Grain Storage Silos Market Size
| Study Period | 2018 - 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 |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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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).
- Agricultural productivity is increasing worldwide due to the increasing population. Despite the expanding productivity, self-sufficiency is one of the critical problems due to grain losses. This grain loss happens due to proper storage facilities' unavailability, which leads to a price drop and a decrease in the profits for the farmers. The need for appropriate post-harvest storage facilities aids the market for grain silos across the globe. Therefore, the critical drivers for this market include fluctuating grain prices and rising demand for large-capacity storage.
- Along with this, the primary company's increasing investments and technological developments are also driving the market. For instance, in India, in 2021, National Commodities Management Services Limited (NCML), India's largest private-sector agriculture post-harvest management company, launched four public storage silo facilities in Haryana. Due to the increase in grain stocks every year, there is a need to have larger storage capacities, which is driving the market globally.
- Furthermore, the storage of grains is of great importance in developing and developed countries as they store large grain capacities for future use and export. Thus, the spoilage of grains by pests, rodents, and birds causes significant losses to the crops. For instance, The market for grain silos is huge in North America. Farmers in the region rarely hold substantial inventories at the end of a marketing year. Inventories of wheat and barley, corn, soybeans, and other grains are almost entirely held off-farm. Additionally, companies in the region are also expanding the silo's storage capacity to store a large volume of grains. Hence, these factors aid the market growth in the forecast period.
Grain Storage Silos Market Trends
This section covers the major market trends shaping the Grain Storage Silos Market according to our research experts:
Rising Demand for Large Capacity Storage
The growing demand for grain storage from the leading grain-producing countries in the world, namely, the United States, Russia, India, Brazil, and others, have driven the grain storage silos industry during the study period. Further, rising input costs and heavy investments required in grain storage led to a rise in demand for silos across all regions. According to the International Grains Council (IGC), the global wheat stock increased from 276 million metric tons in 2020, and the stock accounted for 278.0 million tons in 2021. This increase in the production of grains led to the market's growth in the forecast period.
Further, Egypt relies on imports for grains, especially wheat. The conflict between Ukraine and Russia caused wheat supply challenges. Even with additional measures to diversify its wheat supply, rising global prices would impede Egypt's ability to purchase large volumes of wheat from international sources. Therefore, Egypt continued to build new silos and expand its storage capacity, which may allow Egypt to limit imports to withstand price spikes.
Along with this, silos are cost-effective modes of grain storage due to the automation of grain transport, resulting in low operational costs in the long run. The loading and unloading costs of silos are also low than grain warehouses, as automation is operated by the Supervisory Control and Data Acquisition (SCADA) system. The benefits of cost-effectiveness and the large holding capacity of silos are driving the grain storage silos market globally.
Understand The Key Trends Shaping This Market
North America Dominates the Market
North America held the largest share in using silos for grain storage in 2020. As per the United States Department of Agriculture (USDA), in the last ten years, the on-farm storage increased by 1.6 billion bushels and off-farm storage by 2.2 billion bushels, registering a growth of 14% and 24%, respectively. The producers in the country mostly prefer flat-bottom or hopper-bottom silos as they can be used for long-term storage. It increased the market for flat-bottom silos or hopper-bottom silos in the United States.
Moreover, the US grain storage capacity improved substantially in the last 20 years. According to USDA, in 2020, the national grain storage capacity was approximately 25.3 billion bushels. Corn, soybeans, wheat, and other crop storage differ concerning the absolute quantity, harvest timing, and production location. Nationally, corn dominates grain inventories. Post-harvest corn makes up more than three-quarters of US grain inventories, with the majority of corn inventory held on-farm. Of the total corn stocks, 7.23 billion bushels were stored on farms in 2021, an increase of 3% from 2020. This increase in the stocks of major grain crops leads to market growth during the forecast period.
Along with this, as per USDA, the recent imposition of tariffs by both the United States and China on primary commodities led to the accumulation of grain surplus for the US farmers, resulting in 20% of the total available storage filled with soybean, corn, and wheat. It is anticipated to further boost the need for more large storage silos across the country during the forecast period, as the existing ones are reaching full capacity.
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Grain Storage Silos Industry Overview
The grain storage silos market is fragmented, in which major players account for less market share. Ahrens Agri, Buhler Group, 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
Superior Silo LLC
Silos Cordoba
Sioux Steel Company
Ahrens Agri
Symaga
*Disclaimer: Major Players sorted in no particular order
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Grain Storage Silos Market News
- March 2022: Sioux Steel Co. acquired SCAFCO Grain Systems Co. based in the United States. SCAFCO includes installations in more than 80 countries and offers a line of grain bins, structures, handling equipment, drying technology, and accessories. Therefore, acquiring SCAFCO products, machinery, and factories will quickly increase Sioux Steel's capacity to deliver products to customers worldwide.
- March 2022: A new cereal storage plant was completed assembling in Romania by the Silos Cordoba company. The facility consists of 43,779 m3 flat bottom silos with lateral discharge, catwalks, and supports and includes a total capacity of 15,116 m3, along with thermometry, ventilation, cleaning, drying, and automation systems.
- September 2021: Riviana Foods Inc., a subsidiary of Madrid, Spain-based Ebro Foods, SA, constructed two new silos at its wild rice facility in Minnesota, United States. It would increase the facility's storage capacity by more than 50%.
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
4.3 Market Restraints
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
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
Silos are a cost-effective mode of storage in the long run and occupy less ground space when land is constrained, and storage costs are high. 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 million) for all the above segments.
| Type | |
| Steel Silos | |
| Metal Silos | |
| Other Types |
| Product | |
| Flat Bottom Silos | |
| Hopper Bottom Silos | |
| Feed Hoppers | |
| Farm Silos |
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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 1.76 billion. The report covers the Grain Storage Silos Market historical market size for years: 2018, 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 Intelligenceā¢ 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
