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NEW YORK, Sept. 18, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global
grain silos and ancillary equipment market
size is estimated to grow by USD 1.04 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost
4.95%
during the forecast period.
Increase in demand for grain storage
is driving market growth,
with a trend towards
increasing focus on galvanized grain silos. However,
constant fluctuations in raw material prices
poses a challenge. Key market players include 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., Silos Cordoba SL, Sioux Steel Co., Sukup Manufacturing Co., Superior Manufacturing LLC, and Symaga SA.
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Technavio has announced its latest market research report titled Global grain silos and ancillary equipment market 2024-2028
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| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2018 - 2022 |
| Segment Covered |
Type (Grain silos and Ancillary equipment), Application (Grain transportation and Grain storage), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) |
| Region Covered |
North America, Europe, APAC, South America, and Middle East and Africa |
| 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., Silos Cordoba SL, Sioux Steel Co., Sukup Manufacturing Co., Superior Manufacturing LLC, and Symaga SA |
Key Market Trends Fueling Growth
The global grain silos and ancillary equipment market is witnessing significant growth due to increasing awareness about food safety and quality. Galvanized grain silos, with their corrosion-resistant and reinforced properties, are becoming the preferred choice for end-users. Galvanization is a process that applies a zinc coating to steel to prevent rusting, which is crucial for grain silos to ensure long-term durability. While epoxy paint is a cost-effective alternative, it does not offer the same level of protection as galvanization. Leading manufacturers, such as Symaga, AGCO, and Ag Growth International, are responding to this trend by producing high-quality, corrosion-resistant grain silos made of galvanized or pre-lacquered steel. These silos have metal coatings that protect the inner walls and external screws from corrosion, making them up to 10 times more resistant than non-galvanized alternatives. Reinforced roofs further enhance the durability of these silos, providing up to 10 times more corrosion resistance than galvanized steel and nearly five times more than Z-600 galvanized steel. Regulations on food storage and processing methods are becoming increasingly stringent, and the need for high-quality grain silos is becoming more pressing. This trend is expected to continue, driving the growth of the global grain silos and ancillary equipment market during the forecast period.
The grain silos market is experiencing significant growth due to increasing agricultural production levels and infrastructure development in the agricultural sector. Wheat, corn, rice, barley, and other grains require efficient storage solutions to maintain quality and availability for global supply chains. Ancillary equipment like conveyors, elevators, aeration systems, temperature monitoring systems, grain dryers, and various silo types such as flat bottom and hopper bottom, play crucial roles in this process. Investment decisions in grain silos and related equipment depend on agricultural activities, global trade dynamics, and weather conditions. Advancements in technology offer functionality, efficiency, monitoring systems, automation, and data analytics with remote control capabilities. However, the significant upfront investment required can be a challenge for farmers and agricultural businesses. Geopolitical events and supply chain disruptions also impact the market. Farm consolidation and supply chain management are key factors driving the need for larger silos and advanced equipment. Financial institutions offer loans and leasing options to facilitate investment.
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Market
Challenges
Grain silos and ancillary equipment manufacturers face rising production costs due to fluctuating raw material prices, primarily for steel and aluminum. These materials account for a significant portion of the production cost. Macroeconomic factors, such as inflation, labor costs, and regulatory policy changes, influence the cost of these raw materials. In April 2022, steel and aluminum prices reached record highs compared to February 2022, compelling raw material suppliers to pass on increased costs to downstream industries. This uncertainty and supply-demand imbalance may challenge the growth of the global grain silos and ancillary equipment market during the forecast period. Manufacturers are uncertain about raw material procurement plans due to volatile raw material prices.
The Grain Silos and Ancillary Equipment Market face several challenges in the agricultural sector. Global supply chains are disrupted due to reduced manufacturing capacity caused by agricultural activities like planting and harvesting. Transportation issues and weather conditions further complicate matters. Investment decisions are influenced by global trade dynamics and growing population demands for food products. Advancements in technology offer solutions through functionality, efficiency, monitoring systems, automation, data analytics, and remote control capabilities. However, significant upfront investment is required for farmers and agricultural businesses. Geopolitical events, farm consolidation, and infrastructure constraints are also restraining factors. Financial institutions offer loans and investment opportunities, while rental services and risk management solutions provide alternatives. Insurance products and hedging strategies help mitigate risks. Supportive government policies and technological innovations continue to drive market growth. Grain Storage and Transportation remain crucial components of the market, with ongoing infrastructure developments and advancements.
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Segment Overview
This grain silos and ancillary equipment market report extensively covers market segmentation by
Type
1.1 Grain silos
1.2 Ancillary equipment
Application
2.1 Grain transportation
2.2 Grain storage
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Grain silos-
The grain silos segment in the global grain silos and ancillary equipment market is experiencing steady growth due to increasing demand from the agriculture sector and food industries. Grain silos are essential for storing large quantities of grains for extended periods, saving space compared to traditional warehouses. Grains stored in silos remain unspoiled longer, ensuring reduced grain losses for farming organizations. Grain silos provide optimum storage conditions by controlling temperature and keeping away insects and birds. Vendors benefit from the varying environmental requirements for different grains, enabling them to offer suitable silos and ancillary equipment. Technological advancements and improved distribution channels are expanding vendors' presence globally. The agricultural sector's expansion and the need for maximizing revenue per square foot are driving the demand for taller grain silos, particularly in Southeast Asian countries like Thailand and Indonesia. These factors are expected to fuel the growth of the grain silos segment in the global grain silos and ancillary equipment market during the forecast period.
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Research Analysis
The Grain Silos and Ancillary Equipment Market encompasses the production and sale of silos and related equipment used for storing grains such as wheat, corn, rice, and barley. Ancillary equipment includes conveyors, elevators, aeration systems, temperature monitoring systems, grain dryers, and various types of silos like flat bottom and hopper bottom. Agricultural production levels, infrastructure development, and global supply chains influence market growth. Manufacturing capacity expansion, agricultural activities, investment decisions, and global trade dynamics are key factors driving the market. The growing global population, changing dietary preferences, and advancements in technology are also significant influences. Functionality, efficiency, monitoring systems, automation, data analytics, and remote control capabilities are important considerations for farmers when making significant upfront investments in this equipment.
Market Research Overview
The Grain Silos and Ancillary Equipment Market encompasses the production, sale, and installation of grain storage structures and related equipment, including conveyors, elevators, aeration systems, temperature monitoring systems, grain dryers, flat bottom silos, and hopper bottom silos. This market is driven by agricultural production levels, infrastructure development, and global supply chains. Key factors influencing the market include agricultural activities such as planting and harvesting, transportation, investment decisions, global trade dynamics, and supply chain disruptions. Ancillary equipment, including conveyors, elevators, and related systems, play a crucial role in enhancing the functionality, efficiency, and monitoring capabilities of grain silos. Advancements in technology, such as automation, data analytics, and remote control capabilities, are significant upfront investments for farmers and agricultural businesses. Weather conditions, geopolitical events, farm consolidation, and supportive government policies also impact market growth. Grain transportation and grain storage are essential components of the agricultural sector, with growing global population and changing dietary preferences driving demand for food products. However, significant upfront investment, weather conditions, geopolitical events, and infrastructure constraints are among the restraining factors for the market. Financial institutions offer loans, rental services, risk management solutions, and insurance products to support investment opportunities in the Grain Silos and Ancillary Equipment Market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Grain Silos
Ancillary Equipment
Application
Grain Transportation
Grain Storage
Geography
North America
Europe
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
Website:
SOURCE Technavio
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