Your cart is empty
Industry revenue has grown consistently over the past five years, to reach a total estimated $23.2bn in 2024. That's a lot of moves!
Barriers to entry are low in the moving industry, which causes many small companies and owner-operators to become movers, boosting competition.
It is estimated that with all of the small and local mom-and-pop operators across the United States, there are over 110k employees in the moving industry.
Even with inflation on the rise, moving companies are performing relatively well in 2024.
Residential moving services are the largest segment of the greater moving industry, but residential moving is expected to slow in the near future with higher costs and elevated interest rates.
Regions near The Great Lakes and states in the south-east are the most popular places where people are moving to and from.
The Moving Industry consists of moving companies who offer moving and relocation services for clients seeking to move their items to a new destination. Moving companies cater to both residential and commercial, and handle various types of items, ranging from furniture to furnishings to clients preparing to move.
Low interest rates, a strong housing market, and a strong economy are crucial for the moving industry.
The market size is projected to increase over the next 5 years, but the total growth rate is undetermined.
Regulations regarding truckers on the road have made moving companies across the country more diligent about their practices.
Moving companies must be careful that their drivers have the correct medical prerequisites to drive, and be given enough downtime to sleep enough hours to follow federal laws.
Digital advertising spend has increased significantly in the moving industry in recent years.
Depreciation is a major expense for moving companies because of their large equipment and asset requirements.
Moving companies are labor intensive and require large payrolls to operate.
With rising fuel costs across the United States, many movers are feeling slimmer margins.
Running warehouse space or local offices add to the expense budget for many moving companies.
Having a safe and secure location to store equipment and trucks is vital for moving companies.
Many moving companies budget a portion of their profit towards reimbursements and discounts to customers who experience furniture damages during a move.
Technology is becoming an increasing importance to moving companies who are upgrading systems to support more efficient supply chains.
The market size of the Moving Industry in the United States is estimated to be $23.2bn in 2024.
Over the next five years, the Moving Industry in the United States is expected to grow, but total growth rate is undetermined.
Key drivers of the Moving Industry in the United States include home prices, home sales, and price for fuel.
Services in the moving industry include residential moving, commercial moving, warehousing services, packing services, handling services, freight transportation arrangement, and customs brokering services.
Market share concentration is low for the moving industry in the United States, with the top four companies generating just 32% of market revenue in 2024.