Latest Crane Count Reaches All-time High, Exceeding 500 Cranes
This survey reports a nominal increase of 7.04% (34 cranes) from our Q3 2022 edition of the RLB Crane Index¨. Of the fourteen cities surveyed: eight experienced an increase; two decreased; and four held steady.
Despite continued workforce challenges and economic uncertainties are still concerns for the coming year, we are continuing to see new projects break ground within our 14-key markets. This indicates that investments are continuing to be made into our cities.
Notwithstanding concerns for the housing market, residential and mixed-use projects make up 73% of the overall count. We anticipate the number of cranes to remain high into 2023. Despite uncertain market conditions, construction projects will continue to break ground, albeit at a cost.
A few key insights:
- Cities seeing an increase in cranes include Denver, Honolulu, Las Vegas, Los Angeles, Phoenix, San Francisco, Seattle, and Toronto
- Cities holding steady in their crane counts include Boston, Calgary, Portland, and Washington DC
- Cities with a decrease in cranes include Chicago and New York