Silos Market Size to Reach USD 252.8 million by 2031, Growing at 3.4% CAGR - Report By Transparency Market Research, Inc.

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Dec 07, 2023, 10:01 ET

Increasing demand for tailor-made silo solutions to accommodate specific storage requirements drives market diversification.

WILMINGTON, Del., Dec. 7, 2023 /PRNewswire/ -- The global silos market is estimated to flourish at a CAGR of 3.4% from 2023 to 2031. According to Transparency Market Research, demand for silos is slated to total US$ 252.8 million by the end of the aforementioned period of assessment.

Changing consumer preferences and dietary habits influence market growth, driving the need for specialized silos catering to niche agricultural products and their storage requirements. Emerging economies' rapid urbanization fuels demand for bulk storage solutions, influencing the silos market expansion in the construction, mining, and cement industries.

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Silos Market Report Scope:

Report Coverage	Details
Forecast Period	2023-2031
Base Year	2022
Size in 2022	US$ 188.9 Mn
Forecast (Value) in 2031	US$ 252.8 Mn
Growth Rate (CAGR)	3.4
No. of Pages	150 Pages
Segments covered	By Type, By Material, By Capacity, By Distribution Channel

Evolving logistics and supply chain dynamics induce a shift towards larger-capacity silos, ensuring efficient material handling and reducing transportation costs. The rise of collaborative farming models amplifies the need for shared or communal silos, fostering cooperative storage systems in rural areas. Advancements in silo monitoring and predictive maintenance technologies remain under the radar but are crucial, enabling proactive upkeep and minimizing downtime.

Key Findings of the Market Report

· Tower silos lead the silos market, offering efficient vertical storage for grains and silage, optimizing space and facilitating controlled fermentation.

· Concrete staves dominate the silos market due to durability, versatility, and suitability for various industries requiring robust storage solutions.

· 500 tons-1000 tons capacity silos lead the market, offering a balance between storage volume, versatility, and operational efficiency.

Silos Market Growth Drivers & Trends

· Adoption of automated systems for grain handling and storage streamlines operations, enhancing efficiency and reducing labor costs within the silos market.

· Rising population and food demand drive the need for increased grain storage solutions, boosting the silos market.

· Innovations in silo design, materials, and safety features improve storage capacities, durability, and sustainability, driving market growth.

· Emphasis on sustainable farming practices encourages the adoption of environmentally friendly and energy-efficient silo solutions, fostering market expansion.

· The expansion of silo applications beyond agriculture into industries like cement, mining, and chemical storage contributes to market diversification and growth.

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Global Silos Market: Regional Profile

The silos market in North America experiences steady growth driven by agriculture and the food industry. Companies like CST Industries and Hanson Silo Company lead with a focus on farm silos and storage solutions. Advanced technologies and a push for automated grain handling systems further fuel market expansion.

Europe's silos market is robust, led by companies such as Silos Córdoba and Bentall Rowlands. The region emphasizes sustainable agriculture practices, propelling demand for grain silos and storage systems. Stricter regulations regarding food safety enhance the adoption of modern silo technologies and a shift towards larger-capacity silos.

Asia Pacific witnesses substantial growth in the silos market, led by TSC Silos and Hao Yu Precision Machinery Industry. The agricultural boom and rising food demand in countries like China and India drive market dynamics. Increased investment in bulk storage solutions for grains and feed storage amplifies market growth, catering to the region's expanding agricultural sector.

Silos Market: Competitive Landscape

The silos market exhibits a competitive landscape with key players such as CST Industries, Silos Córdoba, and TSC Silos leading the global arena. Established companies focus on product innovation, offering a wide range of silo types, sizes, and materials to cater to diverse industry needs.

Emerging contenders like Ag Growth International and Hanson Silo Company intensify competition, emphasizing technological advancements and customization.

Partnerships, mergers, and acquisitions characterize the market strategy, fostering expansion and enhancing geographical presence. Regional players contribute niche expertise, contributing to the dynamic competition and innovation within the silos market.

Some prominent manufacturers are as follows:

· BM Silo ApS

· Betonstar

· Conair Group

· GEA Group Aktiengesellschaft

· Kreyenborg GmbH & Co. KG

· Moretto S.p.A.

· P+W Metallbau GmbH & Co. KG

· Paul Mueller Company

· PNEUCON Heavy Projects Pvt.

· Technosilos AP

· Wabash National Corporation

Product Portfolio

· BM Silo ApS offers a diverse range of high-quality silos and conveying systems for storing and handling granular materials. Their product lineup includes flexible silo solutions, giving equipment, and accessories, catering to agricultural, industrial, and commercial applications worldwide.

· Betonstar specializes in innovative concrete transportation solutions, providing a portfolio of concrete mixer trucks, pumps, and related accessories. Their offerings focus on durability, efficiency, and advanced features, meeting the demands of the construction industry with reliable equipment.

· Conair Group delivers a comprehensive suite of plastics processing equipment and systems. Their product portfolio comprises resin drying systems, blenders, material storage, and conveying solutions, serving diverse industries with reliable, high-performance equipment for efficient plastic material handling.

Silos Market: Key Segments

By Type

· Tower Silos

· Bunker Silos

· Bag Silos

By Material

· Wood Staves

· Concrete Staves

· Steel Panels

· Aluminum

By Capacity

· Below 500 Tons

· 500 Tons-1000 Tons

· 1000 Tons-1500 Tons

· Above 1500 Tons

By End Use Industry

· Food & Beverage Industry

· Agriculture Industry

· Chemical Industry

· Tire Industry

· Others (Plastic Industry, Cement Industry, etc.)

By Distribution Channel

· Direct Sales

· Indirect Sales

By Region

· North America

· Europe

· Asia Pacific

· Middle East & Africa

· South America

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