2023 is gradually coming to an end, so the final days of December are a great opportunity to reflect on the business achievements and make plans for the new business year. What awaits a regular mid-sized art mover business in the USA in 2024 and beyond? What are the key figures and trends business owners should pay attention to when analyzing the market? Here are a couple of stats that every art logistics industry participant should be alert to.
Art Logistics Market Size
If you take a look at the real state of affairs in the art logistics market in the USA, it becomes evident that the industry is far from maturity and saturation. It has been evaluated at $760+ million in 2020 and is expected to continue growing until 2028 at a CAGR of 5.4%, making up a 1.1 trillion industry by 2028. These figures point to the ever-increasing demand for art mover services among various art industry players across the United States of America.
Art Shipping Business Segmentation
At present, the art logistics business is highly segmented in the USA, including such areas as transportation, packaging, storage, import customs clearance, and related services. The transportation segment is the largest of all sectors, with a CAGR of 6%+ and a steadily rising demand for shipping services across the US. This trend reflects people’s concerns about the safe and effective art moving process that still poses challenges to art owners and dealers.
Art Mover Business Forecasts
The growing demand for art moving services is expected to drive the industry’s further development in the coming five years. Other drivers of growth include the increasing application of advanced technologies and continuous optimization of art shipping logistics and supply chains. The fast development of e-commerce and online platforms specializing in art object sales is also expected to contribute to the expansion of the art shipping industry.
Yet, the sector is expected to experience continued pressures and limitations of high operational costs and a lack of skilled professionals able to deliver top-tier art handling and shipping services. Therefore, we can suggest that only companies investing in in-house training will preserve their competitive positioning in the market and enjoy a steady flow of orders and new partnerships.
We at Fine Art Shippers are always responsive to the changing market dynamics, keeping our hands on the pulse of the art logistics market heartbeat. Our company provides all popular and demanded art shipping and packaging services and can address your needs in 2024 and beyond.