Grain Storage Silos Market Size, Share, Opportunities, And Trends By Type (Steel Silos, Metal Silos, Other Types), By Product (Flat Bottom Silos, Hopper Bottom Silos, Feed Hoppers, Farm Silos), By Commodity (Rice, Maize, Wheat, Soybean, Sunflower, Others), And By Geography - Forecasts From 2023 To 2028

The grain storage silos market was valued at US$1.358 billion in 2021 and is expected to grow at a CAGR of 4.5% during the forecast period.

The grain storage silos market is anticipated to rise at a steady pace during the projected period. Silos are a long-term, cost-effective storage option that takes up less space on the ground when land is limited and storage prices are high. The grain storage silos market is a significant area of the grain storage silos sector, which, when necessary, increases the supply of agricultural production.

Growth drivers for the grain storage silos market

Agricultural production is rising globally due to growing populations, Despite rising output, one of the major issues stemming from grain losses is self-sufficiency. The lack of adequate storage facilities causes this grain loss, which lowers the price and reduces the producers' income. The global grain storage silos market for grain silos benefits from the requirement for suitable post-harvest storage facilities. Therefore, shifting grain prices and an increase in demand for large-capacity storage are key factors in the grain storage silos market.

Rising demand for large-capacity storage

The grain storage silos industry has been pushed over the research period by the rising demand for grain storage from the top grain-producing nations in the globe, including the United States, Russia, India, Brazil, and others. The need for silos increased across all areas as a result of growing input costs and significant investments needed for grain storage. The worldwide wheat stock climbed from 276 million metric tonnes in 2020 to 278.0 million tonnes in 2021, according to the International Grains Council (IGC). The grain storage silos market grew throughout the anticipated period as a result of the rise in grain output.

Increasing high-quality grain output

The grain silos and storage industry systems will experience revenue growth as a result of the increased production of high-quality grain using effective post-harvest and storage systems. The grain silos storage market's growth will be accelerated by the spike in demand for storage with a high capacity and low cost. The key market factors that will continue to boost the growth rate include rapid urbanization and rising levels of disposable income among individuals. Additionally, rising post-harvest losses and food waste will encourage the sale of grain silos, boosting the demand for grain silos and storage systems. The grain silos and storage industry systems will develop at a faster rate as a result of other variables, such as the rise in applications from emerging nations.

Increasing awareness regarding efficient post-harvest management

The grain storage silos market is growing as a result of the rising demand for grain silos and storage facilities due to the necessity of effective post-harvest management due to their high capacity and minimal manpower needs, these storages have a cheap operating cost, which is encouraging small farmers to adopt them widely and support grain storage silos industry growth. Additionally, the growing accessibility of cutting-edge systems that offer total defense against environmental hazards while preventing pathogen invasion is anticipated to open up profitable growth prospects for the grain storage silos market growth throughout the forecast period.

Wide storage capacity to propel the market

The grain storage silos market is expanding strongly as a result of the several advantages grain silos and storage systems provide, including cheap operating costs, a labour-intensive necessity, and effective fumigation operations. Less spillage and wastage are provided by grain silos and storage systems, which is propelling industry expansion. The large storage capacity of grain silos and storage systems of up to 25,000 to 50,000 tonnes is stoking their demand, which is boosting the market expansion. Additionally, farmers are spending more money on grain silos and storage systems to effectively store grains in ideal conditions, regardless of the weather outside, which is anticipated to propel grain storage silos market growth.

Rapid advancements and developments to drive market

Silos' features and technology are developing quickly, which is fueling the grain storage silos market growth. There are several benefits to utilizing grain silos instead of warehouses to store grains, especially in terms of how much room is saved. To meet the demands of farmers, the side may be made to match the available land space and is available in both vertical and horizontal configurations. By managing the temperature, it is simpler to maintain the ideal storage conditions for grains, which, if done incorrectly in long-term storage facilities, can lead to financial losses.

North America is anticipated to dominate the grain storage silos market

According to the United States Department of Agriculture (USDA), The on-farm storage expanded by 1.6 billion bushels and the off-farm storage by 2.2 billion bushels during the past ten years, respectively, representing growth rates of 14% and 24%. Due to the fact that they may be utilized for long-term storage, producers in the nation tend to favour flat-bottom or hopper-bottom silos. It expanded the flat-bottom or hopper-bottom grain storage silos market in the United States.

Regarding the total amount, the period of the harvest, and the place of production, corn, soybeans, wheat, and other crops have different storage methods. Grain inventories are dominated by maize nationally.

Key manufacturers are focusing on product innovation

The grain storage silos market is fairly fragmented, includes several active competitors, and is also seeing the birth of several new entrepreneurs. The silos themselves have undergone modifications. Currently, silos are constructed from steel, metal, or other materials. Silos can be custom-made and constructed based on the value and type of grain that will be kept in them. Additionally, silo designs that are affordable and assist the storage facility make the most use of available space may be made with the use of optimization techniques. These elements will assist increase yield in the region where the silo is built, which will increase revenue for storage providers.

Market Key Developments

• In March 2022, The American company SCAFCO Grain Systems Co. was purchased by Sioux Steel Co. SCAFCO provides a variety of grain bins, structures, handling tools, drying technologies, and accessories and has installations in more than 80 nations. Sioux Steel's ability to ship goods to consumers throughout the world will thus be quickly increased by purchasing SCAFCO products, equipment, and plants.
• In March 2022, The Silos Cordoba firm finished erecting a new corn storage facility in Romania. The facility has a total capacity of 15,116 m3, 43,779 m3 flat bottom silos with lateral discharge, catwalks, and supports, as well as thermometry, ventilation, cleaning, drying, and automation systems.

Grain Storage Silos Market Scope:

Segmentation:

• By Type
  • Steel Silos
  • Metal Silos
  • Other Types
• By Product
  • Flat Bottom Silos
  • Hopper Bottom Silos
  • Feed Hoppers
  • Farm Silos
• By Commodity
  • Rice
  • Maize
  • Wheat
  • Soybean
  • Sunflower
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others