The increasing demand for high-quality grain production and well-developed post-harvest and storage systems is assessed to augment the growth of the grain silos and storage system market.
Market Size: USD 1.30 billion in 2020, Market Growth: CAGR of 5.1%, Market Trends: Advances and development in the agricultural sector for grain silos and storage systems.
The global grain silos and storage market is foretold to upsurge from USD 1.30 billion in 2020 to USD 1.85 billion by 2028, with a CAGR of 5.1% during the estimated time. The increasing industry demand for grain silos is driven by factors such as cost-effectiveness, high durability, and low labor requirement for maintaining grain silos.
Silo are containers that are used to store bulk materials for longer durations under optimum conditions. A well-sustained and air-sealed silo is predicted to last for many years.
These silos find its application in the industrial and agricultural industries. Grains, various food products, and sawdust are stored in such containers. The food grains remain safe from external weather calamities under the maintained conditions. Grain silos require less land for setting up in comparison to warehouses.
The silos are well-equipped and require minimum labor due to advanced technological facilities. India, Mexico, China, Germany, and the United States are focusing on maintaining the quality of the grains for exports, thus the requirement of high-quality storage such as grain silos is escalating.
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The increasing food wastage and post-harvest damages are surging the requirement for grain silo and storage systems. The advanced technology in agriculture and the improved silos and storage systems are contributing to the growth of the market.
Additionally, investments by market players and government initiatives to promote the benefits of grain silos are expected to increase the market demand.
However, the lack of cognizance of benefits associated with grain silos and the initial investment prices that are unaffordable for many farmers are the key constraints of the grain silos and storage system market. The safety risks associated with sealed silos, such as seal leaks, can lead to lung damage due to exposure to carbon dioxide and nitrogen. Also, as the silos are huge in size, the chances of falling can cause severe injuries to the workforces.
Key market players: Silos Córdoba (Spain), AGCO Corporation (US), Dehºetiler Makina (Turkey), PRADO SILOS (Spain), Symaga (Spain), SIMEZA (Spain), Bentall Rowlands Silo Storage Ltd (UK), Mysilo (Turkey), Sukup Manufacturing Co. (US), Sioux Steel Company (US), MICHA£ (Poland), AGI (Canada), Privé SA (France), Brock Grain Systems (US), Behlen Mfg. Co. (US), SCAFCO Grain Systems Co. (US), Superior Grain Equipment (US), and Hoffmann, Inc. (US), and MULMIX SpA Unipersonale (Italy).
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)
Further key findings:
- On the basis of silo type, the grain bins section is predicted to observe the highest growth during the projection timeframe. These bins are large and have a diameter more extensive than the silos, accessible in various sizes. The crops stored in these grain bins are soybeans and dry corn.
- In context to the commodity segment, the soybean section is expected to grow at the fastest pace from 2021 to 2028. Soybeans are used in various food and agricultural application such as livestock feed and oils. Oil-based paints and soaps contain some amount of soybean oil.
- The maize section is approximated to dominate the market due to the extensive deployment of maize in various food and industrial products.
- North America dominated the grain silos and storage system market in 2020 due to the advanced technologies, investments of key market players, and high awareness of precision farming.
- The Asia Pacific region generated a considerable market revenue in 2020 and is expected to witness the fastest growth during the estimated time. India and China are the key contributors responsible for generating high revenue in this region. The rising population in the APAC region has increased the demand for food and agricultural supplies, which has augmented the growth of grain silos and the storage systems market.
Table Of content:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
Chapter 2. Executive Summary
2.1. Market Outlook
Chapter 3. Drip Irrigation Market Variables, Trends & Scope
3.1. Market Introduction
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
Chapter 9. Company Profiles
9.1. AGCO Corporation (US)
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. Symaga (Spain)
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Strategic Initiatives
9.3. Superior Grain Equipment (US)
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Strategic Initiatives
9.4. MULMIX SpA Unipersonale (Italy)
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Strategic Initiatives
9.5. Grain Systems Co. (US)
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Strategic Initiatives
9.7. Silos Córdoba (Spain)
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
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