The global hay and forage rakes market size was valued at US$ 1.84 billion in 2023 and is expected to reach US$ 2.49 billion by 2031, growing at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031. The growth in the hay and forage rakes market is attributed to factors such as the increasing demand for high-quality forage, the rising adoption of mechanized farming practices, and technological advancements in hay and forage rakes.
Hay and Forage Rakes Market Trends:
According to U.S. Wheat Associates, in 2021, Applied and Environmental Microbiology (AEM), along with other organizations, conducted a study on the environmental benefits of precision agriculture. The research revealed that farmers who employed precision technology experienced a 4% boost in crop production, a 7% improvement in fertilizer placement efficiency, a 9% decrease in herbicide and pesticide usage, and a 6% reduction in fossil fuel consumption.
According to data from the U.S. Department of Agriculture, the number of rotary rakes sold to American farmers rose by over 15% between 2020 and 2022. Meanwhile, sales of traditional tedder rakes that fluff forages declined by a corresponding amount.
According to International Federation of Robotics (IFR), in 2022, the latest World Robotics report indicates a record-breaking installation of 517,385 new industrial robots in global factories during 2021. This signifies a year-on-year growth rate of 31%, surpassing the pre-pandemic record of robot installations in 2018 by 22%.
Hay and Forage Rakes Market Report Snapshots
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