Grain Storage Silos Market - Forecasts from 2024 to 2029

Grain Storage Silos Market is expected to grow at a CAGR of 4.71% from US$1.429 billion in 2022 to US$1.973 billion in 2029.

Silos offer a long-term and cost-effective storage solution, particularly beneficial in situations where land is limited and storage costs are high. This market segment plays a significant role in the overall grain storage industry, helping to bolster agricultural production by providing necessary storage infrastructure.

Global agricultural production is on the rise due to increasing populations. However, despite this growth, one of the primary challenges faced is grain losses, affecting self-sufficiency. Inadequate storage facilities contribute to these losses, leading to lower prices and reduced income for producers. The global grain storage silos market benefits from the demand for suitable post-harvest storage facilities, driven by fluctuating grain prices and the need for larger storage capacities.

During the research period, the grain storage silos industry experienced growth propelled by increasing demand from top grain-producing nations such as the United States, Russia, India, and Brazil, among others. Rising input costs and substantial investments required for grain storage further drove the need for silos across all regions. The market for grain storage silos continued to expand throughout the forecasted period, fueled by the increase in grain output.

Market Drivers

• Increasing high-quality grain output is expected to drive market growth-

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.

Restraint-

• High maintenance and cost-

Building grain storage silos necessitates a considerable initial capital outlay, covering the silo infrastructure, ventilation setups, temperature regulation mechanisms, and essential machinery. This financial commitment poses a notable obstacle, particularly for small-scale farmers constrained by limited financial means.

The upkeep and operation of silos entail continual expenditures on electricity, maintenance, and staffing. Moreover, maintaining optimal grain quality within the silos demands consistent monitoring and implementation of pest management strategies, thereby increasing operational expenses.

Grain storage silos market segmentation by type into steel silos, metal silos, and other types-

The segmentation of the grain storage silos market by type includes steel silos, metal silos, and other types. Steel silos, known for their superior strength and resistance to adverse weather conditions, are favored for long-term storage due to their durability.

Metal silos, on the other hand, are typically more budget-friendly compared to steel alternatives, appealing to farmers seeking cost-effective storage solutions. The category of other types includes concrete silos, wooden silos, and plastic silos.

North America is anticipated to hold a significant share of the Grain storage silos market.

North America's significance in the grain storage silos market can be attributed to several key factors. The region's robust agricultural production, particularly in the United States and Canada, demands efficient grain storage facilities.

Technological advancements in grain storage and management, coupled with the availability of substantial investments and favorable economic conditions, have further solidified its position. North America's high demand for grains, driven by a growing population, livestock farming, and international exports, necessitates extensive storage infrastructure.

Moreover, government policies and subsidies historically support the agricultural sector, encouraging investments in grain storage.

Market Developments

• September 2023- Agritech startup Ergos raised $10 million through a combination of equity and debt in its Series B funding round. The funding round was spearheaded by Norway-based Abler Nordic. Furthermore, the agritech startup connected farmers to potential buyers, offered secure warehouse storage for grains and facilitated affordable financial solutions through partnerships with lenders.
• May 2023- To address the food grain storage capacity shortage in the country, the government sanctioned the "World's Largest Grain Storage Plan in the Cooperative Sector." This initiative is currently being implemented as a Pilot Project across different states and Union Territories. The plan involves establishing various agricultural including the establishment of decentralized warehouses, custom hiring centers, processing units, fair price shops, and more.
• 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.

Company Products

• ROSTFREI(TM)- metal silos- PThe metal Silos provided by the company are crafted to meet global standards and specifications for the extended storage of diverse grains, cereals, and other materials like coffee beans and cotton, ensuring their unadulterated quality. The company offers comprehensive grain storage systems comprising grain storage silos, handling equipment, monitoring systems, aeration systems, and automation systems.
• Farm grain storage bins- The farm grain storage bins offered by Superior Grain Equipment are engineered to endure extreme weather conditions, withstanding wind gusts of up to 90 miles per hour, and roof snow loads of up to 40 pounds per square foot. These bins come in a range of capacities, from 1,836 to over 62,000 bushels for unstiffened bins, and up to 186,194 bushels for stiffened bins. Interested parties can request a quote directly from the company's website.
• 64 lb/bushel Bins- Sioux Steel Farm Bins's grain storage solutions allow for the storage of grains up to 64 lb/bushel, surpassing the industry standard of 60 lb/bushel. Additionally, their bins feature roof peak load ratings of up to 10,000 lbs and are specifically designed to accommodate free-flowing grains weighing up to 51 lbs/ft3 (55 lbs/ft3 with compaction). Notably, they are distinguished as the sole bins in the industry engineered to handle grains weighing up to 64 lb/bushel, offering superior capacity and performance compared to the standard.

Market 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
• USA
• 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