U.S. Moving Market was estimated at USD XX in 2021 and is poised to register gains at over 4% CAGR between 2022 and 2032.
Moving services are primarily driven by real estate agencies in the US. Due to the housing market recovery in the US during the last decade, relocation services have seen a significant increase in demand. Existing home sales have increased by $4.45 billion to $5.56 billion over the past few years. This growth has been driven by job growth and an increase in hiring rates. During the forecast period, the housing market is expected to grow moderately to rapidly. Increasing buyer interest, better credit rates, and an overabundance of sales will drive the relocation services market. As a result of affordable housing loans, buyers are investing in homes, which will increase the US real estate market. An increase in buyer interest, low mortgage rates, and population growth are further driving the demand for available housing.
In the US, the high costs of relocation services will pose a major challenge for the moving services market during the forecast period. Relocation, whether it is residential or corporate, is very expensive. An operator who specializes in relocation will cost even more. Relocation services provide estimates of relocation costs, but the actual costs at the end are always 35-40% higher. Furthermore, damage to equipment/personal belongings incurs additional costs. Specifically, this is a concern for corporations as any damage caused to the building during relocation will increase their lease payments. Clients estimate that the cost of moving between states is around USD4,000-USD4,800, and that the cost of moving interstate is around USD800-USD900. However, moving interstate between states comes in around USD5,300-USD6,000, which is approximately 35% more than the estimated costs of Digital Banking Reaches New Level of Maturity in APAC post COVID-19.
Corporate relocation is a major driver of moving services in the US.
The US moving services market by corporate segment is expected to grow at a CAGR of more than 4% over the forecast period. The growing number of short-term assignments both within the country and internationally is driving the relocation market in the United States. Businesses relocate about 10-12 employees each year on average. Relocation costs per person can range from USD 22,000 to USD 80,000, depending on the location and duration of the assignment. Businesses are partnering with relocation services to avoid this. These services offer packages at lower costs and provide full services, which are either fully or partially refunded to employees depending on the policies of their companies.
Residential Moving services are all set to drive the US moving market in revenue.
The residential moving services market in the US is forecast to grow more than 3% during the forecast period. In recent years, the number of house renters has greatly increased due to a decrease in home sales. Rising home prices are a major reason for people moving from expensive cities, such as California, Arizona, and Colorado, to less expensive ones, such as Texas, Massachusetts, and North Carolina.
Military and government sector is also supporting the market growth.
On an average, every year, the US military moves over 650,000 personnel from one location to another. Many companies offer full-service relocation assistance to military personnel as part of government relocation programs. The government, however, sets a weight limit for baggage depending on rank and family status.
Company
Years considered for this report
• Historical Years: Available on Request
• Base Year: 2021
• Forecast Period: 2022-2032
U.S. Moving Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue (2022 – 2032)
• Data breakdown for application Industries (2022 – 2032)
• Integration and collaboration analysis of companies
• Capacity analysis with application sector breakdown
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategies adopted by emerging companies
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2032)
• Full-service Moving
• Partial Service Moving
End-Use Analysis (Revenue, USD Million, 2022 - 2032)
• Residential
• Corporate
• Military And Government
• Others
U.S. Moving Market Companies:
• AGS Worldwide Movers
• ArcBest Corp.
• Armstrong Relocation and Companies
• Arpin Van Lines
• Atlas World Group Inc.
• Beltmann Relocation Group
• Coleman World Group
• UniGroup CA
• U-Pack
• Wheaton World Wide Moving
Alternative market terms: Moving Services Market in U.S.
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