Enjoy complimentary customisation on priority with our Enterprise License!
The grain silos and ancillary equipment market size is estimated to grow at a CAGR of 5.95% between 2022 and 2027 and the size of the market is forecast to increase by USD 12,222.38 million. The growth of the market depends on several factors, such as the increase in demand for grain storage, the increasing government support to expand grain silos, and the growing adoption of grain silos and ancillary equipment certified as safe.
This report extensively covers market segmentation by type (grain silos and ancillary equipment), application (grain transportation and grain storage), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
Our analysis of the adoption life cycle of the market indicates its movement between the innovator’s stage and the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Grain Silos and Ancillary Equipment Market Customer Landscape
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The increase in demand for grain storage is driving market growth. Increased food production and greater population have resulted in greater demand for storage facilities such as high-quality grain silos and ancillary equipment. In the US, on-farm storage capacity and off-farm storage capacity reached 15.58 billion bushels and 11.822 billion bushels respectively in 2022. This shall further drive the growth of grain silos and ancillary equipment market in the US which ensure large-scale secure storage of food with the options of temperature and pest control.
Moreover, they require less space compared to warehouses due to their horizontal structure, also resulting in greater storage capacity. Silos can be chosen from a variety of capacities and sizes, as per end-user requirements. Hence, the above factors are likely to propel the growth of the market during the forecast period.
The increasing focus on galvanized grain silos is a key trend in the market. Galvanization involves adding a zinc coating on steel to prevent rusting which helps increase the lifespan of silos. Galvanized silos have greater corrosion resistance and reinforced properties. Other factors such as grain loss reduction and ensuring food security and safety by silo manufacturers are also making them more appealing to end users. One such way to ensure possible deformation is by silos having reinforced roofs.
For instance, in January 2020, SILOS CORDOBA launched its new model of farm silos that have an innovative metal coating, ProMag. It is an alloy of aluminum, magnesium, and zinc and offers corrosion resistance up to 10 times more than galvanized steel. Growing awareness about the importance of food storage quality and increasingly stringent regulations are resulting in end users adopting high-quality grain silos. Hence the above factors are likely to propel the growth of the market during the forecast period.
Constant fluctuations in raw material prices are challenging market growth. Aluminum and steel are vital components in the manufacture of grain silos and ancillary equipment, making their price volatility directly impact manufacturing costs. Due to several macroeconomic factors, such as inflation, labor cost, and regulatory policy changes, their prices fluctuate massively.
Additionally, as this cost crosses a certain limit, raw material suppliers are compelled to increase costs to industries they supply, including grain silo manufacturers. Hence, such supply-demand imbalances are predicted to result in further price volatility and cause uncertainty in raw material procurement plans for silo manufacturers. Hence the above factors are likely to hinder market growth during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ag Growth International Inc. - The company offers grain silos and ancillary equipment such as Westeel Stiffened grain bins, AGI On-Farm grain storage systems, AGI Ag-Comm grain storage systems.
AGCO Corp. - The company offers grain silos and ancillary equipment under its brand GSI and Cimbria.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The grain silos segment in the global grain silos and ancillary equipment market is expected to witness steady growth during the forecast period. They help with the storage of large quantities of grains and help in saving space and keeping food unspoiled for longer compared to warehouses. They help ensure grain loss due to pests, insects, and birds as well as temperature fluctuations are prevented by allowing optimum storage conditions.
Get a Customised Report as per your requirements for FREE!
The grain silos segment showed a gradual increase in the market share of USD 1,993.56 million in 2017 and continued to grow by 2021. The optimum environmental condition inside silos varies based on the type of grains stored and the external environmental conditions. Technological advancements and improved distribution channels are allowing vendors to further expand. A greater number of vendors in the market, expanding food production, and high growth in countries like Indonesia and Thailand are positively impacting the global grain silos and ancillary equipment market. All of these factors are likely to boost market growth during the forecast period.
The grain transportation segment dominated the market in focus in 2022. Grain handling equipment like grain augers helps to transport grains quickly and effectively. The option of renting it makes it viable for small and medium-scale farmers as well. Grain augers are becoming more useful due to the ability for farmers to purchase according to their time requirements. They have ease of transportation, usage, and cleaning. Additionally, increasing food production by nations like China and India shall also boost the demand for ancillary equipment further expanding the growth for the market during the forecast period.
For more insights on the market share of various regions View PDF Sample now!
North America is estimated to contribute 40% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
Within the North American region, the US is the largest revenue contributor to the grain silos and ancillary equipment market due to it being the largest regional producer of grains, and high on-farm storage and off-farm storage capacities. The presence of an organized agricultural sector as well as increasing production of grains like corn, wheat, sorghum, barley, and oats are other factors that positively influence demand in this market. Besides the US, Canada is another significant player in the regional market. However, a key reason the market is larger in the US is due to the carbon tax on drying crops in Canada, which results in a higher production cost. Hence such factors are likely to influence the growth of the market during the forecast period.
The COVID-19 outbreak negatively impacted the agriculture sector, which had a direct impact on regional grain silos and ancillary equipment market. A shortage of labor and supply chain disruptions negatively impacted the market. However, large-scale vaccination drives resulted in the expansion of food processing plants, boosting food production, and contributing to the growth of the grain silos and ancillary equipment market. Hence, the above factors are predicted to result in the growth of the regional market during the forecast period.
The grain silos and ancillary equipment market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Grain Silos And Ancillary Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.95% |
Market growth 2023-2027 |
USD 12,22.38 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.49 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 40% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ag Growth International Inc., AGCO Corp., Ahrens Group Pty Ltd., Bentall Rowlands Storage Systems Ltd., Berkshire Hathaway Inc., Chief Industries Inc., CST Industries Inc., Henan Haokebang Machinery Equipment Co. Ltd., Kepler Weber SA, Kotzur Pty. Ltd., Mysilo Grain Storage Systems Inc. Co., Nelson Silos, P W Metallbau GmbH and Co. KG, Rostfrei Steels Pvt. Ltd., Satake Corp., Sioux Steel Co., Sukup Manufacturing Co., Superior Manufacturing LLC, Symaga SA, and Silos Cordoba SL |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. You may change your settings based on a legitimate interest at any time, by selecting “Manage Settings” on our site. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.