Global Milking Robots Market is Predicted to Bounce Back After the Pandemic with a Stunning CAGR of 15.3% in the 2022-2031 Timeframe | [260-Pages] Study by Research Dive
The global milking robots market is expected to observe prominent growth by 2031, due to the lack of skilled milking labor worldwide. The hardware sub-segment is expected to be productive. The Europe region was dominant in 2021.
NEW YORK, June 2, 2023 /PRNewswire/ -- Global Milking Robots Market Forecast Analysis:
As per the report published by Research Dive, the global milking robots market is predicted to garner a revenue of $6,952.9 million and grow at a fascinating CAGR of 15.3% over the analysis timeframe from 2022 to 2031.
Segments of the Milking Robots Market
The report has divided the milking robots market into the following segments:
- System: single-stall milking system, multi-stall milking system, and rotary milking system
- Multi-Stall Milking System - Held the maximum share of the market in 2021
The multi-stall automatic milking system can serve 3-4 milking stalls and deliver a significant net return compared to other systems such as single-stall systems which are expected to bolster the growth of the market sub-segment forward. - Offering: software, hardware, and services
- Hardware – Expected to have the fastest growth by 2031
The increasing demand for automatic milking systems globally as well as the increasing production of innovative products by leading market players due to the rising advancements in milking robots are expected to propel the growth of the market sub-segment further. - Herd Size: less than 100, between 100 to 1000, and more than 1000
- Less Than 100 – Generated the highest share of the market in 2021
The growing concern for dairy management and firm management in developing countries and the rising efficiency of less than 100 herd sizes to perform milking on dairy firms is further expected to fortify the growth of the market sub-segment in the coming period. - Region: North America, Europe, Asia-Pacific, and LAMEA
- Europe - Held the biggest market share in 2021
The increasing automation in the agriculture sector, the rising demand for milk and dairy products, and the growing consumer awareness about the welfare of animals across the region are the major factors predicted to drive the regional growth of the market over the estimated period.
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Dynamics of the Global Milking Robots Market
The shortage of labor in the dairy industry, the aging of the agricultural workforce, and the stricter immigration policies affecting the supply of labor across the globe are expected to uplift the growth of the milking robots market throughout the estimated period. Besides, the increasing adoption of milking robots in developing countries is further expected to foster the growth of the market over the analysis timeframe. However, the high initial investment and lack of awareness about the installation of milking robots may hinder the growth of the market during the forecast period.
The increasing demand for milk and dairy products among consumers globally and the economic recoveries post the Covid-19 pandemic are expected to create wide growth opportunities for the market over the analysis timeframe.
Covid-19 Impact on the Global Milking Robots Market
The outbreak of the Covid-19 pandemic has devastated several industries; however, it has had a positive impact on the milking robots market. The shortage of labor and supply chain issues have increased the demand for milking robots during the pandemic period. Moreover, the resurgence of new variants of the coronavirus and social distancing issues and the increased demand for automatic milking robots to improve milk production and economic outcomes have further inclined the growth of the market over the crisis.
Key Players of the Global Milking Robots Market
The major players of the milking robots market include
- Milkomax Solutions laitières
- Fullwood Packo
- BouMatic
- Hokofarm Group
- AktivPuls GmbH
- GEA Group Aktiengesellschaft
- Waikato Milking Systems NZ LP
- DeLaval
- DAIRYMASTER
- Lely
These players are widely working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to obtain a leading position in the global industry.
For instance, in December 2021, Connecterra, an Amsterdam-based thriving technology company announced its partnership with Lely, a Dutch agricultural machine and robots manufacturer. With this partnership, the companies aimed to implement various innovative farm management systems with the integration of artificial intelligence.
What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Milking Robots Market:
- From Manual to Autonomous: How AI is Changing the Landscape of Milking Robots in Dairy Farms?
- Global Milking Robots Market to Experience Noteworthy Growth by 2031 with the Increasing Application of Robots in the Dairy Industry
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