Silos Market: Introduction
A silo is a structure for the storage of bulk materials. Silos are used in agriculture to store grain or fermented feed known as silage. Silos are mainly used for bulk storage of grain, cement, food products, coal, carbon black, woodchips, pellets, animal feed, and sawdust etc. Three types of silos are mostly used: bunker silos, tower silos, and bag silos. Silos need to be manufactured under various standards and regulations and are constructed from stainless steel or reinforced concrete.
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Key Drivers of the Global Silos Market
- Increasing population is one of the major factors driving the growth of food production around the world, which increases the usage of advanced agricultural products. Rising demand for grain storage from grain producing countries, mainly, the U.S., India, Russia, Brazil, and others have driven the grain storage silos market. Moreover, increasing input costs and the need for heavy investment for the storage of grains leads to the rise in demand for silos across all regions. These factors are contributing to the growth of the silos market globally.
- Increasing construction activities boosts the usage of silos. Cement is the main product used in all construction activities. Large amount of cement is used at construction sites of various industries such as oil & gas, petrochemicals, historical sites, and residential construction. Silos are used to store industrial material such as calcite, petrochemical materials, medicinal materials, minerals, pills, capsules, soda, perfumery chemicals, ash, coal, coal powder, plaster, glass powder, perlite, plastic, marble powder, granules, polyethylene, wood shavings, and activated carbon. The need for bulk storage has also increased, which drives the global silos market.
Factor Restraining the Global Silos Market
Large capital investment is required initially that may restrict small and medium scale companies from investing in silos, thus hindering the market growth in developing countries.
Market in Asia Pacific to Expand Rapidly
- In terms of region, the global silos market can be divided into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the silos market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the silos market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America silos market is segmented into Brazil, and Rest of South America.
- North America accounted for largest share of the global silos market due to the presence of large producers of corn, wheat, and soy, which is driving the demand for food grains storage in the region. Countries such as Canada and the U.S. are major contributors to the growth of the silos market in North America.
- The silos market in Asia Pacific is projected to expand rapidly during the forecast period due to the increasing food productivity in the region. Asia is the most populated region globally, which faces issues of food shortage that leads to increase in food production. China and India are majorly agriculture-based countries, and storage of food grains is a major concern which influences spending on storage products. This is expected to expand the silos market in the Asia Pacific region.
Key Players Operating in the Global Market
Manufacturers in the silos market are focusing on becoming more proficient and developing advanced products which will enhance their competitive advantage and market share globally. The companies are concentrating on generating public awareness about their existing and new products & technologies. Moreover, they are strategizing on collaborations and partnerships to compete with the product portfolio of competitors.
A few of the key players operating in the global silos market are:
- A.B.S. Silo- und Förderanlagen GmbH
- BM Silo
- Bühler
- Fowler Westrup (India) Pvt. Limited
- Mysilo Group
- PRADO SILOS
- Rostfreisteels
- Silos Córdoba
- Symaga
- Wabash National Corporation
Global Silos Market: Research Scope
Global Silos Market, by Type
- Flat Bottom Silos
- Hopper Silos
- Delivery Silos
- Others (Feed Silos, etc.)
Global Silos Market, by Material
- Stainless Steel
- Reinforced Concrete
- Others (Wooden, etc.)
Global Silos Market, by End-use
- Agriculture
- Food & Beverage
- Cement
The report on the global silos market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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