Global Grain Silos and Storage System Market Report and Forecast 2024-2032

Global Grain Silos and Storage System Market Outlook

The global grain silos and storage system market attained a value of about USD 1.46 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.70% to reach nearly USD 2.20 billion by 2032.

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Rising Use of Grain Silos and Storage Systems in Large-Scale Farming Activities Bolstering the Market Growth

The increasing use of grain silos and storage systems in the agricultural industry, especially in large-scale farming activities, is driving the market growth. With the rising cost-effectiveness of the system, their adoption among farmers is significantly increasing, which is propelling the market growth. As the requirement for effectively storing grains to combat food shortages and global hunger is increasing, grain silos and storage systems are increasingly deployed to store crops while minimising wastage. This, in turn, is propelling the growth of the market.

The increasing awareness regarding the importance of efficient post-harvest management is surging the demand for grain silos and storage systems, which is aiding the market growth. As these storages have a low running cost due to large quantities and low labour requirements, they are extensively adopted by small farmers, which is augmenting the industry growth. Additionally, the rising availability of innovative systems that offer complete protection against natural elements while eliminating pathogen invasion is expected to provide lucrative growth opportunities to the market growth in the forecast period.

Grain Silos and Storage System: Market Segmentation

Grain silos and storage systems refer to systems that are used for bulk storage of grains. They are typically deployed to protect and store the grains from external environmental factors. They are more cost-effective method of crop storage than warehousing and is extensively used by farmers. Moreover, they offer minimal wastage while enhancing the durability of grains.

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Based on silos type, market is categorised into:

• Flat Bottom Silos
• Hopper Bottom Silos
• Feed Hoppers
• Farm Silos
• Others

The market can be broadly categorised on the basis of its commodity type into:

• Rice
• Wheat
• Maize
• Soyabean
• Sunflower
• Others

The EMR report looks into the regional markets of grain silos and storage systems like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Favourable Properties of Grain Silos and Storage Systems to Aid the Market Growth

As grain silos and storage systems offer various benefits such as low running costs, less labour requirement, and efficient fumigation operation, the market is witnessing robust growth. Grain silos and storage systems offer less wastage and spillage, which is driving the industry growth. The wide storage capacity of up to 25,000 to 50,000 tonnes of grain silos and storage systems is surging their demand, which is augmenting the market growth. Further, farmers are increasingly investing in grain silos and storage systems to efficiently store grains in optimal conditions, irrespective of the external weather conditions, which is projected to provide impetus to the growth of the market in the forecast period.

With the growing demand for packaging and storing crops, the use of grain silos and storage systems owing to their high-capacity commercial structures and permanent grain storage offering, the market is anticipated to grow robustly. The rising investments by the key players of the market are further estimated to fuel the market expansion of grain silos and storage systems. Moreover, the manufacturing of innovative and advanced grain silos and storage systems with enhanced operation and performances are anticipated to propel the market growth in the forecast period.

Key Industry Players in the Global Grain Silos and Storage System Market

The report presents a detailed analysis of the following key players in the global grain silos and storage system market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• AGCO Corporation.
• Silos Córdoba
• Bentall Rowlands Silo Storage Ltd
• Symaga SA
• Sioux Steel Company
• SCAFCO Grain Systems Co.
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report