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. Get sample copy at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=74819 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.