NEW YORK , Nov. 6, 2023 /PRNewswire/ — The US – Moving Services Market size is expected to grow by USD 3.92 billion, accelerating at a CAGR of 3.68% during the forecast period, according to the Technavio’s market analysis. The growth of the real estate market, particularly driven by the US housing market recovery, is a significant factor boosting the market for relocation services. The housing sector is expected to experience moderate to rapid growth due to strong employment trends and increased home sales across the US. This growth is further fueled by rising buyer interest, favorable credit rates, and increased transactions. The market is segmented by End-user (Residential, Corporate, Military and government, and Others), Type (Full-service moving and Partial-service moving), and Geography (North America). The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample
Technavio has announced its latest market research report titled Moving Services Market in US 2023-2027
US – Moving Services Market 2023 – 2027: Key Highlights:
The report recognizes the following as some of the key players in the US – moving services market: AGS Worldwide Movers, Allegiance Moving and Storage, AM Moving Co., ArcBest Corp., Atlas World Group Inc., Bellhop Inc, Beltmann Relocation Group, Coleman World Group, College Hunks Hauling Junk, JK Moving Services, Legacy Moving Denver, Palmer Moving Services, Pro Movers Inc, SIRVA Worldwide Inc., The Armstrong Co., The Suddath Co, Trico Long Distance Movers, Trinity Relocation Group, UniGroup CA, and Wheaton World Wide Moving
Moving Services Market is fragmented in nature.
Market to observe 3.39% YOY growth in 2023.
US – Moving Services Market 2023 – 2027: Market Dynamics:
Trend
The market is seeing increased demand due to a rising trend in short-term assignments and business trips by US-based international companies.
Short-term assignments typically last 6 months to 1 year and are aimed at project completion and expertise acquisition.
Managing relocation for such assignments adds cost but partnering with relocation firms for services like local registrations, temporary housing, and short-term rentals helps mitigate expenses.
The growth in short-term assignments is set to boost the moving services market in the US during the forecast period.
Challenges
Employee housing challenges, particularly for expatriates, are a significant hurdle to market growth for relocation services in the US.
Relocation service operators often struggle to meet the housing demands of US expatriates, leading to a major challenge.
The primary issue is the delicate balance between housing costs and quality, as high quality often comes at a higher cost.
Additionally, upfront payments required by landlords set a challenge for both expatriates and their employing companies.
When housing costs are affordable, the quality and neighborhood may not meet expatriate expectations, further complicating the situation and potentially impeding the growth of moving services in the US during the forecast period.
The report also covers information on the upcoming trends and challenges. Explore detail information by purchasing report
US – Moving Services Market 2023 – 2027: Key Segments:
The residential segment is expected to experience substantial growth during the forecast period. This growth is driven by a decrease in homebuyers, leading to a rising trend in people opting to rent homes. Escalating housing costs are compelling individuals to relocate from expensive cities like California, Arizona, and Colorado to more affordable alternatives such as Texas, Massachusetts, and North Carolina.
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Related Reports:
Self-storage and Moving Services Market: The self-storage and moving services market share are expected to increase by USD 18.29 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.08%.
Automated Material Handling (AMH) Market: The automated material handling (AMH) market size is estimated to grow by USD 37.47 billion accelerating at a CAGR of 12.47% between 2023 and 2027.
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Moving Services Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.68% |
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Market growth 2023-2027 |
USD 3.92 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
3.39 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
TOC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-User
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.
Contacts
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
