Dublin, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The "Self-Propelled Forage Harvesters - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Self-Propelled Forage Harvesters was valued at an estimated US$1.7 Billion in 2023 and is projected to reach US$2.7 Billion by 2030, growing at a CAGR of 6.9% from 2023 to 2030.
The market is witnessing the increasing use of advanced technologies such as GPS and automated steering systems, which enhance the accuracy and efficiency of harvesting operations, thus leading to precise crop management and improved productivity. There is also a noticeable shift towards sustainable and environmentally friendly practices, driven by innovations aimed at reducing fuel consumption and emissions. The development of smart features like real-time yield monitoring and data analytics helps farmers optimize their harvesting processes, resulting in better crop management and higher yields.
Further, the growing awareness and adoption of renewable energy sources, such as using crop residues for biofuel production, are creating new market opportunities. With continuous technological advancements and strong government support, the self-propelled forage harvesters market is expected to experience significant growth in the coming years, revolutionizing agricultural practices and enhancing productivity worldwide.
Market Trends & Drivers
- Increasing Demand for High-Quality Silage Spurs Growth
- Integration of IoT and AI Expands Addressable Market Opportunity
- Global Shortage of Farm Labor Drives Adoption of Automated Harvesters
- Sustainable Farming Practices Propel Growth
- Precision Farming Technologies Optimize Harvesting
- Growing Livestock Industry Accelerates Demand for Forage Harvesters
- Advanced GPS and Automated Steering Systems Enhance Operational Efficiency
- Shift towards Environmentally Friendly Practices Throws the Spotlight on Sustainable Equipment
- Real-Time Data Analytics Generates Demand for Smart Harvesters
- Development of Multifunctional Harvesters Expands Addressable Market
- Enhanced Safety Features in Modern Harvesters Strengthen Market Appeal
- Expansion of High-Capacity Forage Harvesters Drive Higher Efficiency
- Rising Investments in Agricultural Machinery Accelerate Market Growth
- Integration with Smart Farming Ecosystems Strengthens Business Case for Advanced Harvesters
- Technological Innovations in Chopping Mechanisms Propel Efficiency
- Adoption of Hybrid and Electric Harvesters Spurs Sustainable Practices
- Increasing Importance of Silage Quality in Milk Production Generates Demand
- Development of Compact and Mobile Harvesters for Varied Farm Sizes Propels Growth
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Hydraulic Actuators segment, which is expected to reach US$1.7 Billion by 2030 with a CAGR of a 6.7%. The Electronic Actuators segment is also set to grow at 7.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $452.8 Million in 2023, and China, forecasted to grow at an impressive 6.7% CAGR to reach $439.5 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Self-Propelled Forage Harvesters Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as AGCO Corporation, Alois Pottinger Maschinenfabrik Ges.m.b.H., Chaany Agro Industries, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors Featured:
- AGCO Corporation
- Alois Pottinger Maschinenfabrik Ges.m.b.H.
- Chaany Agro Industries
- CLAAS of America
- CNH Industrial
- Deere & Company
- Gomselmash India Pvt Ltd.
- JF Maquinas Agricolas
- Krone NA, Inc.
- Kubota Australia
- Maschinenfabrik Bernard Krone
- New Holland Agriculture (Italy)
- Rostselmash
- Zoomlion Heavy Industry Science & Technology Co., Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.7 Billion |
| Forecasted Market Value (USD) by 2030 | $2.7 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/r7wh0p
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