LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent haying and forage machinery market in North America report. This research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.
Farm mechanization practices and farm consolidation in the region are intensifying the demand for high-capacity haying machinery that provides a high-quality output with an increase in ownership cost and low maintenance. For instance, pull-type forage harvesters are high-capacity machines that provide better sharpening and cutting ability in the terrain. The machine includes a header and cylindrical cutter with a rotating knife. One of the pull-type forage harvesters is Case IH FHX300 with 1,000 rpm driveline, wide header, and heavy-duty components. The machine cuts the crops uniformly and converts them into high-quality feed.
Competitive vendor landscape
The haying and forage machinery market in North America is highly segmented and consists of a vast number of big and mid-sized players. Haying and forage machinery production chains are geographically large, simple, and interlinked. The competitors of haying and forage machinery market are constantly looking for opportunities in the market to increase their product efficiency. The market is anticipated to experience a sharp rise in the production capacity as the competitors are embracing advanced methods of production. Many competitors are adopting the strategy of developing new production plants or acquiring existing players to increase their production capacity. The increase in production capacity will allow the players to meet the growing demands of haying and forage machinery in the forecast period.
“The vendors are using their prowess to provide high-performance, technologically advanced haying and forage machinery to provide farmers with upgraded performance machinery with greater value for their investment,” says Mantri Charan Kumar, one of the lead retail goods and services research analysts from Technavio.
The report also states that the vendors compete with each other on many factors, including price, quality, brand, and variety. Different companies use different strategies to enter and retain their share in the market. Acquisition of new enterprises would enable the leading competitors to maintain their dominance in North America haying and forage machinery market throughout the forecast period.
The market is highly competitive as there is substantial demand from different agricultural sectors, and all the players are competing to secure a continuous and eminent market share. Intense competition, rapid advances in lightweight materials and technology, and changes in consumer preferences constitute significant risks for vendors. Therefore, to survive and succeed in this environment of cut-throat competition, it is essential for market vendors to distinguish their product offerings from a clear and unique value proposition, and expand geographically.
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Top five haying and forage machinery market vendors in North America
AGCO offers advanced technologies in its farm equipment, which helps farmers maximize the production with minimum loss, and conserve the existing resources essential to meet the growing requirements for food, fuel, and fiber. Sustainability plays a vital role in company’s production practices.
The company focuses on investing in new technology to develop high-performance, energy-efficient products. It aims to develop products through a series of steps from the evaluation of innovative concepts to the final stage of product development. This helps the company develop products that are eco-friendly, high-tech, ergonomic, safe, and cost-effective. In October 2015, it launched new CARGOS 9000, a chopping transport wagon, and in August 2015, the company launched a new hillside Montana version of the LEXION 750. A strong focus on R&D helps the company in meeting the changing market needs and enhancing its product portfolio.
CNH is taking numerous strategic initiatives to drive its growth. In April 2015, the company introduced commercial vehicles of heavy, medium, and light ranges in Malaysia. In November 2014, the company acquired Miller-St. Nazianz, Inc., a manufacturer of precision spraying equipment. In October 2014, the company’s New Holland Agriculture brand launched CR10.90 combine harvester in Australia, and Case IH launched new Axial-Flow 4000 Series in China. These initiatives are expected to strengthen the company’s operations and increase its returns.
Deere and Co.
Deere and Co.’s product technologies help to make the most efficient use of machines. The company manufactures high-quality innovative products and is committed to safeguarding the environment through its corporate citizenship (CC) activities.
KUHN focuses on providing superior services to farmers and farming professionals by offering long-term value with a maximum return on their equipment investment. The company has invested significantly in engineering, R&D, and production, which leads to the future growth of the company. It invested 4% of its turnover in R&D, i.e., USD 44 million in 2015.
The other prominent vendors are:
Browse Related Reports:
- Global Haying and Forage Machinery Market 2016-2020
- Agricultural Machinery Market in the US 2016-2020
- Agricultural Machinery Market in India 2015-2019
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