Market News
Recent Developments
Key Development
- In 2020, New Holland Agriculture is a global brand of agricultural machinery introduced the ProCart 1022, a high-capacity carted wheel rake designed for large-scale hay and forage harvesting. The product features a working width of up to 22 feet and can be adjusted to create windrows of various sizes.
- In 2021, Massey Ferguson is a brand of agricultural machinery introduced the RK Series rotary rakes, designed for hay and forage harvesting. The product features a working width of up to 23 feet and offers improved performance and efficiency compared to traditional hay and forage rakes.
- In 2021, John Deere is a well-known American corporation that primarily operates in the agricultural introduced the F441M, a front-mounted rotary rake designed for hay and forage harvesting. The product features a working width of up to 14 feet and is designed for use with small- to medium-sized tractors.
Key Strategic Initiatives
- In 2020, AGCO Corporation is a global agricultural equipment manufacturer. Announced the acquisition of the forage division of Lely Group, a Netherlands-based manufacturer of agricultural machinery. The acquisition included Lely's hay and forage equipment product line, which includes rakes and tedders.
- In 2021, Vermeer is a global manufacturing company that specializes in the production of equipment acquired minority equity investment in MultiOne, a leading manufacturer of compact articulated loaders., A year following Vermeer's establishment of a distribution arrangement with MultiOne, which involves providing Vermeer-branded loaders for exclusive sale, service, and support through Vermeer dealers in North America and the Caribbean, Vermeer has now made a minority equity investment in MultiOne.
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