Grain Bins Market Record Stellar CAGR During Forecast Period

Introduction

• Grain bins are a bulk grain storage facility that helps to maintain grain in a dry and undamaged state. It is generally used to protect the stock of grain for animal feed, human consumption, or fuel.
• Grains bins are available in a wide range of heights and diameters that typically have staircases or ladders on the outside.
• Traders of prominent agriculture goods spend millions of dollars to upgrade their export terminals as the demand for grains is rising sharply across the globe.
• Increase in disposable income of farmers that influences them to opt for modern grain storage facilities is likely to boost the growth of the grain bins market across the globe.
• Increase in government initiatives to build storage facilities to prevent wastage of agriculture products, and continuous growth in production and export of grains across the globe is likely to drive the grain bins market.

Increasing Investments in the Agro-food Sector

• Increasing investments in the agro-food sector across the globe owing to robust demand, abundant supplies, and competitive prices have spurred the demand for grain bins. Traders of agricultural products spend large amounts to upgrade their export terminal facilities owing to increasing production of grains and its supply across the globe. Rise in demand for advanced technologies, growth in investment of bulk handling of the grain in storage facilities, and government initiatives to set up advanced storage facilities is expected to drive the global grain bins market.

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High Initial Investments

• High initial investment to build high capacity machines and systems of grain bins is expected to be a major restraint of the market. The risk associated with the handling and distribution of grains due to external and internal environment conditions may also hinder the growth of the grain bins market. In addition, presence of several alternate solutions for storage of grains such as warehouses, silos, and conventional storage methods is also likely to hamper the growth of the grain bins market.

Asia Pacific a potential market for grain bins

• The global grain bins market can be divided into five regions: 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 grain bins market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, the market in Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the grain bins market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The grain bins market in South America is segmented into Brazil and Rest of South America.
• Asia Pacific is expected to remain a potential market for grain bins owing to rapid growth in the production and supply of grains. In addition, rising government initiatives to build modern storage facilities for grains is likely to promote the growth of the grain bins market globally.

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