Grain Silos and Storage System Market 2024-2033: Latest Trends, Recent Developments, Growth Strategy And Major Players

The Business Research Company recently released a comprehensive report on the Global Grain Silos and Storage System Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The grain silos and storage system market size has grown strongly in recent years. It will grow from $1.61 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to population growth and food demand, modernization of agriculture practices, government initiatives for food security, increased global trade of grains, climate change concerns, expansion of agribusiness.

The grain silos and storage system market size is expected to see strong growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to urbanization and land use changes, renewable energy integration, global efforts for sustainable agriculture, resilience to climate change impacts, rise in vertical farming practices. Major trends in the forecast period include adoption of iot and sensor technologies, aeration systems for grain quality, automation and digitization in silo operations, grain management software, customization for specialty grains, energy-efficient storage solutions.

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Market Drivers and Trends:

The increased consumption of crops is expected to propel the growth of grain silos and the storage system market going forward. A crop is a plant that is cultivated or grown on a large scale, such as a grain, vegetable, or fruit grown in large amounts on a farm. The consumption of crops is increasing as there is rapid growth in population. The increase in consumption of crops leads to an increase in the production and storage of grains resulting in an increase in the grain silos and storage system market. For instance, in April 2023 according to the report published by Food and Agriculture Organization, a Canada-based international organization that leads international efforts to defeat hunger and improve nutrition and food security, global wheat utilization increased from around 762 million tons in 2020/2021 to around 773 million tons in 2021/2022. It is anticipated that it increases to 780 million tons in 2022/2023. Therefore, the increase in the consumption of crops is driving the growth of the grain silos and storage system market.

Major companies operating in the grain silos and storage system markets are adopting advanced technologies such as grain handling robots to increase their profitability in the market. Grain handling robots are advanced robotic systems designed to automate a variety of tasks in the agriculture and food industries, including assisting in grain storage, managing grain bins, optimizing storage conditions, and monitoring inventory levels. For instance, in April 2023, Crover, a Scotland-based agricultural technology firm, unveiled a groundbreaking robot designed to navigate through bulk stacks of crops, ensuring optimal grain storage conditions. This innovative technology, featuring a T-shaped design and equipped with moisture and temperature sensors, is aimed at assisting grain aggregators and farmers in monitoring and preserving the quality of stored crops, such as barley and wheat. The robot collects essential data on crop conditions as it moves through the grain, and the analyzed information is then transmitted to a user-friendly dashboard, offering real-time insights to grain aggregators. This advancement has the potential to revolutionize grain storage and management, with the prospect of minimizing waste and enhancing crop yields.

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Major Key Players of the Market:

AGCO Corporation; Behlen Mfg. Co.; Polent SP Zoo; Prado Silos; SCAFCO Grain Systems Co.; Sioux Steel Company; Bentall Rowlands Silo Storage Ltd.; Brock Grain Systems Inc.; Dehsetiler Makina; Hoffmann Inc.; Mulmix Srl; Ag Growth International Inc.; Buhler Holding AG; Wieser Concrete Products Inc.; Arsenal Steel Silos Machinery Pvt. Ltd.; CTB Inc.; GrainPro Inc.; Grain Systems Inc.; Henan Sron Silo Engineering Co.; Rostfrei Steels Pvt. Ltd.; Silos Metálicos Zaragoza S.L.U.; Skess Corporation; Steel Structures America Inc.; Steffes Group Inc.; Stiffened Grain Bins; Sukup Manufacturing Co.; Superior Grain Equipment; U.S. Grain Storage Systems Inc.

Grain Silos and Storage System Market 2024 Key Insights:

• The grain silos and storage system market will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.
• The Symbiotic Relationship Between Crop Consumption And Storage Systems
• Advanced Grain Handling Robots For Optimal Crop Preservation And Management
• North America was the largest region in the grain silos and storage system market in 2023

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