Grain Storage Silos Market Report 2024

This Grain Storage Silos market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The grain storage silos market size has grown steadily in recent years. It will grow from $1.51 billion in 2023 to $1.58 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period is due to the expansion of the animal feed industry, a shift towards sustainable farming practices, improved global supply chain efficiency, increasing export activities, and heightened awareness of food waste.

The grain storage silos market size is expected to see strong growth in the next few years. It will grow to $1.92 billion in 2028 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period is attributed to the rising global demand for grains, increased agricultural production, government initiatives and subsidies, growth in agribusiness investments, and growing food security concerns. Major trends during this period include technological advancements in storage solutions, the adoption of smart silos, the implementation of vertical storage systems, progress in grain drying technology, and enhanced silo management software.

The anticipated growth in agricultural productivity is expected to drive the expansion of the grain storage silos market. Advances in technology, improved farming practices, and the adoption of high-yield crop varieties are contributing to rising agricultural productivity. Grain storage silos play a crucial role by enabling the efficient storage of harvested grains, thereby reducing spoilage and waste and facilitating better management of supply and demand throughout the year. For example, in February 2024, a report from the Department for Environment, Food and Rural Affairs, a UK-based ministerial department, highlighted that agriculture contributed $15.3 billion (£13.9 billion), or 0.6% of GDP, to the UK economy in gross value added (GVA) at basic prices for 2022. This represented a $1.98 billion (£1.8 billion) increase, reflecting a 15% rise from 2021. Furthermore, total income from farming (TIFF) in the UK grew by $1.2 billion (£1.1 billion), or 17%, reaching $8.6 billion (£7.9 billion) in 2022. As a result, increasing agricultural productivity is a significant driver of the grain storage silos market.

Key players in the grain storage silos market are concentrating on developing advanced technological solutions, such as grain monitoring systems, to provide real-time data on essential parameters. A grain monitoring solution is a system designed to track and manage critical factors such as temperature, moisture, and inventory levels within grain storage facilities to ensure optimal quality and prevent spoilage. For instance, in April 2024, Embratel, a Brazil-based digital solutions company, introduced Smart Silo, an advanced grain storage monitoring solution that integrates Internet of Things (IoT) technology, big data, and artificial intelligence (AI). Smart Silo optimizes environmental conditions and ensures the quality of stored grains by providing real-time data on critical indicators such as temperature, humidity, and CO2 concentration. This solution enables producers to make informed decisions and prevent losses due to spoilage or gas emissions. The Smart Silo also enhances operational efficiency and safety by automating measurements that were previously conducted manually, thus transforming grain management in the agribusiness sector.

In March 2022, Sioux Steel Co., a US-based manufacturer of grain bins, acquired Scafco Grain Systems Co. for an undisclosed amount. This acquisition is aimed at enhancing Sioux Steel’s product offerings and global presence while leveraging the combined strengths of both companies in manufacturing and customer service within the grain storage sector. Scafco Grain Systems Co. is a US-based manufacturer specializing in grain storage silos.

Major companies operating in the grain storage silos market are Ag Growth International Inc., Behlen Manufacturing Co., Sukup Manufacturing Co., Mysilo, Chief Industries, Ahrens Group Pty Ltd., Sioux Steel Company, Roxell, Agrosaw, Symaga, Alvan Blanch Development Co., Rostfrei Steels Co., Tornum AB, Silos Cordoba Co., Superior Grain Equipment, ABC Hansen Africa Ltd., Buschhoff, Kotzur Pty Ltd., Moylan Grain Silos, Mulmix Spa, Nelson Silos, Prado Silos, RIELA, SIMEZA Silos, Stolz Engineering Pte Ltd.

North America was the largest region in the grain storage silos market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the grain storage silos market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the grain storage silos market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Grain storage silos are large structures designed to store bulk quantities of grains such as wheat, corn, and rice. These silos are built to protect the grain from moisture, pests, and other environmental factors, thereby maintaining its quality for extended periods. They are widely used in the agriculture and food processing industries to manage grain inventory and maintain a stable supply throughout the year.

The primary types of grain storage silos include flat-bottom silos, hopper silos, grain bins, and others. Flat-bottom silos are large storage structures with a flat base, designed to store substantial quantities of grains and other bulk materials. These silos come in various capacities, such as below 50 tons, 50-300 tons, 301-1000 tons, and above 1000 tons, and are used on farms, in large ports, in the food industry, and in other sectors.

The grain storage silos market research report is one of a series of new reports that provides grain storage silos market statistics, including grain storage silos industry global market size, regional shares, competitors with a grain storage silos market share, detailed grain storage silos market segments, market trends and opportunities, and any further data you may need to thrive in the grain storage silos industry. This grain storage silos market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The grain storage silos market consists of sales of grain handling equipment, grain cleaning systems, level monitoring systems, and grain conditioning equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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