Grain Storage Silo Market - Growth, Trends, COVID-19 Impact, And Forecasts 2021 - 2026

Overview of the Market

During the forecast period, the Grain Storage Silo Market is expected to grow at a CAGR of 4.5 percent (2021-2026). Despite the fact that COVID-19 had an impact on the silos industry, it had no significant impact on the silos supply chain or worldwide operations. The grain storage silos market was less affected by the epidemic since food and agriculture services were spared from shutdown restrictions. North America accounted for the highest proportion of the Grain Storage Silo Market in 2019 among all the regions studied. Due to limited space and growing storage costs around the world, there is a huge demand for more storage capacity, which has fueled industry expansion. Grain storage silos have a high level of concentration, with a few major firms such as Rostfrei Steels, Titan (FB Industries Inc.), Superior Silo LLC, and Sioux Steel Company, among others, dominating the market.

The Report's Scope

The Grain Storage Silo Market is a vital part of the grain storage facility business, as it helps to ensure that agricultural output is available when it is needed. When land is limited and storage prices are high, silos are a cost-effective manner of storage in the long run. They also take up less ground space. During the projected period, the storage grain silos market is expected to rise at a rapid pace. Type (steel silos, metal silos, and other types), product (flat bottom silos, hopper bottom silos, feed hoppers, and other items), and region are all used to segment the market (North America, Europe, Asia-Pacific, South America, and Africa).

Demand for large-capacity, cost-effective grain storage is growing.

During the research period, the grain storage silos sector was driven by the expanding demand for grain storage from the world's main grain-producing countries, such as the United States, Russia, India, Brazil, and others. Furthermore, growing input costs and the requirement for large investments in grain storage have increased demand for silos in all regions. According to the International Grains Council (IGC), worldwide wheat stocks climbed from 171.0 million metric tonnes in 2012-2013 to 268.0 million metric tonnes in 2017-2018, and 278.0 million metric tonnes in 2020.