International property and construction consultancy firm Rider Levett Bucknall (RLB) recently released its latest Crane Index and Quarterly Cost Report which revealed that along with Boston, the City of Toronto was the only other city in the report that saw increased crane counts.
The report, which provide a perspective on the North American construction industry in 14 key markets and a statistical view of the industry, detailing construction costs across eight building sectors, revealed a slight decline in crane numbers in the second half of 2023.
According to the report, cities holding steady in their crane counts include Calgary, Honolulu, New York, Phoenix, Portland, and Seattle.
Cities with a decrease greater than 20 per cent in cranes were Chicago, Denver, Las Vegas, Los Angeles, San Francisco, and Washington, DC, acording to the report.
“The current economic situation has many feeling like they are playing a chess match with no endgame,” said Julian Anderson, FRICS, president of RLB North America.
“Despite these challenges, the construction industry has been remarkably resilient. The pieces on the economic board may still be shifting, but we are continuing to make well-considered moves and are positioning us for a stronger, more secure financial future.”
According to RLB, while there is an overall downward trend in crane numbers, the residential sector continues seeing consistent growth, as well as mixed-use projects, which make up 72 per cent of the overall count.
