Grain Elevator and Storage Systems Market Size, Revenue, Trends, Competitive Landscape Study and Analysis, Forecast to 2028
Factors such as profitability, high durability and low labor requirements are driving the market demand for grain silos and storage systems.
NEW YORK, NY, USA, October 12, 2021 /EINPresswire.com/ – The global grain silo and storage market is expected to grow from $ 1.30 billion in 2020 to $ 1.85 billion by 2028, registering a CAGR of 5.1% during the screening time. Increasing production of high quality food grains through post harvest management and efficient storage systems is approached to increase the market for grain silos and storage systems.
Silos are containers specially designed for the storage of bulk products for long periods of time. Silos are widely used in industrial and agricultural applications. A well-maintained airtight silo with optimum temperature and other conditions should remain unharmed for many years.
The demand for grain elevators is increasing due to the increasing need to store food grains for a longer period. Several farmers in developed countries are investing in the market to install silo systems for grain storage. Factors such as profitability, high durability and low labor requirements are driving the market demand for grain silos and storage systems.
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The high rate of food waste and post-harvest losses is attributable to the growing market for grain silos and storage systems.
These silos are preferred over warehouses because they offer better storage, require better floor space and low assembly costs. Optimal conditions protect seeds and grains from outdoor weather conditions, pests and rodents.
Technological advancements in agriculture and high requirements for quality storage are expected to boost the market for grain silos and storage systems. In addition, the main market players invest in product R&D and propose merger strategies and collaborations to keep their footprint on the market.
The coronavirus pandemic has hurt the global market demand for grain elevators and storage systems. Due to lack of manpower and disruption in the supply chain, many factories were closed during the first days of the lockdown.
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The growth of the global agricultural industry is mainly attributed to the huge increase in the world population, the growing demand for food and the rapid increase in agricultural activities to meet the growing consumer demand. Emerging trends in the agricultural sector, including organic and vertical farming techniques, increasing use of advanced agricultural equipment, rapid adoption of precision agriculture, and rapid integration of advanced technologies such as AI, robotics, and Internet of Things (IoT) in farming methods have drastically driven the revenue growth of the market. The increase in research and development activities around the world for smart and advanced agricultural solutions is expected to create more lucrative growth opportunities for the global agricultural industry.
Other key findings:
â¢ On the basis of silo types, grain elevators occupied the largest share of the grain elevators and storage systems market and are expected to observe the highest CAGR during the forecast period. Grain silos are huge containers primarily used to store corn and soybeans.
â¢ The flat bottom elevator segment is expected to experience significant growth over the projection period. These lower silos are cheaper in terms of cost and easy installation process for long term storage.
â¢ North America is attributed the largest market share in 2020 and is expected to dominate the market during the projection period due to the growing awareness of precision agriculture. Moreover, the involvement of the developed grain silo market players in North America is assessed to increase the market growth.
â¢ The Asia-Pacific region market occupied a significant turnover in 2020 and is expected to grow at the highest CAGR during the forecast period. The increasing occurrences of post-harvest losses, either due to environmental factors or to pests and rodents, aggravate the growth of grain silos and storage systems.
AGCO Corporation (United States), Silos CÃ³rdoba (Spain), PRADO SILOS (Spain), Symaga (Spain), SIMEZA (Spain), Bentall Rowlands Silo Storage Ltd (United Kingdom), DehÂºetiler Makina (Turkey), Mysilo (Turkey ), Brock Grain Systems (United States), Sukup Manufacturing Co. (United States), Sioux Steel Company (United States), MICHA Â£ (Poland), AGI (Canada), PrivÃ© SA (France), Behlen Mfg. Co. (USA), SCAFCO Grain Systems Co (USA), Superior Grain Equipment (USA) and Hoffmann, Inc. (USA) and MULMIX SpA Unipersonale (Italy) are the main players in the market.
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For this study, Reports and Data segmented the grain silos and storage market on the basis of product type, silo type, shape, and region:
Based on silo type: (Revenue, billion USD, 2021 – 2028)
â¢ Grain bins
â¢ Hopper silos
â¢ Flat bottom silos
â¢ Other types of silos
â¢ Synthetic silos
Product type based on: (Revenue, billion USD, 2021 – 2028)
Other Product Types: (Revenue, billion USD, 2021 – 2028)
Based on region: (Revenue, billion USD, 2021 – 2028)
â¢ North America
â¢ Asia Pacific
â¢ South America
â¢ Rest of the world (RoW)
Key Highlights of the Grain Silos and Storage Systems Market report:
â¢ A comprehensive market overview
â¢ An objective assessment of the growth trajectory of the Grain Silos and Storage Systems Market over the forecast period.
â¢ Comprehensive coverage of unprecedented changes in market dynamics during the pandemic period
â¢ Market segmentation at regional and global levels
â¢ Projections of historical, current and forecast market size in terms of value and volume
â¢ Take a closer look at recent industry trends and developments
â¢ Commercial growth strategies of the main market players in the main regional markets
â¢ Recommendations for new market entrants on strengthening the presence in the global market
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