Overview and Scope
Grain silos and storage systems refer to structures designed to store grain and other material in bulk or powder such as cement, calcium oxide, calcium hydroxide, activated carbon or plastic resins and others. These are used by agriculture industries to store bulk grain.
Sizing and Forecast
The grain silos and storage system market size has grown strongly in recent years. It will grow from $1.61 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to population growth and food demand, modernization of agriculture practices, government initiatives for food security, increased global trade of grains, climate change concerns, expansion of agribusiness.
The grain silos and storage system market size is expected to see strong growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to urbanization and land use changes, renewable energy integration, global efforts for sustainable agriculture, resilience to climate change impacts, rise in vertical farming practices. Major trends in the forecast period include adoption of iot and sensor technologies, aeration systems for grain quality, automation and digitization in silo operations, grain management software, customization for specialty grains, energy-efficient storage solutions.
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Segmentation & Regional Insights
The grain silos and storage system market covered in this report is segmented –
1) By Silo Type: Flat Bottom Silos, Hopper Silos, Grain Bins, Other Silo Types
2) By Commodity Type: Rice, Maize, Wheat, Soybean, Sunflower, Other Commodity Types
3) By Product Type: Steel Silos, Metal Silos
4) By Applications: Agriculture, Commerce
North America was the largest region in the grain silos and storage system market in 2023. The regions covered in the grain silos and storage system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increased consumption of crops is expected to propel the growth of grain silos and the storage system market going forward. A crop is a plant that is cultivated or grown on a large scale, such as a grain, vegetable, or fruit grown in large amounts on a farm. The consumption of crops is increasing as there is rapid growth in population. The increase in consumption of crops leads to an increase in the production and storage of grains resulting in an increase in the grain silos and storage system market. For instance, in April 2023 according to the report published by Food and Agriculture Organization, a Canada-based international organization that leads international efforts to defeat hunger and improve nutrition and food security, global wheat utilization increased from around 762 million tons in 2020/2021 to around 773 million tons in 2021/2022. It is anticipated that it increases to 780 million tons in 2022/2023. Therefore, the increase in the consumption of crops is driving the growth of the grain silos and storage system market.
Key Industry Players
Major companies operating in the grain silos and storage system market report are AGCO Corporation, Behlen Mfg. Co., Polent SP Zoo, Prado Silos, SCAFCO Grain Systems Co., Sioux Steel Company, Bentall Rowlands Silo Storage Ltd., Brock Grain Systems Inc., Dehsetiler Makina, Hoffmann Inc., Mulmix Srl, Ag Growth International Inc., Buhler Holding AG, Wieser Concrete Products Inc., Arsenal Steel Silos Machinery Pvt. Ltd., CTB Inc., GrainPro Inc., Grain Systems Inc., Henan Sron Silo Engineering Co., Rostfrei Steels Pvt. Ltd., Silos Metálicos Zaragoza S.L.U., Skess Corporation, Steel Structures America Inc., Steffes Group Inc., Stiffened Grain Bins, Sukup Manufacturing Co., Superior Grain Equipment, U.S. Grain Storage Systems Inc.
The grain silos and storage system market report table of contents includes:
1. Executive Summary
2. Grain Silos and Storage Market Characteristics
3. Grain Silos and Storage Market Trends And Strategies
4. Grain Silos and Storage Market – Macro Economic Scenario
5. Global Grain Silos and Storage Market Size and Growth
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31. Global Grain Silos and Storage Market Competitive Benchmarking
32. Global Grain Silos and Storage Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Grain Silos and Storage Market
34. Grain Silos and Storage Market Future Outlook and Potential Analysis
35. Appendix
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