologies through which they can boost productivity. China and Japan are moving towards independent farms in the coming years.

The Asia Pacific Hay and Forage Machinery market is integrated with major players dominating the market. Few of the major players competing in the market are CLAAS, AGCO Corporation, CNH Industrial, Deere and Company, Kubota Corporation among others.

Major market trends

Increase the rate of farm mechanization

Agricultural mechanization has played an important role in enhancing agricultural production and improving the livelihood of farmers in Asia in the past decades, both agricultural mechanization and its policies have developed and are not entirely independent issues.

The market for hay, forage and harvesting machinery is being driven by increasing rates of mechanization in Asia Pacific countries especially Japan and China. The shrinkage of land, water resources, and manpower has increased the need for farm mechanization in developing countries. Farm mechanization in developing countries such as China reached about 70% in 2019.

The tractor is one of the basic agricultural machinery used by most farmers. Tractor sales in Japan recorded 32,816 units in 2018. Most of the tractors sold are mid-size tractors with a capacity of 21-30 HP. The number of used tractors has increased significantly since 2016, the highest level recorded during 2019. Labor shortage, increased labor cost, favorable government policies, credit facilities and the need to increase agricultural productivity are the main factors causing the tractor sales to rise.

China dominates the market

With the increase in the demand for animal feed in the country, the area planted with forage crops also increases. The Chinese government continues to encourage more silage production and plans to increase the area planted with forage crops. It is estimated that by the end of 2020, China’s forage area will reach 6.3 million hectares, most of which will be forage maize. Hence, these factors are expected to drive the forage and hay machine market in these countries, during the forecast period.

The harvesting machine market in the country has a strong presence of foreign brands such as John Deere, Case New Holland and CLAAS. However, the market also includes local players such as Lovol Gushen, Shandong Juming, Brave Machinery, Zhongnong Boyuan and Hebei Yinghu.

In 2018, the level of mechanical harvesting of wheat and rice exceeded 90%. Therefore, it may be pointed out that the grain harvesting industry is in the maturity stage in the country. However, the level of mechanical harvesting of corn is 70%, as the industry still has room to grow further. According to the Agricultural Machinery Purchase Support System report, in 2018, there were at least 88 companies engaged in the manufacture of self-propelled corn harvesters. This means that there are many players in the market, which intensifies the competition.

Competitive scene

The Asia Pacific Hay and Forage Machinery market is integrated with major players dominating the market. Few of the major players competing in the market are CLAAS, AGCO Corporation, CNH Industrial, Deere and Company, Kubota Corporation among others. These players not only compete on the basis of product quality and product promotion, but also invest heavily to develop new product ranges, collaborate and acquire other companies, to increase their market share and strengthen their research and development activities.

Additional benefits:

Market Estimate Sheet (ME) in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06184939/?utm_source=GNW

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