Global Forage Harvester Market Overview:
A forage harvester is known as a silage harvester, forager or chopper. It is a farm appliance that harvests forage plants to make silage, silage is grass, corn or other plants that have been cut into small pieces, and compacted together in grain storage, or in silage bags. The silage is then fermented to provide food for livestock. The growth of the market is due to the rising demand for silages with increased quality. The increasing area under forage crops is the main factor which is helping the growth of the market.
As per latest study released by AMA Research, the Global Forage Harvester market is expected to see growth rate of 7.0%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Technological Innovation and Advancement in Harvester
Market Growth Drivers:
Increasing the Cultivation of Forage Crops and Growing Demand for Agricultural Machines Worldwide
Challenges:
Growing Inclination toward Pre-Used, Rented and Self-Propelled Forage Harvesters
Restraints:
Complications Associated with Certain Products and High Cost of the Machines
Opportunities:
Rising Demand of this Equipments due to Their Benefits and Support from Governments to Develop Forage Segment
Competitive Landscape:
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on production technologies, efficiency enhancement, and product life. This market has various growth opportunities that leading players capture via tracking the ongoing process enhancement and huge investment in market growth strategies.
Some of the key players profiled in the report are AGCO (United States), CLAAS (Germany), CNH Industrial (United Kingdom), Deere and Company (United States), Kubota (Japan), Buhler Industries (Canada), Foton Lovol (China), IHI (Japan) and Krone (Japan). Analyst at AMA Research see Japnese Vendors to retain maximum share of Global Forage Harvester market by 2030. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Forage Harvester market.
Latest Market Insights:
In November 2023, CLAAS acquired a majority stake in La Gée, a French manufacturer of self-propelled forage harvesters. This move strengthens CLAAS's position in the European market and expands its product portfolio.
In January 2024, CLAAS unveils the LEXION 8900 TERRA TRAC, a new high-horsepower forage harvester featuring a unique tracked chassis for improved traction and soil protection.
What Can be Explored with the Forage Harvester Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Forage Harvester Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Forage Harvester
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Forage Harvester market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Forage Harvester market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Forage Harvester Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.