The Grain Silos and Storage System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Grain Silos and Storage System Global Market Report 2024, 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.

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.

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The grain silos and storage system market covered in this report is segmented –
1) Grain Silos and Storage System Market By Silo Type: Flat Bottom Silos, Hopper Silos, Grain Bins, Other Silo Types
2) Grain Silos and Storage System Market By Commodity Type: Rice, Maize, Wheat, Soybean, Sunflower, Other Commodity Types
3) Grain Silos and Storage System Market By Product Type: Steel Silos, Metal Silos
4) Grain Silos and Storage System Market By Applications: Agriculture, Commerce

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.

The grain silos and storage system market report table of contents includes:

1. Executive Summary

2. Grain Silos and Storage System Market Characteristics

3. Grain Silos and Storage System Market Trends And Strategies

4. Grain Silos and Storage System Market - Macro Economic Scenario

5. Global Grain Silos and Storage System Market Size and Growth

......

31. Global Grain Silos and Storage System Market Competitive Benchmarking

32. Global Grain Silos and Storage System Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Grain Silos and Storage System Market

34. Grain Silos and Storage System Market Future Outlook and Potential Analysis

35. Appendix

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