Grain Elevator Market Size To Grow At A CAGR Of 5.50% In The Forecast Period Of 2023-2028
The versatility of grain elevators across different agricultural operations also aids in grain elevator market expansion.
Grain Elevator Market Outlook
According to the report by Expert Market Research (EMR), the global grain elevator market share, is projected to grow at a CAGR of 5.50% between 2023 and 2028. Aided by the growing expansion of the agriculture sector and rising standards of living across the emerging economies, the market is expected to grow significantly by 2028
Grain elevators, primarily used for the vertical transport of bulk grains, play a crucial role in agricultural logistics. They streamline the process of storing, sorting, and moving grain from farms to various end-use sectors, such as food production, feed manufacturing, and biofuel plants. This machinery is a key element in the overall grain value chain, offering a solution to manage and preserve the quality of harvested grain.
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The global grain elevator market growth is being driven by an increasing demand for efficient grain storage and transportation systems. With a growing global population, the need for large-scale food production and distribution has become a significant concern. Grain elevators provide an efficient means to handle and store large volumes of grain, thereby supporting the critical objective of feeding the expanding population.
Moreover, the advent of technological advancements in the agricultural sector has significantly contributed to the growing popularity of grain elevators, thus propelling the grain elevator market growth. Modern grain elevators employ digital technologies, including automation and data analytics, to enhance operational efficiencies, track storage conditions, and optimise the grain handling process. This has further propelled the demand for these elevators in the global market.
The versatility of grain elevators across different agricultural operations also aids in grain elevator market expansion. They are not only vital for large-scale commercial farming but also offer substantial benefits to small-scale farmers by reducing post-harvest losses, enhancing grain quality, and ultimately, increasing overall farm profitability. This multi-faceted application scope substantially bolsters the grain elevator market.
Furthermore, the rising trend of mechanisation in agriculture acts as a significant booster for the grain elevator market development. As farmers increasingly adopt modern equipment to increase productivity and reduce labour costs, the utilisation of grain elevators has become more prevalent.
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Finally, the ongoing push for biofuel production worldwide is also contributing to the grain elevator market expansion. As the demand for biofuels, primarily derived from grain crops, continues to rise, the need for efficient grain handling and storage solutions like grain elevators also increases.
Grain Elevator Market Segmentation
The market can be divided based on product type, storage capacity, grain, application, and region.
Market Breakup by Product Type
- Flat Bottom
- Hopper Bottom
- Conical
- Others
Market Breakup by Storage Capacity
- Up to 50,000 Tonnes
- 51,000 – 150,000 Tonnes
- 151,000 – 300,000 Tonnes
- Others
Market Breakup by Grain
- Rice
- Wheat
- Pulses
- Oil Seeds
- Maize and Coarse Grain
- Others
Market Breakup by Application
- Residential
- Commercial
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global grain elevator companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Allied Grain Systems
- AGI Brasil
- Zen-Noh Grain Corp
- JV Dan
- T&S Sales
- Bunge North America
- Wuhan Wobota Machinery Co Lyd
- Yanmar Group
- SMIC
- Guangzhou Xianyi
- Shanghai Huaqing
- Harris Products
- Axend PTE Ltd
- Others
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