Grain Storage Silos Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.83 Billion |
| Market Size (2029) | USD 2.26 Billion |
| CAGR (2024 - 2029) | 4.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Grain Storage Silos Market Analysis
The Grain Storage Silos Market size is estimated at USD 1.83 billion in 2024, and is expected to reach USD 2.26 billion by 2029, growing at a CAGR of 4.20% during the forecast period (2024-2029).
- The grain storage silos market is integral to the global agricultural landscape, playing a vital role in managing and preserving harvested grains. World Bank data indicates that the global population, standing at 8.02 billion in 2023, is on track to hit 9.7 billion by 2050. As the global population expands and agricultural demands shift, the importance of efficient grain storage solutions becomes increasingly evident. Despite rising agricultural productivity, a significant challenge remains is that self-sufficiency is jeopardized by grain losses. These losses often stem from inadequate storage facilities, leading to price drops and diminished farmer profits. Consequently, the demand for effective post-harvest storage solutions bolsters the global grain silo market.
- Moreover, technological advancements by companies are propelling the market forward. For example, in 2024, Embratel, a leading Brazilian telecommunications firm, unveiled its "Smart Silo" innovation in India. This cutting-edge solution, a collaboration with Telematica Sistemas Inteligentes, integrates IoT devices, Big Data, and AI, with all data securely stored in the Cloud. The Smart Silo offers enhanced measurements for successful grain storage. Additionally, both developing and developed nations prioritize grain storage, not only for domestic use but also for export, further fueling market growth. Thus, factors like increasing production capacities and technological advancements are set to drive the market's expansion in the coming years.
Grain Storage Silos Market Trends
Steel Silos Segment dominate the market
Steel silos, known for their versatility, ease of assembly, hygienic handling, and cost-effectiveness, have emerged as a preferred choice for grain storage. Dominating the market, these silos are especially favored in regions with robust agricultural yields and a pressing need for grain storage. Designed to optimize storage capacity while minimizing space, steel silos enable the compact storage of vast quantities of grains and other agricultural products. This space efficiency proves invaluable in land-scarce areas, allowing farmers to store more produce without extensive land expansion, thus fueling market growth.
Beyond providing a secure environment, these silos are crucial in maintaining the quality and nutritional integrity of grains until processing or sale. They adeptly tackle challenges like humidity, temperature fluctuations, and machinery weight, all vital for managing bountiful harvests and ensuring a steady grain supply throughout the year. Commonly, steel silos in agriculture store grains like wheat, corn, soybeans, and rice. The FAO reports a rise in wheat production from 772 million metric tons in 2021 to 808 million metric tons in 2022. This surge in grain production directly amplifies the demand for silos, propelling market growth.
Furthermore, global initiatives advocating for the establishment of steel silos significantly influence market expansion. A case in point: In 2023, India, in collaboration with the Food Corporation of India (FCI) and through a public-private partnership (PPP), set up two steel silos for rice storage. Constructed by the National Commodity Management Services Ltd (NCML) in Buxar and Kaimur, Bihar, these silos aim to reduce cereal wastage during storage. Thus, the combination of vast storage capacities, rising cereal production, and the establishment of steel silos underscores the segment's growth trajectory during the forecast period.
North America Dominates the Market
North America leads in the use of silos for grain storage, bolstered by expanding off-farm storage capacities. According to the Global Agricultural Information Network, under the National Agricultural Statistics Service (NASS) of the US Department of Agriculture, on-farm storage in the U.S. reached 15.58 billion bushels in 2022, with Iowa contributing a significant 2.05 billion bushels. Additionally, off-farm grain storage in the United States as recorded at 11.822 billion bushels in December 2022, a slight uptick from 11.817 billion bushels the year prior. This increase in storage capacity aligns with rising grain production. As production continues to grow, the demand for storage will likely be met by adding more silos, further propelling this segment.
The region's commercial sector is rapidly expanding, with new grain storage facilities emerging to bolster agricultural production and trade. In 2024, Canadian agribusiness Parrish & Heimbecker Limited (P&H) expanded its Port of Hamilton facility, adding a new flour mill and two silos. These silos will handle essential ingredients like soymeal, distillers dried grains, and wheat. Equipped with advanced technologies, these facilities cater to both domestic and international market demands, underscoring their role in market growth.
Government initiatives are further propelling the expansion of grain storage facilities. In 2023, the U.S. Grains Council (USGC) launched the Tropical Grain Storage Project in Mexico, which included training on grain storage management and sanitation practices. This initiative not only boosts regional storage capacities but also supports market growth. Thus, the combination of rising off-farm storage capacities, facility expansions, and supportive projects underscores the driving forces behind the market's growth.
Grain Storage Silos Industry Overview
The grain storage silos market is fragmented, in which major players account for less market share. Ahrens Agri, Superior Silo LLC, Sioux Steel Company, Symaga, and Silos Cordoba are the major players in the market studied. New product launches, partnerships, and acquisitions are the major strategies adopted by the leading companies in the market globally.
Grain Storage Silos Market Leaders
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Superior Silo LLC
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Silos Cordoba
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Sioux Steel Company
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Ahrens Agri
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Symaga
*Disclaimer: Major Players sorted in no particular order
Grain Storage Silos Market News
- June 2024: Egypt and Europe signed an agreement named Team Europe initiative for the construction of new wheat silos in Egypt during the Investment Conference. This initiative is backed by a €60 million (USD 66 million) investment from the EU and implemented by AFD and the Ministry of Supply and Internal Trade (MOSIT) to expand wheat storage capacity and enhance food security.
- March 2023: Prado Silos introduced its latest grain storage solutions for the agricultural industry at VIV ASIA 2023, held in Bangkok.
- January 2023: Holde Agri Invest has allocated an investment of USD 1.76 million towards the establishment of a new grain silo at the Frumusani farm, located in Calarasi County, Romania. This silo boasts a storage capacity of 10,000 tons making the Holde’s total grain storage capacity 25,000 tons.
Grain Storage Silos Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Post Harvest Grain Losses
4.2.2 Fluctuations in Grain Prices
4.2.3 Rising Investments and Technological Developments
4.3 Market Restraints
4.3.1 Incidence of Storage Pests and Diseases
4.3.2 High Initial Investments
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Steel Silos
5.1.2 Metal Silos
5.1.3 Other Types
5.2 Product
5.2.1 Flat Bottom Silos
5.2.2 Hopper Bottom Silos
5.2.3 Feed Hoppers
5.2.4 Farm Silos
5.3 Geography
5.3.1 North America
5.3.1.1 United Sates
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Netherlands
5.3.2.7 Russia
5.3.2.8 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 South Africa
5.3.5.2 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Rostfrei Steels
6.3.2 Superior Grain Equipment
6.3.3 Henan Sron Silo Engineering Co.
6.3.4 Silos Cordoba
6.3.5 Sioux Steel Company
6.3.6 Skess Corporation
6.3.7 Nelson Silos
6.3.8 Symaga
6.3.9 Arsenal Steel Silos
6.3.10 Ahrens Agri
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Grain Storage Silos Industry Segmentation
A grain storage silo is a structure used to store grain in bulk for the agriculture industry. The grain storage silos market is an important segment of the grain storage facility industry, which boosts the agricultural output supply when needed. The Grain Storage Silos Market is segmented by type (steel silos, metal silos, and other types), product (flat bottom silos, hopper bottom silos, feed hoppers, and farm silos), and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market size and forecast value in (USD) for all the above segments.
| Type | |
| Steel Silos | |
| Metal Silos | |
| Other Types |
| Product | |
| Flat Bottom Silos | |
| Hopper Bottom Silos | |
| Feed Hoppers | |
| Farm Silos |
| Geography | ||||||||||
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Grain Storage Silos Market Research Faqs
How big is the Grain Storage Silos Market?
The Grain Storage Silos Market size is expected to reach USD 1.83 billion in 2024 and grow at a CAGR of 4.20% to reach USD 2.26 billion by 2029.
What is the current Grain Storage Silos Market size?
In 2024, the Grain Storage Silos Market size is expected to reach USD 1.83 billion.
Who are the key players in Grain Storage Silos Market?
Superior Silo LLC, Silos Cordoba, Sioux Steel Company, Ahrens Agri and Symaga are the major companies operating in the Grain Storage Silos Market.
Which is the fastest growing region in Grain Storage Silos Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Grain Storage Silos Market?
In 2024, the North America accounts for the largest market share in Grain Storage Silos Market.
What years does this Grain Storage Silos Market cover, and what was the market size in 2023?
In 2023, the Grain Storage Silos Market size was estimated at USD 1.75 billion. The report covers the Grain Storage Silos Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Grain Storage Silos Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Grain Storage Silos Industry Report
Statistics for the 2024 Grain Storage Silos market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Grain Storage Silos analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Grain Storage Silos Market Report Snapshots
