How Has the Grain Silos and Storage System Market Evolved Historically and What is its Current Size?
The grain silos and storage system market has seen considerable growth due to a variety of factors.
•The market size for grain silos and storage systems has seen a robust expansion in the previous years. The projected growth will rise from $1.69 billion in 2024 to $1.79 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.0%.
Factors like population expansion and growing demand for food, the revolution in agricultural procedures, government actions towards food security, the rise in worldwide grain trade, apprehensions about climate change, and the growth of agribusiness are credited for the growth during the historical period.
What is the Forecasted Market Size and CAGR for the Grain Silos and Storage System Market?
The grain silos and storage system market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated robust growth in the grain silos and storage system market size is foreseen in the upcoming years, reaching "$2.31 billion by 2029 with a compound annual growth rate (CAGR) of 6.6%.
The expansion forecasted for this period can be credited to factors like urbanization, alterations in land use, the integration of renewable energy, global initiatives for sustainable farming, resilience to impacts of climate change, and the increase in vertical farming methods. Predominant trends in the projection period also involve the utilization of Internet of Things (IoT) and sensor technologies, aeration systems for maintaining grain quality, the automation and digitalization of silo operations, grain management software, customization provisions for speciality grains, and energy-saving storage solutions.
What Are The Key Drivers Fueling Growth In The Grain Silos and Storage System Market?
The growth of the grain silos and storage system market is anticipated to be driven by the increased consumption of crops. Cultivated in large quantities, crops such as grains, vegetables or fruits, see their demand rising in tandem with population growth. This naturally leads to an uptick in the production and storage of grains, fuelling the expansion of the grain silos and storage system market. A report published by the Food and Agriculture Organization, a Canada-based international body that spearheads global efforts to eradicate hunger and promote better nutrition and food security, revealed in April 2023 that global consumption of wheat rose from around 762 million tons in 2021 to about 773 million tons in 2022. This figure is expected to escalate to 780 million tons in 2023. Consequently, the surging consumption of crops is a key driving force behind the growth of the grain silos and storage system market.
What Are The Principal Market Segments In The Global Grain Silos and Storage System Industry?
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
Subsegments:
1) By Flat Bottom Silos: Large Capacity Flat Bottom Silos, Medium Capacity Flat Bottom Silos, Small Capacity Flat Bottom Silos
2) By Hopper Silos: Cone Bottom Hopper Silos, Pyramid Bottom Hopper Silos, Other Specialty Hopper Silos
3) By Grain Bins: Bolted Steel Grain Bins, Welded Steel Grain Bins, Bins For Specific Crop Types
4) By Other Silo Types: Concrete Silos, Wooden Silos, Fabric Silos, Portable Silos
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Which Emerging Market Trends Are Altering The Grain Silos and Storage System Sector?
Top tier companies deeply rooted in the grain silos and storage system markets are integrating state-of-the-art technologies such as grain handling robots to bolster their market profit margins. Grain handling robots are sophisticated robotic machinery built to automate a multitude of tasks in agriculture and food sectors, including aid in grain storage, grain bin management, optimization of storage conditions, and inventory level monitoring. For example, in April 2023, Crover, an agri-tech company from Scotland, revealed a cutting-edge robot built to navigate through large quantities of crops, thus guaranteeing grain storage under prime condition. This forward-thinking technology, equipped with moisture and temperature sensors and a unique T-shaped design, is geared towards helping grain aggregators and farmers keep an eye on and maintain the quality of stored crops, such as barley and wheat. As the robot navigates through the grain, it gathers crucial data on crop conditions and transfers the analysed results to a user-friendly interface, providing real-time data to grain aggregators. This cutting-edge development could redefine grain storage and administration, presenting possibilities of waste reduction and crop yield enhancement.
Who Are the Key Players in the Grain Silos and Storage System Market?
Major companies operating in the grain silos and storage system market include:
• 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.
What are the Regional Insights into the Grain Silos and Storage System Market?
North America was the largest region in the grain silos and storage system market in 2024. 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
