21 Mar, 2022, 11:00 ET
NEW YORK, March 21, 2022 /PRNewswire/ -- The moving services market in US is set to grow by USD 1.95 billion from 2019 to 2024, progressing at a CAGR of 2% during the forecast period, according to Technavio. The moving services market share growth in the US by the residential segment will be significant for revenue generation The decrease in the number of home buyers has resulted in more and more people renting outhouses. In addition, an increase in home prices is forcing people to move from expensive cities, such as California, Arizona, and Colorado, to less expensive cities like Texas, Massachusetts, and North Carolina.
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Moving Services Market in US 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our moving services market in us report covers the following areas:
- Moving Services Market in US size
- Moving Services Market in US trends
- Moving Services Market in US industry analysis
Moving Services Market in US 2020-2024: Drivers & Challenges
The key factor driving growth in the moving services market in the US is the growth in real estate agencies. The revival of the housing market from 2010 to 2016 in the US has improved the real estate scenario, which has driven the growth of relocation services in the region. The existing home sales since 2010 increased by $4.45 billion to $ 5.56 billion in 2016. This is due to strong hiring rates and job sales across the US. The overall housing market is expected to grow at a moderate to fast pace during the forecast period. The increase in buyer interest, better credit rates, and overgrowth in the number of sales will drive the market for relocation services. Through affordable housing loans, buyers are investing in houses, which will increase the real estate market in US. Low mortgage rates, population growth, and an increase in buyer interest are further driving the demand for available housing.
However, the high costs involved with relocation services will be a major challenge for the moving services market in US during the forecast period. Relocation, whether residential or corporate, costs a large amount of money. It costs, even more, when a relocation service operator is hired to do the job. Although relocation services provide an estimate for the cost of relocation, the actual cost figures at the end are always 35%-40% higher than the estimated cost. In addition, the damage of equipment/personnel belongings results in extra costs. This is particularly a concern for corporates as any damage caused to the building during relocation can increase their lease payments. The cost estimated by clients for interstate movement is around USD 800-USD900, and the cost of moving between states is around USD4,000-USD4,800. However, the average cost for moving interstate for both corporate and residential services is between USD 1,150 and USD 2,500, and the cost to move between states comes around USD5,300-USD6,000, which is approximately 35% more than the estimated cos
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Moving Services Market in US 2020-2024: Vendor Analysis
The moving services market in US is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. 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, and Wheaton World Wide Moving are some of the major market participants.
Moving Services Market in US 2020-2024: Segmentation Analysis
- Military And Government
- Full-service Moving
- Partial Service Moving
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Moving Services Market in US 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist moving services market in US growth during the next five years
- Estimation of the moving services market in US size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the moving services market in US
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of moving services market in us vendors
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Moving Services Market In US Scope
Growth momentum & CAGR
Accelerate at a CAGR of 2%
Market growth 2020-2024
USD 1.95 billion
YoY growth (%)
Leading companies, competitive strategies, consumer engagement scope
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, and Wheaton World Wide Moving
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,
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Table Of Contents :
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End user
- Residential - Market size and forecast 2019-2024
- Corporate - Market size and forecast 2019-2024
- Military and government - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End user
Market Segmentation by Type
- Market segments
- Comparison by Type
- Full-service moving - Market size and forecast 2019-2024
- Partial-service moving - Market size and forecast 2019-2024
- Market opportunity by Type
- Market drivers
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- AGS Worldwide Movers
- ArcBest Corp.
- Armstrong Relocation and Companies
- Arpin Van Lines
- Atlas World Group Inc.
- Beltmann Relocation Group
- Coleman World Group
- UniGroup CA
- Wheaton World Wide Moving
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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