(Newswire.net — November 9, 2020) — Americans are among the most mobile people in the world. According to the US Census Bureau, an average American moves at least 11 times in their lifetime. People are getting more and more mobile due to availability of opportunities throughout the country. Changing residences, work, or environment has become a norm in the American culture.
Whether you are moving within the city or state, or to a new state, relocating to a new place can be a stressful and overwhelming experience. The need for professional assistance makes the moving industry an ever-growing and thriving market.
If you are planning to move any time soon or thinking about entering the moving industry, it pays to know some interesting statistics about the logistics industry. Being familiar with the moving industry statistics empowers you to make the right decisions – whether you’re just hiring a moving company or starting one.
A multi-billion market
The moving services market is valued at around $14 billion. There are around 15,650 logistics companies that cater to 40 million relocations every year. Majority of these movers relocate within the state, while the rest are inter-state migrations, and roughly 2% moved abroad.
Moving is actually very common – and something that happens everywhere, all the time. This makes the moving business an ever vibrant sector.
Having so many players is great for customers as they can find numerous options and quality service. It also ensures a competitive market and reasonable costs. Toronto movers, Torex Moving, emphasize that the demand for moving services sometimes overwhelm local providers, especially during peak season. Many people move between the months of May and September, owing to its generally favorable weather. When planning to move, it is crucial to book well ahead of time.
Local players
The moving industry consists mainly of small, local businesses. Majority of these companies employ around five to ten people, which enables them to provide more efficient and personalized services. Usually, professional movers cater to in-city or in-state moves. Although they may have limited personnel, they are fully trained and experienced, as well as, well-equipped to manage moves.
Meanwhile, large companies comprise fewer than 10% of the industry and cater to interstate shipments and relocations. In some cases, local players are tied up with a national franchise. This allows them to serve even major projects.
If you are planning to start a professional moving company, this is definitely good news. You can start with a small, manageable number of employees and grow from there.
Number of employees
With nearly 122,600 employees, the moving industry pays an annual payroll of around $3.6 billion. Since the market is composed of smaller companies, it provides employment to people across the country, including to those with limited educational background. The moving sector feeds a lot of families, which makes it an extremely vital sector.
Upward growth trend
As Americans become more mobile, the demand for professional movers continue to grow. The market is growing at almost 3% annually. Perhaps, the coronavirus pandemic put the world in a standstill and is expected to adversely impact the moving industry, the steady growth rate is expected to continue as the economy opens up. As people realize the hassle and stress of moving, consumers are increasingly becoming dependent on professional movers. Moving companies make this milestone easier and exciting.
In-state relocation
Local moves or relocations within the states are the most common. In fact, the majority of clients hire professional movers for local relocations. This doesn’t even include transferring to a new apartment within the city. While this is a prevalent trend across the country, some states tend to move around locally such as California, Texas, and Florida. These states see the most internal relocations.
The average hourly rate of local movers is at $25. The costs may vary depending on many factors, such as the time of the move, the items you are moving, the declared cost of items, and the state where you’re from. Interstate moves tend to be costlier with an average of around $4,300 per move.
There are many reasons why people move. Some relocate due to work, education, and opportunities. But a vast majority relocate to find new environments and better accommodations.
One thing is clear: relocating can be an overwhelming experience. Considering all the hassles, risks, and uncertainties, you need the help of a reliable, efficient, and proven professional mover.