LONDON–(BUSINESS WIRE)–The global self-propelled forage harvesters market is expected to grow by USD 664.27 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 8%.
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Read the 127-page report with TOC on “Self-Propelled Forage Harvesters Market Analysis Report by Product (Hydraulic actuators and Electronic actuators), Geography (Europe, APAC, North America, South America, and MEA), and the Segment Forecasts, 2020-2024”. Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/self-propelled-forage-harvesters-market-industry-analysis
The self-propelled forage harvesters market is driven by the rising demand for silages with increased quality. In addition, the support from governments to develop the agriculture segment is anticipated to boost the growth of the self-propelled forage harvesters market.
Agricultural operations such as harvesting need to be performed at the appropriate time to achieve optimum yield. Any delay would severely affect the yield and quality of the crop. Also, the adoption of manual methods of harvesting are both time and labor-intensive. Hence, farmers are increasingly adopting agricultural harvesters such as self-propelled forage harvesters that increase the quality of silage and profitability. Besides, the production of milk is increasing across the world. Milk producers are one of the key end-users of silages. This is increasing the demand for harvesting machinery to increase the quality of silages. Therefore, the rising need for producing silages with increased quality by end-users will influence the growth of the self-propelled forage harvesters market during the forecast period.
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Major Five Self-Propelled Forage Harvesters Companies:
AGCO Corp.
AGCO Corp. operates its business through segments such as North America, South America, Europe/Middle East, and Asia/Pacific/Africa. The company offers WR9800 self-propelled windrowers designed specifically for forage harvesting.
Bernard KRONE Holding SE & Co. KG
Bernard KRONE Holding SE & Co. KG operates its business through segments such as Commercial vehicles and Agricultural machinery. The company offers BiG X series of self-propelled forage harvesters.
CLAAS Group
CLAAS Group operates its business through a unified segment. The company offers JAGUAR 800 model series, JAGUAR 900 model series, and JAGUAR 960 TERRA TRAC Self-propelled forage harvester.
CNH Industrial NV
CNH Industrial NV operates its business through segments such as Agricultural equipment, Construction equipment, Commercial and specialty vehicles, Powertrains, and Financial services. The company’s subsidiary New Holland offers FR500 self-propelled forage harvesters.
DE PIETRI Srl
DE PIETRI Srl operates its business through segments such as Electric horticulture machines, Horticultural machines, Agricultural machinery, and Used machine. The company offers FR 140 SL harvester-loader for the cutting and picking up of green forage.
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Self-Propelled Forage Harvesters Market Product Outlook (Revenue, USD Million, 2020-2024)
- Hydraulic actuators
- Electronic actuators
Self-Propelled Forage Harvesters Market Geography Outlook (Revenue, USD Million, 2020-2024)
- Europe
- APAC
- North America
- South America
- MEA
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