Global Milking Machines Market Outlook Forecast 2024 - 2033
23 Aug, 2024
The milking machines market has demonstrated robust growth, escalating from $3.79 billion in 2023 to $4.09 billion in 2024 with a compound annual growth rate (CAGR) of 7.9%. The expansion in the historic period is attributed to population growth, significant investment in dairy farming, an increase in the dairy cattle population, and improvements in the quality and yield of milk. Projecting sustained growth, the market is expected to reach $5.4 billion in 2028, fueled by a CAGR of 7.2%. The anticipated growth in the forecast period is influenced by rapidly-expanding organic dairy businesses, a growing demand for milk and dairy products, and a focus on reducing labor dependency. Major trends in the forecast period include the adoption of robotic milking systems, investments in artificial intelligence (AI), the utilization of IoT, investments in 5G to digitize dairy farms, and considerations for strategic collaborations or acquisitions.
Major Driver In The Milking Machines Market
The upsurge in dairy cattle breeding is expected to drive the demand for milking machines. According to the Central Statistics Office, Ireland, in October 2021, the dairy cow population reached 1,567,700 in 2020, a 4.2% increase from 2019. Additionally, data from the US Department of Agriculture Foreign Agriculture Service in May 2021 indicated that the global dairy cow count rose to 137 million in 2020, with predictions for 2021 estimating it to surpass 138 million. This significant growth in the global dairy cattle population has directly led to increased milking production, driving revenues in the milking machinery market. The market size for milking machines reflects this growth in 2023, with further expansion anticipated in 2024 and 2028.
Request A Free Sample Of The Global Milking Machines Market ReportMilking Machines Market Competitive Landscape
DeLaval Inc., GEA Group, Lely Holding SARL, BouMatic Robotics B.V., Fullwood Packo, Afimilk Ltd., S. A. Christensen & Co, Milkplan, Prompt Dairy Tech, AMS-Galaxy USA, Handtop Tech Co Ltd., Arcnut Agro Machinery, Yuyao Yuhai Livestock Machinery Technology Co., Ltd., Shanghai Ruike Machinery Equipment Co.,Ltd., Demir Packing & Agricultural Machinery, Daviesway, ORION Machinery Co., ltd., Vansun Technologies Pvt. Ltd., EE-Media, Genjing Records, Ocean Butterflies Music, Pest Productions, Outdustry, Split Works, Popsport, ADFmilking Ltd., Agrifac Machinery BV, Pjur Group Luxembourg S.A., Kanters Holland BV, Bob-White Systems Inc, Vevor, Slavic Beauty, Dansha Farms, The Coburn Company, Alfa Laval, UKAL Canada, Damate Group, Triunfo Indústria Metalúrgica, Melasty, LUSNA, SEZER Milking Technologies, Al Ain Farms, WaikatoSA, miRobot LTD., Bisstarr Milking Systems
Key Milking Machines Market Trend
Leading companies in the milking machines market are innovating with products like rotary milking systems to offer reliable services. A rotary milking system uses a rotating platform to move cows past milking stalls. For example, in March 2023, DeLaval, a Sweden-based manufacturer, launched the DeLaval Rotary E500. This system prioritizes natural milk flow with flow-adjusted vacuum technology, adapting the vacuum level to each cow’s needs. The DeLaval Rotary E500 can milk up to 1,066 cows per hour and ensures a gentle and efficient milking experience through its Flow-Responsive Milking technology.
Get The Full Global Milking Machines Market Report
Milking Machines Market Segmentation
The milking machines market covered in this report is segmented –
1) By Product Type: Fully Automatic, Semi-Automatic
2) By Livestock: Cow, Sheep, Goat, Buffalo, Others
3) By Application: Micro Dairy Farms, Macro Dairy Farms, Others
By Geography:The regions covered in the milking machines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The Asia-Pacific was the largest region in the milking machines market in 2023.
The Milking Machines Global Market Report 2024 furnishes information about the global milking machines market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.