Factors such as cost-effectiveness, high durability, and low workforce requirements are driving the market demand for grain silos and storage systems.
Market Size: USD 1.30 billion in 2020, Market Growth: CAGR of 5.1%, Market Trends: High initial production costs and unawareness about advantages of grain silos and storage system
The global grain silos and storage market is predicted to expand from USD 1.30 billion in 2020 to USD 1.85 billion by 2028, registering a CAGR of 5.1% during the projection time. The growing production of high-quality food grains through post-harvest management and efficient storage systems is approximated to increase the market for grain silos and storage systems.
Silos are specially designed containers used for storing products in bulk for long durations. The silos are widely used in industrial and agricultural applications. A well-maintained, air-tight silo with optimum temperature and other conditions is expected to remain unharmed for many years.
The demand for grain silos is augmenting due to the increasing requirement for storing food grains for a more extended period. Several farmers from the developed countries are investing in the market to install silos systems for storing grains. Factors such as cost-effectiveness, high durability, and low requirement of the workforce are driving the market demand for grain silos and storage systems.
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AGCO Corporation (US), Silos Córdoba (Spain), PRADO SILOS (Spain), Symaga (Spain), SIMEZA (Spain), Bentall Rowlands Silo Storage Ltd (UK), Dehºetiler Makina (Turkey), Mysilo (Turkey), Brock Grain Systems (US), Sukup Manufacturing Co. (US), Sioux Steel Company (US), MICHA£ (Poland), AGI (Canada), Privé SA (France), Behlen Mfg. Co. (US), SCAFCO Grain Systems Co. (US), Superior Grain Equipment (US), and Hoffmann, Inc. (US), and MULMIX SpA Unipersonale (Italy) are the key market players.
Further key findings:
- Based on silo types, the grain bins occupied the largest share of the grain silos and storage system market and is predicted to observe the highest CAGR during the foreseen period. The grain bins are huge containers mainly used to store corn and soybeans.
- The flat bottom silos segment is expected to observe considerable growth during the projection period. These bottom silos are cheaper in cost and easy setup processes for long-term storage.
- North America attributed to the largest market share in 2020 and is expected to dominate the market during the projection period owing to the rising awareness of precision agriculture. Moreover, the involvement of market players for developed grain silos in North America is evaluated to increase the market growth.
- The Asia Pacific region market occupied a significant market revenue in 2020 and is presumed to increase at the highest CAGR during the predicted timeframe. The growing occurrences of post-harvest losses, either due to environmental factors or due to pests and rodents, are aggregating the growth of the grain silos and storage systems.
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For this study, Reports and Data has segmented the grain silos and storage market based on commodity type, Silo Type, Form, and Region:
Based on silo type: (Revenue, USD Billion, 2021 – 2028)
- Grains bins
- Hopper silos
- Flat bottom silos
- Other silo types Bags
- Synthetic silos
Based commodity type: (Revenue, USD Billion, 2021 – 2028)
Other commodity types: (Revenue, USD Billion, 2021 – 2028)
Based on region: (Revenue, USD Billion, 2021 – 2028)
- North America
- Asia Pacific
- South America
- Rest of World (RoW)
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The research provides answers to the following key questions:
- What will be the market size and growth rate of the Grain Silos and Storage System market for the forecast period 2021 -2028 across different regions?
- What are the key driving forces expected to shape the future of the industry worldwide?
- What strategies are the prominent vendors adapting to stay ahead of their competitors?
- Which major trends are impacting the development of the Grain Silos and Storage System Market Worldwide?
- Which factors can hinder, challenge or even restrict the expansion of the Grain Silos and Storage System market worldwide?
- What are the opportunities or future prospect for the business owners operating in the market for the forecast period, 2021 – 2028?
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