Grain Silos Storage System Market Size was valued at USD 1.5 Billion in 2022. The grain silos storage system market industry is projected to grow from USD 1.58 Billion in 2023 to USD 2.387 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.30% during the forecast period (2024 - 2032). Major market drivers that will affect the revenue growth of the grain silos and storage system market include the expanding high-quality grain output achieved through effective post-harvest and storage systems. The market's growth will be accelerated by the spike in demand for storage with a high capacity and low cost.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In the future, the market for storage systems and grain silos are anticipated to develop due to the rising consumption of crops. A plant that is produced in huge quantities, such as a crop of grains, vegetables, or fruits on a farm, is one that has been cultivated or grown on a large scale. In tandem with the population's rapid rise, agricultural consumption is rising. The market for grain silos and storage systems grows as crop consumption rises, which also boosts grain output and storage. According to a report released in April 2023 by the Food and Agriculture Organization, a global organization with headquarters in Canada that coordinates efforts to end world hunger and improve nutrition and food security, the world's wheat consumption increased from about 762 million tons in 2020–2021 to about 773 million tons in 2021–2022 on average. In 2022–2023, it's projected to rise to 780 million tons. As a result, the market for grain silos and storage systems is expanding due to the rise in crop consumption.
The expansion of the market is being driven by the rising usage of grain silos and storage systems in the agricultural sector, particularly in large-scale farming operations. The system's increased cost-effectiveness is causing farmers to use it more frequently, which is boosting the market's expansion. Grain silos and storage systems are used more frequently to efficiently store crops while minimizing wastage in order to battle food shortages and world hunger. This in turn is fueling the market's expansion. The need for grain silos and storage facilities is booming due to the rising awareness of the significance of effective post-harvest management, which is promoting market expansion. Due to their high capacity and low labor needs, these storages have a low operating cost, which has led to widespread use by small farmers and accelerated industry expansion. Additionally, the growing accessibility of cutting-edge systems that offer total protection from the weather while preventing pathogen invasion is anticipated to present profitable growth chances for the market in the anticipated time frame.
The market for grain silos and storage systems is seeing a significant increase in the primary trend of technological developments. To maintain their market share, major players in the grain storage and silos market are using innovative technology. For instance, Ag Growth International Inc., a Canadian producer of stationary and mobile grain handling, storage, and conditioning equipment, introduced SureTrack 2.0 in April 2020. SureTrack 2.0 is an updated and improved agriculture business platform that combines new management features with current software and hardware solutions. It uses real-time 3-D visualizations, financial and input analyses, and the power of traceability to develop a one-location, one-login remote farm management solution that will increase the farm's productivity and profitability. Thus, driving the grain silos storage system market revenue.
The Grain Silos Storage System Market segmentation, based on silo type includes Flat bottom silos, Hopper silos, Grains bins and Other silo types (bags, bunkers, towers, and synthetic silos). The flat bottom silos segment dominated the market. The ease of installation and flexibility in terms of capacity and design are the main factors encouraging the market expansion for this sector. Farmers and grain traders typically choose for flat-bottom silos because they may be built on any type of foundation.
Figure 1: Grain Silos Storage System Market by Silo Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Grain Silos Storage System Market segmentation, based on commodity type, includes Rice, Maize, Wheat, Soybean, Sunflower and Other commodity types (barley and sorghum). The maize category generated the most income due to the fact that it is used in both industrialized and developing nations. Furthermore, it is processed into a number of food and industrial products, such as sweeteners, starch, maize oil, drinking and industrial alcohol, and fuel ethanol. It is also used as livestock feed.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American grain silos storage system market area will dominate this market because of the growing number of technological developments in this area. The adoption of various energy conservation techniques and the growing understanding of the significance of proper grain storage to prevent spoilage and maintain grain quality are driving the demand for grain silos and storage systems in North America. Additionally, the influence of global warming, with changing climate patterns and extreme weather occurrences, has enhanced the relevance of good grain storage systems. This is done to minimize losses from deterioration caused by unfavorable weather conditions.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Grain Silos Storage System Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe grain silos storage system market accounts for the second-largest market share. The food and beverage industry, particularly in countries like the UK, is a major driver of demand for grain storage systems. The UK economy attributed around 32.76 billion USD worth of value to food and beverage items, according to the Food and Drink Federation (FDF). In order to maintain grain quality, avoid rotting, control temperature, and ensure food safety along the supply chain, the food and beverage industry, including food producers and logistics companies, is in increasing need of effective grain storage solutions. Further, the German grain silos storage system market held the largest market share, and the UK grain silos storage system market was the fastest growing market in the European region
The Asia-Pacific Grain Silos Storage System Market is expected to grow at the fastest CAGR from 2023 to 2032 due to the region's rapidly urbanizing population, rising standard of living, and rising disposable income. The growing need for grain storage solutions in developing countries like India and China is driving the growth of the market in the Asia-Pacific region. These countries' rising temperatures and growing middle classes have increased need for effective grain storage technology in order to avoid rotting and ensure food safety. Moreover, China’s grain silos storage system market held the largest market share, and the Indian grain silos storage system market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the grain silos storage system market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, grain silos storage system industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global grain silos storage system industry to benefit clients and increase the market sector. In recent years, the grain silos storage system industry has offered some of the most significant advantages to medicine. Major players in the grain silos storage system market are attempting to increase market demand by investing in research and development operations includes PRADO SILOS, AGCO Corporation., AGI, Silos Córdoba, Silos Metálicos Zaragoza S.L.U., Bentall Rowlands Silo Storage Ltd., MYSILO / SFA GROUP, Sukup Manufacturing., Dehsetiler Makina, MULMIX S.r.l., Polnet Sp. z o. o., CTB, INC., Behlen Mfg. Co., SCAFCO Grain Systems Co., Sioux Steel Company., Symaga., Superior Grain Equipment, and Hoffmann, Inc., among others.
Hoffmann, Inc. is a design-build company established in Iowa that has been doing business across the contiguous United States since 1914. We are a leader in the design and building of cast-in-place, reinforced concrete chimneys and storage silos in the country because to our extensive history and experience. Hoffmann grew its clientele in the 1970s and started creating cast-in-place reinforced concrete storage facilities with bigger diameters.
The AGCO Corporation (AGCO) produces and sells agricultural machinery and the replacement parts that go with it. Tractors, self-propelled sprayers, combines, fodder equipment, hay tools, tillage, grain storage, and protein production systems are among the things it offers. The business uses a global network of independent dealers and distributors to distribute its goods. It sells goods under the brands Challenger, GSI, Massey Ferguson, Fendt, and Valtra.
In April 2024, technology enhances efficiency, cost-effectiveness, and management of grain storage. Embratel has introduced Smart Silo, a cutting-edge technology for monitoring grains stored in silos. The new service is a distinctive amalgamation of Internet of Things (IoT) devices, Big Data, and artificial intelligence (AI) capabilities, all of which are kept in the Cloud.
In August 2022, the Food and Agriculture Organization of the United Nations (FAO) declared the initiation of a new initiative of US$40 million aimed at addressing the scarcity of grain storage facilities in Ukraine. According to the statement released on 2 August, the effort, which was financed by Canada, enabled the storage of an extra 2.4 million tons of grain between 2022 and 2023.
March 2022: The company Silos Cordoba finished constructing a new cereal storage facility in Romania. The facility has a total capacity of 15,116 m3 and is made up of 43,779 m3 flat bottom silos with lateral discharge, catwalks, and supports. It also has automation, ventilation, cleaning, and drying systems, as well as thermometry.
September 2021: At its wild rice operation in Minnesota, the United States, Riviana Foods Inc., a division of Ebro Foods, SA, based in Madrid, Spain, built two new silos. The facility's storage capacity would rise by more than 50% as a result.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.5 Billion |
| Market Size 2023 | USD 1.58 Billion |
| Market Size 2032 | USD 2.387 Billion |
| Compound Annual Growth Rate (CAGR) | 5.30% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2023 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Silo Type, Commodity Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | PRADO SILOS, AGCO Corporation., AGI, Silos Córdoba, Silos Metálicos Zaragoza S.L.U., Bentall Rowlands Silo Storage Ltd., MYSILO / SFA GROUP, Sukup Manufacturing., Dehsetiler Makina, MULMIX S.r.l., Polnet Sp. z o. o., CTB, INC., Behlen Mfg. Co., SCAFCO Grain Systems Co., Sioux Steel Company., Symaga., Superior Grain Equipment, and Hoffmann, Inc., among others. |
| Key Market Opportunities | Due to the increasing consumption of crops, the market for storage systems and grain silos is predicted to grow |
| Key Market Dynamics | Increasing use of grain silos and storage facilities, especially in large-scale farming operations |
Frequently Asked Questions (FAQ) :
The Grain Silos Storage System Market size was valued at USD 1.5 Billion in 2022.
The global market is projected to grow at a CAGR of 5.30% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are PRADO SILOS, AGCO Corporation., AGI, Silos Córdoba, Silos Metálicos Zaragoza S.L.U., Bentall Rowlands Silo Storage Ltd., MYSILO / SFA GROUP, Sukup Manufacturing., Dehsetiler Makina, MULMIX S.r.l., Polnet Sp. z o. o., CTB, INC., Behlen Mfg. Co., SCAFCO Grain Systems Co., Sioux Steel Company., Symaga., Superior Grain Equipment, and Hoffmann, Inc., among others.
The flat bottom silos category dominated the market in 2022.
The maize category had the largest share in the global market.
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Research Analyst Harshita post graduate mba in business administration from welingkar institute, mumbai and 5 years of experience in the field of product market research. as a research analyst, i have cross-domain experience in packaging, and industrial automation & equipment. i am currently looking after the research process of packaging, logistics & transportation, and industrial automation & equipment at market research future reports. my responsibilities at the organization involve handling syndicate and custom reports as well as responding to client inquiries, and organize, co-ordinate with a group of 5 to 6 persons to manage all workflows.
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