Growth Opportunities in the Grain Silos and Storage System Market

The report "Grain Silos and Storage System Market by Silo Type (Flat bottom silo, Hopper silo, Grain bins, and Other silo types), Commodity Type (Rice, Wheat, Maize, Soybean, Sunflower, and Other commodity types), & Region – Global Forecast to 2025", The global grain silos & storage system market size is estimated to be valued at USD 1.3 billion in 2020 and is expected to reach a value of USD 1.6 billion by 2025, growing at a CAGR of 4.8% during the forecast period. The growth of the grain silos and storage system market is driven by factors such as the increase in production of high-quality grains through effective storing, and efficient post-harvest management of grains to drive the market growth.

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Driver: Production of high-quality grains through effective storing and efficient post-harvest management to drive the market growth

A majority of the countries, including the US, Canada, Mexico, China, India, Germany, and the UK, which significantly export agricultural produce in the international markets, are focusing on maintaining the quality of their grains for a longer period of time. Their use is higher in the developed regions, as the farmers in these regions cultivate large-scale farmlands and store high quantities of crops for a longer period of time. In addition, due to the increased prevalence of farmers that can invest in set-up silos, the growth of the market is high in the region. The European region consists of many strong grain silo manufacturers. The key players in the silos market, such as Rostfrei Steels, Silos Cordoba, PRADO Silos, and Symaga, are now focusing on developing silos that meet the needs of farmers in different geographies.

Constraint: High initial investments in equipment and its setup affect their demand across developing countries across regions

Smallholder farmers comprise the majority of the cultivator population in all the regions of the world. They are devoid of appropriate resources and facilities to produce large yields. These farmers are increasingly unaware of the importance of effective storage and maintenance of high-quality grains produced. Small-scale farmers reside in rural areas and have limited land resources to be able to establish silos for storage. According to JMS equipment, the budget capital cost of a cylindrical silo vessel can vary from USD 50,000 for a small bolted silo to over USD 1,000,000 depending on the size and materials of construction. Such investments are possible for a small farmer. Hence, they are still adhering to the traditional methods of grain storage, resulting in a loss of at least 8%–10% of their produce.

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 the livestock feed.

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North America to be the largest market for grain silos and storage system 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 had 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).