Silos are utilized in agriculture sector to store different types of grains such as rice, wheat, maize, barley, and others. Silos comes in different shapes, which includes flat bottom silos, hopper bottom silos, feed hoppers, and farm silos. Moreover, silos are available in different types such as steel silo, metal silo, concrete silo, wood silo, and others.
Global grain storage silo market is expected to be driven by rising food grain production coupled with increasing population across the globe. For instance, according to the report published by United Nations on ‘World Population Prospects 2019’, the current population across the globe is estimated to be 7.7 billion and it is expected to reach around 8.5 billion by 2030, 9.7 billion by 2050, and 10.9 billion in 2100. Therefore, the growing population would lead to rise in the production of food grain to feed and need for its storage, which is expected to propel growth of grain storage silo market.
Among shape, flat bottom silo segment is expected to witness significant market growth in terms of value over the forecast period. Flat bottom silos are considered convenient option for safe and long term storage. Additionally, this type of silos is easy to manufacture and has low cost of storing compared to the other storage types. Therefore, owing these advantages the segment is expected to propel growth of the global market during the forecast period.
Among regions, Asia Pacific is expected to account for a significant market share during the forecast period, owing to the rising food grain production in the region, which is expected to propel growth of the market over forecast period. For instance, according to the Food & Agriculture Organization, in 2018, the estimated grain production in India was 275 million tons (MT). Therefore, the growing grain production in the region is expected to boost the grain storage silo market.
Key players in the global grain storage silo market include Sioux Steel, Silos Cordoba, Hanson Silo Company, Nelson Silos, Henan Haokebang machinery Equipment co. Ltd, P+W Metallbau GmbH & Co. KG, Superior Grain Equipment, Ahrens Agri, CST Industries, Inc., Symaga, Kotzur, GE Silos, and others
Market players are focusing on growth strategies such as business expansion, product launches, mergers & acquisitions, partnership & collaborations, and others to gain a strong foothold in the global market. For instance, in 2018, Silos Córdoba, manufacturer of steel silos for grain storage, built a turnkey grain terminal at the port of Antwerp, Belgium. The storage facility includes 37 grain silos for storing crops such as malt and barley. The storage has total capacity of over 20,000 tones.
On the basis of silo type, the global grain storage silo market is segmented into:
On the basis of shape, the global grain storage silo market is segmented into:
On the basis of crop, the global grain storage silo market is segmented into:
On the basis of region, the global grain storage silo market is segmented into: