Grain Silos and Storage System - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Grain Silos and Storage System Market is accounted for $1.22 billion in 2019 and is expected to reach $2.07 billion by 2027 growing at a CAGR of 6.9% during the forecast period. Some of the key factors propelling the market growth include increasing food wastage and post-harvest loss will raise the sale of grain silos, rising number of applications from emerging economies, increasing demand of large capacity as well as cost effective grain storage, and rising number of initiatives taken by government. However, high initial investments in equipment and its set up affect their demand across developing countries across regions may hamper the market growth.
Silos are utilized in agriculture sector to store different types of grains such as rice, wheat, maize, barley, and others. Grain silos play a crucial role in packaging and storing produce, as they are high-capacity commercial structures that are used for permanent grain storage. Thus, farmers from the North American and European regions are investing in setting-up of silos. This increasingly facilitates the storage of grains, and with appropriate conditions, they can be stored for a longer period of time, irrespective of the external weather conditions.
By silo type, the grain bins segment is anticipated to witness significant growth during the forecast period. The grain bins are constructed as vented, silver, and corrugated steel-structured containers that have a larger diameter than silos, which are offered in various heights. These types of grain bins are generally used for the storage of dry corn and soybeans, which meet the domestic or export demands for the use of feed, food, and fuel. They are also used for the storage of free-flowing grains or other non-corrosive granular materials upto 52 lb/ft3 (833 kg/m3). Grain bins have a storage capacity that ranges between 1,000 and over a million bushels of grains per structure. They are developed for aerating grains at cooler temperatures for safer and longer period of storage.
On the basis of geography, Asia Pacific region is expected to have considerable market growth during the forecast period, due to the presence of densely populated countries, such as China and India. The region’s increasing population and rising income levels are factors that are projected to drive the demand for food and agricultural commodities in the coming years. On the other hand, the region has limited arable land, inadequate water, low farm yields, and increased soil degradation conditions due to urbanization. China and India are ranked first and second, in terms of rice and wheat production, at the global level.
Some of the key players in Grain Silos and Storage System Market include Bentall ROWlands Silo Storage Ltd., Mysilo, Sukup Manufacturing Co., Hoffmann, Inc., AGCO Corporation, Silos Cordoba, Polnet Sp. Z O.O., Brock Grain Systems, Behlen Mfg. Co., Sioux Steel Company, Superior Grain Equipment, Scafco Grain Systems Co., Prado Silos, Mulmix Spa Unipersonale, and Simeza.
Commodity Types Covered:
• Other Commodity Types
Silo Types Covered:
• Hopper Silos
• Flat Bottom Silos
• Grain Bins
• Other Silo Types
• Metal Silos
• Steel Silos
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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