The global grain silos and storage system market was estimated to account for a value of USD 1.3 billion in 2020 and is projected to grow at a CAGR of 4.8% from 2020 to reach a value of USD 1.6 billion by 2025. Farmers in developing and developed regions are investing in the setting up of silos, which helps facilitate the storage of grains, and with appropriate conditions, they can be stored for a longer period of time, irrespective of the external weather conditions. These are some of the factors driving the growth in the market.
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By silo type, grain bins are projected to be the fastest-growing segment in the grain silos and storage system market 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 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 up to 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.
By commodity type, maize segment is projected to dominate the market.
Maize is an important crop in various developed and developing countries. It is used as livestock feed and processed into various food and industrial products, such as starch, sweeteners, corn oil, beverage & industrial alcohol, and fuel ethanol. The major feed grains consumed in the US are corn, sorghum, barley, and oats. According to the USDA, in the US, corn is a major feed grain, accounting for more than 95% of the total feed grain production and use. It is used as a key energy ingredient in livestock feed.
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North America to be the largest market for grain silos and storage systems during the forecast period.
The on- and off-farm grain storage capacity has reached nearly 20% in the last few years, according to the US Department of Agriculture, with some of the major gains of more than 30% in North and South Dakota in North America as farmers switched to corn, which yields nearly twice as many bushels per acre than the area’s traditional wheat crop. Thus, firms such as CTB, which is a subsidiary of Warren Buffett’s Berkshire Hathaway Inc. (US), are developing advanced metal grain storage silos that are used across North America.
Key Market Players:
Some of the major players operating in the grain silos and storage system market include AGCO Corporation (US), AGI (Canada), Silos Córdoba (Spain), PRADO SILOS (Spain), Symaga (Spain), SIMEZA (Spain), Bentall Rowlands Silo Storage Ltd (UK), Mysilo (Turkey), Sukup Manufacturing Co. (US), MICHAL (Poland), Privé SA (France), Dehsetiler Makina (Turkey), MULMIX SpA Unipersonale (Italy), Polnet Sp. z o.o. (Poland), Brock Grain Systems (US), Behlen Mfg. Co. (US), SCAFCO Grain Systems Co. (US), Sioux Steel Company (US), Superior Grain Equipment (US), and Hoffmann, Inc. (US).
