According to the recent research report titled ‘Global Haying and Forage Machinery Market size study by Type (Mowers, Balers, and Forage Harvesters) Regional Forecasts 2021-2027’, available with MarketStudyReport, global haying and forage machinery market is expected to progress at a CAGR of 3.8% over 2021-2027.
 

As per the report findings, global haying and forage machinery market growth can be credited to rising cultivation of forage crops and surging demand for automation solutions in the farming sector.
 

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For the unversed, haying and forage machinery is used to meet the growing need for plant-based animal feed. The agriculture industry heavily relies on equipment to increase feed quality, productivity, cost-effectiveness, and operations such as drying rate. The machineries include sickle bar mowers, conditioner-mowers, and other devices that are gaining popularity among farmers due to their benefits.
 

Elaborating on factors restraining the industry expansion, hefty product cost is likely to act as a challenge for businesses operating in this domain.
 

Coming to geographical terrain, North America haying and forage machinery industry is expected to grow substantially in the coming years, with United States at the forefront. The growth can be ascribed to the country's highly developed commercial agriculture sector.
 

The growing area under forage crops like alfalfa is a major growth propeller for the market in this region. Technical advancements, along with introduction of self-propelled balers equipped with technology that gives great riding quality and agility a are few other factors adding to the regional market expansion.
 

Canada will also contribute significantly to the regional market growth. According to empirical evidence, Canadian farmers buy more than USD 2 billion worth of machines and implements each year, including an average of 4,000 grain at low interest rates, as well as harvesters and balers, thanks to loans and credit facilities that help with farm equipment purchases in the country.
 

Moving on to competitive landscape, major firms operating in worldwide haying and forage machinery market sphere are Buhler Industries Inc., CLAAS Group, Farm King, Kuhn Group, Yanmar Holdings Co. Ltd., Kubota Corporation, CNH Industrial, Deere & Company, AGCO Corporation, and Krone North America Inc.