According to the research report titled ‘Global Grain Storage Silos market Size study, by Type (Steel Silos, Metal Silos, Others), by Product (Flat Bottom Silos, Hopper Bottom Silos, Feed Hoppers, Farm Silos), and Regional Forecasts 2021-2027’, available with Market Study Report, global grain storage silos market was worth USD 1.3 billion in 2020 and is expected to register 4.8% CAGR over 2021-2027 to reach a valuation of USD 1.8 billion by the forecast period end.
 

Factors such as surging product demand from leading grain-producing nations, increasing investments by farmers in developed and emerging economies, and escalating input prices are catalyzing the growth of global grain storage silos market.
 

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Moreover, cost-effectiveness and high holding capacity of grain storage silos as well as various governmental initiatives are also augmenting the industry growth.
 

As per statistics of the International Grains Council, worldwide wheat supplies climbed from 171 metric tons in 2012-2013 to reach 268 million metric tons in 2017-2018 and 278 million metric tons in 2020.
 

For the unversed, silos are a cost-effective technique of grain storage with automated grain transport, which results in lower long-term maintenance costs. Also, silos have lesser loading and unloading costs compared to grain warehouses as automation is regulated by Supervisory Control and Data Acquisition system.
 

On the contrary, high initial investment requirement for equipment purchase and setup is likely to impede the growth of the industry over the forecast duration.
 

In terms of type, worldwide grain storage silos market is divided into metal silos, steel silos and others, whereas based on product, the business domain is classified into farm silos, feed hoppers, hopper bottom silos and flat bottom silos.
 

From a regional point of view, Latin America, North America, Europe, and Asia pacific are major contributors to industry remuneration. Among these, North America currently holds a major market share, owing to growing demand for grain storage.
 

Parallelly, Asia Pacific industry is slated to register a considerable growth rate over the projected period, creditable to rising investments towards construction of silos.   
 

Leading companies in global grain storage silos market include F.B. Industries Inc., Silos Cordoba, Hanson Silo Company, Rostfrei Steels Pvt. Ltd, P+W Metallbau GmbH & Co.KG, Ahrens Group, Sioux Steel Company,  Symaga S.A, Superior Grain Equipment and Nelson Company among others.