June 14, 2024
hay and forage rakes market

Hay and Forage Rakes Market is Driven by Increasing Demand for High-quality Fodders

The hay and forage rakes market is an essential part of farm equipment used for gathering and collecting cut hay crops into rows or windrows to aid drying and ease subsequent handling during baling or stacking. Hay and forage rakes are designed for raking hay, straw and other livestock fodder crops. They work by lifting the cut crop off the ground using spring-loaded tines or wheels, then deposits it further along in neat rows. This helps the crops to dry thoroughly before baling.

The global hay and forage rakes market is estimated to be valued at US$ 2.21 Mn in 2024 and is expected to exhibit a CAGR of 6.8% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Hay and Forage Rakes Market Size are Philips Healthcare, Cerner Corporation, Agfa Healthcare, Fujifilm Holdings Corporation, Allscripts Healthcare Solutions Inc., Sectra, Epic Systems Corporation, General Electric Company, Siemens AG, McKesson Corporation, Wellbeing Software, Merge Healthcare Incorporated, Medinformatix Inc., eRAD, Inc., and RamSoft Inc.

The demand for hay and forage rakes is growing owing to the rising demand for high-quality fodder from dairy farmers and livestock owners. The rakes help gather crops efficiently and aid in proper drying, improving the nutritional value and digestibility of the fodder.

Major manufacturers of hay and forage rakes are focusing on expanding their global footprint by strengthening their distribution networks across Asian and Latin American countries. Strong growth is expected in countries with a significant dairy and livestock farming industry such as China, India, Brazil, and Australia.

Market key trends

One of the key trends gaining traction in the hay and forage rakes market is the increasing popularity of tractor-pulled drags or dragel rakes. Drags have flexible tines that float over the ground to gather crops gently without damaging plants or seedheads. They are suitable for row crops and present a good alternative to wheel rakes. Drags leave the crop in a fluffed windrow, improving drying without clumping or fist-balls that hamper drying. This trend is expected to continue driving market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: Low capital requirements and know-how pose a low threat of new domestic entrants. However, threat from international firms is high.

Bargaining power of buyers: Numerous buyers and their bulk purchase ability drives prices down.

Bargaining power of suppliers: Few machinery producers for Hay and Forage Rakes Market Size globally means high supplier bargaining power.

Threat of new substitutes: No close substitutes presently exist for rake function in hay harvest.

Competitive rivalry: Global players compete aggressively on technology, quality, brand reputation and price.

Geographical Regions

North America accounts for the largest share currently due to extensive cattle farming. Europe is another major region fueled by widespread cattle and dairy farming.

Fastest growing region for hay and forage rakes market is Asia Pacific. Mechanization of agriculture is spreading rapidly in densely populated countries like India and China which are major livestock producers. Growing demand for dairy and meat products is boosting hay harvest mechanization in the region.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it