Industry Market Research Report
Moving forward: The industry will benefit from rising home sales and housing startsThe Moving Services industry has continued to grow over the five years to 2019 as the housing market registered strong and steady growth during the same time period. Furthermore, a steady economic expansion has led to consistent demand from the industry’s downstream com… EXPANDINDUSTRY INSIGHTSTABLE OF CONTENTS
How is the Industry Trending in the US?
Over the past five years, the Moving Services in the US industry has grown by 0.6% to reach revenue of $18bn in 2019. In the same timeframe, the number of businesses has grown by 1.7% and the number of employees has grown by 1.6%.Industry Revenue
|Feb 1, 2014||0.071|
|Feb 1, 2015||0.035|
|Feb 1, 2016||0.004|
|Feb 1, 2017||-0.001|
|Feb 1, 2018||0.045|
|Feb 1, 2019||0.036|
|Feb 1, 2020||0|
|Feb 1, 2021||0|
|Feb 1, 2022||0|
|Feb 1, 2023||0|
|Feb 1, 2024||0|
Total Revenue in 2019
$18bnNumber of Businesses
16,927Average Company Profit Margin
Annual Growth 2014-2019
0.6%Industry Forecast 2019 – 2024
110,782Metropolitan areas are expected to continue to be the most active areas for moving services
Market Share in the US
The companies holding the largest market share in the Moving Services in the US industry include UniGroup Inc. and SIRVA Inc.UniGroup Inc.
Both existing home sales and housing starts have grown consistently
What Products & Services Make Up This Industry in the US?
The Moving Services in the US industry consists of Residential moving, commercial moving, warehousing services and other.
Industry SWOT Analysis
The industry is exposed to the following threats and opportunities:
- The 30-year conventional mortgage is the most common type of loan for home purchases. When mortgage rates are low, consumers can obtain loans to purchase homes at more affordable rates. As consumers purchase homes, demand for moving services will grow, bolstering industry revenue. The 30-year conventional mortgage rate is expected to increase in 2019, and could pose a potential threat to the industry.
- Existing home sales measure the sales of residential property. When existing home sales increase, homeowners require this industry’s services to move into new homes. As a result, industry revenue increases when existing home sales grow. In 2019, existing home sales are expected to increase, representing a potential opportunity for this industry.