Grain Storage Silos Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The grain storage silos market is projected to register a CAGR of 4. 2% during the forecast period (2021-2026). Though COVID-19 has impacted the silos business, there was no significant impact on the supply chain and global operations of silos.

New York, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Grain Storage Silos Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06221865/?utm_source=GNW
Due to the exemption of food and agricultural services due to lockdown restrictions, the grain storage silos market was less affected by the pandemic. As an impact of COVID-19, the global silos market has experienced a sluggish movement in 2020 with little turbulences. The market studied is recovering gradually and is gaining momentum, with an increasing demand for grain storage due to improved economic conditions, and is anticipated to experience a positive outlook during the forecast period.

The key drivers for this market include fluctuating grain prices, rising demand for large-capacity storage, and increasing investments and technological developments in 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 4 public Silo storage facilities in Haryana. Due to the increase in the grain stocks every year, there is a need to have larger storage capacities which in turn, driving the market globally.

Key Market Trends

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, has driven the grain storage silos industry during the study period. Further, rising input costs and the need for heavy investments for the storage of grains have led to a rise in demand for silos across all the regions. According to the International Grains Council (IGC), the global stocks of wheat increased from 171.0 million metric ton in 2012-2013 to 268.0 million metric ton in 2017-2018, and in 2020, the stock accounted for 278.0 million metric ton.

Silos are cost-effective modes of grain storage owing 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.

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 10 years, the on-farm storage has increased by 1.6 billion bushels. Off-farm storage has increased 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.?

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 in 2018, resulting in 20% of the total available storage being filled with soybean, corn, and wheat from the previous year’s harvest. This 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.

Competitive Landscape

The global grain storage silos market is fragmented in nature, in which major players account for 20.6% of the market studied, and other accounts for 79.4% in 2020. 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.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06221865/?utm_source=GNW

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