The moving industry in the United States is a significant sector with various statistics and indicators reflecting its size and impact.
Industry Size and Employment
- The moving industry employs over 122,600 people nationwide, with a yearly payroll of $3.6 billion.
- There are approximately 8,000-10,000 professional moving companies in the U.S., generating about $12 billion in revenue annually.
- Around 40 million moves take place each year in the United States.
Market Trends and Business Landscape
- Growth in the management sector has stalled, affecting new enterprises and their products.
- Modernizing a business is crucial for staying competitive and driving industry evolution.
Moving Industry Statistics for 2023
- In 2023, the industry employs over 122,600 people with a $3.6 billion annual payroll.
- There are about 40 million moves annually in the U.S.
- The self-storage industry is closely tied to the moving sector, with various interdependencies.
Trucking Companies and Industry Impact
- UPS is the largest trucking company in revenue globally, operating in over 200 countries with a significant staff strength.
- FedEx follows as the second largest trucking company, also making a substantial revenue.
Consumer Behavior and Trends
- Types of moves are expected to change in 2023, with shifts in local, long-distance, and metropolitan relocations.
- Virtual services and online booking have increased in popularity due to convenience and transparency.
Challenges and Scams in the Industry
- Despite most moving companies being legitimate, some have poor ratings and unresolved complaints.
- Victims of moving scams can seek support from organizations like MoveRescue.
State-specific Insights and Economic Contribution
- Arkansas has the highest moving cost among states in 2023.
- Local insights, such as the net gain of residents in Idaho, provide valuable information for companies in the moving industry.
Conclusion
The moving industry continues to exhibit growth and adaptation, with various factors influencing its trajectory and market dynamics.