Global Grain Storage Silos Market Poised for Steady Growth, Tipped to Reach $1.92 Billion at a CAGR of 5.0% by 2028

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How Is the Global Grain Storage Silos Market Evolving?
The grain storage silos market size has displayed a steady growth curve in recent years. The market is set to grow from $1.51 billion in 2023 to $1.58 billion in 2024, reflecting a compound annual growth rate CAGR of 4.9%. This growth in the historic period can be attributed to factors like expansion of the animal feed industry, shift towards sustainable farming practices, increased supply chain efficiency, ascending export activities, and growing awareness of food waste.

Market forecast: What lies ahead for the grain storage silos market?
The grain storage silos market size is geared towards significant growth in the forthcoming years. Projections indicate a growth to $1.92 billion in 2028 at a compound annual growth rate CAGR of 5.0%. The growth anticipated in the forecast period derives from various propellants including rising global demand for grains, escalating agricultural production, supportive government initiatives and subsidies, growth in agribusiness investments, and mounting concerns over food security. Major trends shaping the forecast period include technological advancements in storage solutions, adoption of smart silos, transition towards vertical storage systems, advances in grain drying technology, and improved silo management software.

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Driving forces: Who or what is boosting the growth of the grain storage silos market?
Rising agricultural productivity is a significant catalyst propelling the grain storage silos market. Agricultural productivity is on the rise thanks to advancements in technology, improved farming practices, and the adoption of high-yield crop varieties. Grain storage silos complement agricultural productivity by enabling efficient storage of harvested grains, reducing spoilage and waste, and facilitating better management of supply and demand throughout the year.

Major companies operating in the grain storage silos market include 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.

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What are the new trends in the grain storage silos market?
Companies in the grain storage silos market are introducing technologically advanced solutions such as grain monitoring systems providing real-time data on crucial parameters to maintain their competitive edge. For instance, in April 2024, Embratel, a Brazil-based digital solutions company, launched Smart Silo - a cutting-edge solution for grain storage monitoring integrating Internet of Things IoT technology, big data, and artificial intelligence AI to optimize environmental conditions and assure quality of stored grains.

Demystifying the segmentation of the grain storage silos market:
The grain storage silos market scrutanized in this report is segmented as follows:
1 By Product Type: Flat Bottom Silos, Hopper Silos, Grains Bins, Other Product Types
2 By Capacity: Below 50 Tons, 50-300 Tons, 301-1000 Tons, Above 1000 Tons
3 By Application: Farm, Large Ports, Food Industry, Other Applications

Regional Perspectives: Which regions are leading the grain storage silos market?
In 2023, North America was the largest region in terms of market share in the grain storage silos market. Asia-Pacific is projected as the fastest-growing region in the forecast period. The regions evaluated in the grain storage silos market report involve Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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