Cranes are most present at residential and mixed-use projects, while contractors continue to face climbing material costs and workforce shortages
This survey reports a nominal decrease 0.62% (3 cranes) from our Q1 2022 edition of the RLB Crane Index®. Of the fourteen cities surveyed: nine experienced an increase; four are holding steady; and one has decreased.
Key market indicators are returning to pre-pandemic levels, demonstrating that the industry appears to be recovering from the impacts of COVID-19. However, drivers in the market – including inflation, labor shortage, and supply chain issues – continue to impact construction, whether it be through cost or schedule.
We anticipate the number of cranes to increase going into 2023. Despite volatile market conditions, construction projects will continue to break ground, only at a cost.
A few key insights:
- Cities seeing an increase in cranes include Boston, Denver, Honolulu, Las Vegas, Phoenix, Portland, New York, and Seattle
- Cities holding steady in their crane counts include Chicago, Los Angeles, San Francisco, Toronto, and Washington D.C.
- Calgary was the only city with a decrease of greater than 20%