The grain storage silos global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Grain Storage Silos Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The grain storage silos market size has grown steadily in recent years. It will grow from $1.51 billion in 2023 to $1.58 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to expansion of the animal feed industry, shift towards sustainable farming practices, global supply chain efficiency, increasing export activities, growing awareness of food waste.
The grain storage silos market size is expected to see strong growth in the next few years. It will grow to $1.92 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to rising global demand for grains, increasing agricultural production, government initiatives and subsidies, growth in agribusiness investments, rising food security concerns. Major trends in the forecast period include technological advancements in storage solutions, adoption of smart silos, adoption of vertical storage systems, advances in grain drying technology, improved silo management software.
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Scope Of Grain Storage Silos Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Grain Storage Silos Market Overview
Market Drivers –
The increasing agricultural productivity is expected to propel the growth of the grain storage silos market. Agricultural productivity is rising due to advancements in technology, improved farming practices, and the adoption of high-yield crop varieties. Grain storage silos enhance agricultural productivity by allowing for the efficient storage of harvested grains, reducing spoilage and waste, and enabling better management of supply and demand throughout the year. For instance, in February 2024, according to a report published by the Department for Environment, Food and Rural Affairs, a UK-based ministerial department, agriculture contributed $15.3 billion (£13.9 billion), or 0.6% of GDP, to the UK economy in gross value added (GVA) at basic prices in 2022. This marked a $1.98 billion (£1.8 billion) increase, representing a 15% rise from 2021. Additionally, total income from farming (TIFF) in the UK grew by $1.2 billion (£1.1 billion), or 17%, reaching $8.6 billion (£7.9 billion) in 2022. Therefore, increasing agricultural productivity is driving the grain storage silos market.
Market Trends –
Major companies operating in the grain storage silos market are focused on developing technologically advanced solutions, such as grain monitoring solutions, to provide real-time data on critical parameters. A grain monitoring solution is a system designed to track and manage key parameters such as temperature, moisture, and inventory levels within grain storage facilities to ensure optimal quality and prevent spoilage. For instance, in April 2024, Embratel, a Brazil-based digital solutions company, launched Smart Silo, a cutting-edge solution for monitoring grain storage, incorporating Internet of Things (IoT) technology, big data, and artificial intelligence (AI) to optimize environmental conditions and guarantee the quality of stored grains. It delivers real-time data on critical indicators such as temperature, humidity, and CO2 concentration, empowering producers to make informed decisions and prevent losses due to spoilage or gas emissions. The Smart Silo simplifies operations and enhances safety by automating measurements that were previously done manually, thereby revolutionizing grain management in agribusiness.
The grain storage silos market covered in this report is segmented –
1) By Product Type: Flat Bottom Silos, Hopper Silos, Grains Bins, Other Product Types
2) By Capacity: Below 50 Tons, 50-300 Tons, 301-1000 Tons, Above 1000 Tons
3) By Application: Farm, Large Ports, Food Industry, Other Applications
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Regional Insights –
North America was the largest region in the grain storage silos market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the grain storage silos market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the grain storage silos market are Ag Growth International Inc., Behlen Manufacturing Co., Sukup Manufacturing Co., Mysilo, Chief Industries, Ahrens Group Pty Ltd., Sioux Steel Company, Roxell, Agrosaw, Symaga, Alvan Blanch Development Co., Rostfrei Steels Co., Tornum AB, Silos Cordoba Co., Superior Grain Equipment, ABC Hansen Africa Ltd., Buschhoff, Kotzur Pty Ltd., Moylan Grain Silos, Mulmix Spa, Nelson Silos, Prado Silos, RIELA, SIMEZA Silos, Stolz Engineering Pte Ltd.
Table of Contents
1. Executive Summary
2. Grain Storage Silos Market Report Structure
3. Grain Storage Silos Market Trends And Strategies
4. Grain Storage Silos Market – Macro Economic Scenario
5. Grain Storage Silos Market Size And Growth
…..
27. Grain Storage Silos Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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