Moving Industry Market Size
In the United States, the market size of the moving industry was $378 million in 2018. The estimated 2019 market size is $389.3 million. There are currently 7,000 moving companies in the US operating within the industry and 47.8% of them are small-sized (less than 5 employees).
THE MOVING INDUSTRY
Market Size and Annual Growth Rate
- The moving industry revenue totals $12.6 billion annually.
- Local and long distance move accounted for 69.6% ($8,769,600,000), storage and warehousing accounted for 20.2% ($2,545,200,000), packing and packaging accounted for 7.5%, and other related services accounted for 2.7%.
- According to Verified Movers, "the moving industry has reported a growth rate of almost 3%".
- The 2018 market size of the US moving industry was $378 million.
- The 2019 market size of the US moving industry is estimated to be $389.3 million.
Number of Moving Companies Operating in the US
- There are 7,000 moving companies in the US, according to the American Moving & Storage Association.
- 47.8% of these 7000 moving companies, which corresponds to 3,346 companies, don’t employ more than five employees. Therefore, they are mostly small-sized companies.
Other Relevant Facts
- Currently, there are approximately 122,600 people working in this industry in the US.
- The top five cities for local moves in 2018 were Atlanta, Houston, Chicago, Brooklyn, and Los Angeles.
- UniGroup Inc. and SIRVA Inc. hold the largest market share in the industry.
- More than 35 million Americans change locations every year.
- The five busiest move routes are California-Texas, New York-Florida, California-Washington, California-Arizona, and New York-California.
YOUR RESEARCH TEAM APPLIED THE FOLLOWING STRATEGY:
1. 2018 Market Size:
- 12,600,000,000 (the industry revenue) x 3% (the annual growth rate) = 378,000,000.
2. 2019 Market Size:
- 378,000,000 x 0.03 = 11,340,000
- 378,000,000 + 11,340,000 = 389,340,000 or 389.34