Global Milking Machines Market Size 2024, Forecast To 2033
11 Mar, 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.
Global Milking Machines Market Key Driver
The upsurge in dairy cattle breeding is anticipated to fuel the demand for milking machines, as reported in October 2021 by the Central Statistics Office, Ireland. In 2020, the dairy cow population reached 1,567,700, reflecting a notable 4.2% increase from 2019. Additionally, global data from the US Department of Agriculture Foreign Agriculture Service in May 2021 indicated a rise in the global dairy cow count to 137 million in 2020. Predictions for 2021 estimated the number to surpass 138 million. This substantial growth in the global dairy cattle population has directly contributed to an increase in milking production, consequently driving the revenues within the milking machinery market. The market size for milking machines is anticipated to reflect this growth in 2023, with further expansion projected in 2024 and 2028.
Get A Free Sample Of The Global Milking Machines Market ReportGlobal Milking Machines Market Segments
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. North America was the second largest region in the global milking machines market share. The regions covered in the milking machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Milking Machines Industry Players
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
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Milking Machines Market Overview
A milking machine is a piece of equipment that consists of a suction apparatus that takes milk from the cows. They are used to extract milk from cows.
Milking Machines Global Market Report 2023 provides data on the global milking machines market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The milking machines market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.