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Nov 05, 2023

Grain Silos and Storage System Global Market Report 2023

Major players in the grain silos and storage system market are AGCO Corporation, AGI Inc., Behlen Mfg. Co., Bentall Rowlands Storage Systems Ltd., Brock Grain Systems (CTB Inc.), Dehsetiler Machinery

Major players in the grain silos and storage system market are AGCO Corporation, AGI Inc., Behlen Mfg. Co., Bentall Rowlands Storage Systems Ltd., Brock Grain Systems (CTB Inc.), Dehsetiler Machinery Co.

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Grain Silos and Storage System Global Market Report 2023" - https://www.reportlinker.com/p06479756/?utm_source=GNW Ltd. (Dehsetiler Group), Hoffmann Inc., Mulmix Spa, Mysilo Tahil Depolama Sistemleri A.S., Polent SP Zoo, Prado Silos, Prive SA, SCAFCO Grain Systems Co., Silos Córdoba, and Sioux Steel Company.The global grain silos and storage system market is expected to grow from $1.50 billion in 2022 to $1.61 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The grain silos and storage system market is expected to reach $2.01 billion in 2027 at a CAGR of 5.7%.The grain silos and storage systems market consists of sales of bunkers, and synthetic silos.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Grain silos and storage systems refer to structures designed to store grain and other material in bulk or powder such as cement, calcium oxide, calcium hydroxide, activated carbon or plastic resins and others. These are used by agriculture industries to store bulk grain.North America was the largest region in the grain silos and storage system market in 2022. The regions covered in grain silos and storage systems report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of grain silos and storage systems are flat-bottom silos, hopper silos, grain bins, and others.Flat-bottom silos are a type of storage structure used in agriculture for the bulk storage of grains, oil seeds, and other agricultural products.They are utilized for storing various commodities such as rice, maize, wheat, soybeans, sunflowers, and others. They are segmented into various product types, such as steel silos and metal silos, and used in various applications, such as agriculture and commerce.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.Technology advancements are a key trend gaining popularity in the grain silos and storage system market.Major companies operating in the grain silos and storage system market are adopting new technologies to sustain their position in the market.For instance, in April 2020, Ag Growth International Inc., a Canada-based manufacturer of portable and stationary grain handling, storage, and conditioning equipment, launched SureTrack 2.0, an updated and improved agriculture business platform that integrates new management features with existing software and hardware solutions. It leverages financial and input analysis, real-time 3-D visuals, and the power of traceability to create a one-location, one-login remote farm management solution to drive both profit and efficiency to the farm.In May 2022, Sioux Steel Co., a US-based maker of grain bins, bunker walls, structures, and other agricultural equipment acquired SCAFCO Grain Systems Co. for an undisclosed amount. With this acquisition, SCAFCO Grain Systems will add a number of new items to Sioux Steel’s existing product portfolio and serve existing farmers and business owners in the region and provide greater international shipping to both firms’ vast global networks. SCAFCO Grain Systems Company is a US-based company involved in designs and manufactures grain storage bins, silos, handling equipment, and drying technology.The countries covered in the grain silos and storage systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The grain silos and storage system market research report is one of a series of new reports that provides grain silos and storage system market statistics, including grain silos and storage system industry global market size, regional shares, competitors with a grain silos and storage system market share, detailed grain silos and storage system market segments, market trends and opportunities, and any further data you may need to thrive in the grain silos and storage system industry. This grain silos and storage system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06479756/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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