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2024 U.S. Industry Statistics & Market Forecast - Moving Services
Market Size & Industry Statistics
The total U.S. industry market size for Moving Services:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Moving Services industry include:- Rising demand for eco-friendly moving options
- Increased reliance on technology for booking and managing moves
- Growing popularity of temporary storage solutions
- Higher expectations for customer service and transparency
- Expansion of services to include packing, unpacking, and setup
- Shift towards fixed-price offerings instead of hourly rates
- Integration of AI and machine learning for route and logistics optimization
- Increase in remote work leading to different moving patterns
- Greater emphasis on international relocation services
- Challenges related to regulations and licensing across different regions
- Use of robotic process automation for repetitive tasks
- Rise in demand for insurance and valuation coverage services
- COVID-19 pandemic effects on operational capacity and safety protocols
- Growing importance of online reviews and social proof
- Expansion into niche markets such as senior or specialty item moving services
Product & Services Breakdown
Research products and services in the Moving Services industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Moving Services |
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Moving Of Other Goods Requiring Special Handling |
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Commercial Moving Services |
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Residential Moving Services |
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Transportation Of Boxed, Palletized And Other Packed Goods, Not Climate-Controlled And Not In Intermodal Containers, By Road, Tr |
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Warehousing Services |
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Handling Services For Goods |
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Storage Services For Goods |
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Packing Services For Goods |
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Other Products |
|||
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
|
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Moving Services company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Moving Services industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Moving Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
|
| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 4% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 3% | |||
| Office and Administrative Support Occupations | 11% | |||
| Transportation and Material Moving Occupations | 75% | |||
| Motor Vehicle Operators | 63% | |||
| Driver/Sales Workers and Truck Drivers | 63% | |||
| Heavy and Tractor-Trailer Truck Drivers | 58% | |||
| Material Moving Workers | 9% | |||
| Laborers and Material Movers | 8% | |||
| Laborers and Freight, Stock, and Material Movers, Hand | 7% | |||
Moving Services Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Moving Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Moving Services industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Moving Services industry. |
Source:
Innovation News
- Jan 05, 2024: Arpin International Group trademarks "ARPIN" - Moving and storage of goods; moving company services; storage of goods; transport of goods by truck, ocean and air; transport services
- Sep 22, 2023: Isaac's Moving & Storage trademarks "ISAAC'S MOVING & STORAGE" - Moving and storage of goods; Moving company services; Packing, crating and warehousing services
- Aug 25, 2023: Stairhopper Movers trademarks "STAIRHOPPER MOVERS" - Moving company services
- Apr 09, 2019: M J Holdings raises $8 million in funding.
- Apr 10, 2014: M J Holdings raises $2 million in funding.
Recent Federal Contracts for Moving Services
- Apr 02, 2024: IO ENVIRONMENTAL AND INFRASTRUCTURE INCORPORATED (San Diego, CA) awarded $35,000
- Apr 02, 2024: BIALEK CORPORATION OF MARYLAND (Rockville, MD) awarded $12,829
- Apr 02, 2024: AMERICAN RELOCATION CONNECTIONS LLC (Fairfax, VA) awarded $48,366
- Apr 01, 2024: MIKE'S MOVING SOLUTIONS LLC (West Hills, CA) awarded $6,725
- Apr 01, 2024: ELOCEN GLOBAL TECHNOLOGY, LLC (Lanham, MD) awarded $114,894
- Mar 29, 2024: B&M CONSTRUCTION, INC. (Colorado Springs, CO) awarded $1,263,061
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