DUBLIN, August 05, 2021--(BUSINESS WIRE)--The "Grain Silo and Storage Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The grain silo and storage market is expected to grow at a compound annual growth rate of 5.14% over the forecast period to reach a market size of US$1,683.316 million in 2026 from US$1,185.20 million in 2019.
Globel grain Storage Engineering Co. Ltd.
Mysilo Grain Storage Co. Inc.
Anyang Flyer Steel Silo
Bentall Rowlands Silo Storage Ltd.
Superior Grain Equipment
SCAFCO Grain Systems co.
Silo is a structure where materials are stored, in huge amounts, before they are made available in the market. Post-harvest, grains are stored in silos for long period, without spoilage. Silos have many gates from top to bottom and facilitate aeration and acid arrangements, as required for grains.
Further, the presence of lactic acid and fermented carbs helps reduce spoilage of grains and fermentation. Storage is an integral and crucial activity since it prevents grain damage. Both, abiotic and biotic factors may destruct grains, resulting in low or unfit yield for human consumption and loss in revenue. Improper temperature and high moisture content may spoil the grains, especially those requiring a dry environment. Biotic factors such as mites, birds, rodents, insect infusion, and enzymatic actions further destruct the grain if left uncovered or stored improperly. The rising world population would lead to rising in demand for food. As per FAO, the World's population will reach 9 billion by end of 2050, increasing the demand for food and other products. Further, growing urbanization has decreased arable land. These factors signify the importance of grain preservice and proper storage.
Evidence of construction and usage of silos were found in the 8th century BC ancient Greece where grains were stored in pits. In Asia as well, closed earthen pots, known as Silo pits were used to store a small number of grains. The modern silo, used to store large quantities, was first constructed in 1873 in America when an American farmer constructed a rectangular-shaped silo. However, the structure didn't succeed owing to its shape, which raised concern when thoroughly filled. With time, cylindrical-shaped silos gained fame and succeeded the market.
North American Region has a significant share of the market
The North American region dominates the market, owing to its state-of-art infrastructure and financial well of farmers. Moreover, the rising adoption of technology in the farming and agriculture industry is another prime reason behind the surge in growth. Further, robust production as a result of increased yield will boost the demand for safe storage such as grain silos.
The Asia Pacific region as well is estimated to show significant growth, though the area is severely constrained by financial requirements. Small and medium farmers dominate the region, and cannot afford huge investments in technology. Thought governments of the area are undertaking considerable steps to promote the construction of Silos. The government of India, for instance, removed the mandatory requirement for railway connectivity near the storehouse in January 2020. The government plans to incorporate a hub-and-spoke system with the help of a Public-Private Partnership. Using this system, the government succeeded in the construction of 1.25 lakh tones of silos and plans further increase the potential.
Covid pandemic and Grain Silo and Storage industry.
The coronavirus pandemic had a positive effect on the Grain Silo and Storage industry. Due to a nationwide shutdown, supply channels were severely disturbed, resulting in a huge piling of stocks. The fear of spoilage and loss of revenue increased the demand for safe and convenient storage systems.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Grain Silo and Storage Market, by Type
6. Grain Silo and Storage Market, by Material
7. Grain Silo and Storage Market, by Geography
8. Competitive Environment and Analysis
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/mawoev
View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005650/en/
Laura Wood, Senior Press Manager
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