Global Milking Robots Market Size Projected to Generate a Revenue of $6,952.9 Million by 2031Download Sample Reports Overview
The Global Milking Robots Market Size is predicted to be valued at $6952.9 million by 2031, surging from $1,692.2 million in 2021, at a noteworthy CAGR of 15.3%.
Impact Analysis of COVID-19 on the Milking Robots Market
The novel coronavirus outbreak significantly affected the economic and social aspects worldwide. To limit the spread of the virus various measures including social distancing, quarantine, travel bans, and lockdowns had been taken by governments worldwide. The outbreak caused unprecedented damage to trade activities and global economy and mobility. However, the demand for milking robots increased significantly during this period on account of shortage of labor and growth in the dairy sector. The dairy industry benefited greatly from advanced technologies such as milking robots. Dairy farmers have been able to overcome the difficulties caused by the outbreak because of automation in the milking process. The resurgence of the various coronavirus variants is anticipated to boost demand for milking robots since they can be used to address concerns with labor scarcity and social isolation while enhancing milk output and boosting economic outcomes.
Global Milking Robots Market Analysis
Robotic milking technology, also known as milking robots, was invented in Europe to solve labor issues on dairy farms and became available there in 1992. Robotic milking lets cows decide their milking schedule. It offers farmers more time to dedicate to farm management or other activities because the robot milks the cow. By collecting data on milk production, quality, and cow health, milking robots help farmers in better management of their herds. The shortage of skilled milking workers is one of the major factors boosting the milking robots market growth. Dairy farmers employ milking robots to enhance their milk production, improve their lifestyle, and expand their business without employing additional labor. The major elements impacting milking robots' profitability are milk production per cow, milk produced per robot per day, and labor savings. In addition, the increasing demand for dairy products across the world is also expected to drive the milking robots market growth. The rising demand for dairy products is majorly attributed to the factors such as the growing global population, increasing disposable income, urbanization, and dietary changes.
However, high initial investment along with less awareness about milking robots in developing nations may hinder the milking robots market growth during the forecast period. The demand for milking robots is high in developed regions such as Europe and North America owing to the increasing adoption of advanced technologies in the agriculture sector in these regions.
The increasing trend of automation across the globe is anticipated to offer lucrative opportunities to the milking robots market. In the last several years, the nature of operations at dairy facilities has undergone a significant change. Automation is being increasingly used by dairy producers to streamline their functions. The development has wide-ranging results because previously controlled activities are now carried out by robots. Given that new technologies are being developed significantly by major players, the popularity of milking robots is expected to rise in the upcoming years.
Global Milking Robots Market, Segmentation
The global milking robots market is segmented based on system, offering, herd size, and region.
System segment is further classified into single-stall milking system, multi-stall milking system, and rotary milking system. The rotary milking system sub-segment is expected to show the fastest growth rate during the forecast period. The advantage of this system is that it can milk more cows in a shorter amount of time in comparison to other systems. Due to this factor, the adoption of the rotary milking system is expected to rise significantly in the upcoming years. In addition, this system lets the dairy farm increase its activity with a larger herd size while assuring the quality of the milk.
The offering segment is further classified into software, hardware, and services. The hardware sub-segment is anticipated to show the fastest CAGR during the forecast period. Hardware sub-segment growth is majorly fueled by rising demand for automatic milking systems around the world as well as improvements made to milking robots by major manufacturers to provide new products. The milking robots are equipped with highly advanced hardware such as a camera paired with the latest software and other hardware that ensures smooth functioning without undue waits or limitations.
The herd size segment is further classified into less than 100, between 100 to 1,000, and more than 1,000. The between 100 to 1,000 sub-segment is anticipated to show a fastest CAGR during the forecast period. Due to the lack of skilled workforce, managing a dairy farm with a herd size of more than 100 cows is a challenging task for dairy farmers. This will lead to an increase in the use of milking robots on dairy farms with herd sizes of 100 to 1000 cows in the upcoming years.
The global milking robots market in Asia-Pacific is projected to be the fastest growing during the forecast period on account of growth in dairy sector, increasing disposable income, and robust growth in agriculture sector. In the last several years, developing countries in the Asia-pacific region have improved their share in global dairy production. Many countries in this region such as India and Japan have a long tradition of milk production. In addition, milk and its products have a crucial role in the diet of the people in this region. Owing to these factors, the demand for milk is increasing at a rapid pace in this region. This, in turn, is anticipated to augment the demand for milking robots to meet the increasing demand for milk.
Key Players in the Global Milking Robots Market
Some of the leading milking robots market players are
- GEA Group Aktiengesellschaft
- Hokofarm Group
- Fullwood Packo
- Milkomax Solutions laitières
- AktivPuls GmbH
- Waikato Milking Systems NZ LP.