The global grain silos and storage system market accounted for a value of USD 1.8 billion in 2019. The grain silos and storage system market is estimated to grow at a CAGR of 4.2% during the forecast period.
COVID-19 has impacted grain silos and storage system to some extent but the effect is not significant on the global market. The supply chain and operation was impacted but the impact was short lived. The grain silos and storage systems operation was not on halt for longer time during the lockdown period.
For more details, visit: Global Grain Silos and Storage System Market By Silos Type (Grain Silo, Hopper Silo, Flat Bottom Silo, Others), By Commodity (Rice, Maize, Sunflower, Soybean, Wheat, Others), By Region–Forecast & Opportunities to 2026
The key market players in grain silos and storage system are focusing on producing high quality products as the demands for such products are increasing rapidly around the world. The farmers in developed regions are using grain silos and storage systems at larger scale because farmers in such regions are cultivating large-scale farmlands. They also store crops at high quantities for longer period of time. This is driving growth in grain silos and storage market during forecast period.
On the basis of silo type, the grain silo and storage market is segmented into grain silo, hopper silo, flat bottom silo and other silo. The grain silo segment is estimated to register growth at highest CAGR during the forecast period. The grain bins are designed as corrugated, silver and vented steel structured containers consisting of a diameter larger than silos. These are used for storing various crops such as soybeans and dry corn etc. They can also be used for storing free-flowing grains and other non-corrosive granular materials up to 833 kg/m3. Thus the use of grain bins is increasing which drives growth in grain silos segment.
On the basis of commodity, the grain silo and storage systems market is segmented into rice, maize, sunflower, soybean, wheat and others. The maize segment is estimated to register growth at highest CAGR during the forecast period. Maize is used as livestock feed. Maize can be processed into various products like sweeteners, beverage & industrial alcohol, corn oil and starch etc. In livestock feed maize is used as an energy ingredient. The rise in demand and consumption of maize has lead to growth in this segment.
North-America region is estimated to register growth at highest CAGR during the forecast period. The demand for silos and storage systems are increasing in this region rapidly. The farmers are switching to corn production in large numbers who previously growing wheat crops. Thus it requires advanced metal grain storage silos to store the crops. This is attributing growth in North-America region during forecast period.
The key market players in grain silos and storage systems are Silo Cordoba, AGI, AGCO Corporation, PRADO Silos, SIMEZA, Bentall Rowlands silo Storage, Mysilo, Symaga, MulMIX Spa Unipersonale, Dehsetiler Makina, Prive SA, MICHAL, Sukup Manufacturing Co., Polnet Sp, Brock Grain Systems and Hoffmann Inc.
- What are the expected industry trends over the next three to five years?
- Which of the grain silos and storage system type is likely to lead by 2025?
- Which of the commodity segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?