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RLB CRANE INDEX® North America – January 2018

The North American crane count has reached a new peak. Six of the 13 cities sampled are holding steady from the July report, while five cities show an increase in counts and only two have indicated a decrease in activity.

At nearly 40 percent of the total crane count, the residential market dominates sector activity. Leading this market is Toronto, with 70 of their cranes dedicated to high-rise condominium projects. Mixed-use development is the second largest market, making up nearly 25 percent of all cranes in North America. This sector is led primarily by Los Angeles, followed by Seattle, Portland, and Washington DC. Commercial projects make up 13 percent of the crane count, with San Francisco seeing the most activity in this sector.

The increase in net crane count indicates that the construction market is not merely holding steady, but prospering. It is anticipated that this growth will continue through 2018, as many cities continue to add to their roster
of proposed developments.

 

 

Toronto

For the second consecutive reporting period, Toronto has the highest crane count of all the cities surveyed. The market continues to be led by the residential sector, which makes up over 80% of the total crane count. Other active sectors include mixed-use and commercial developments, followed by education, healthcare, and hospitality.

Looking ahead, Toronto is expected to see a boost in spending on infrastructure, which is anticipated to trigger an increase in construction activity. More than 400 high-rise projects have been proposed, adding to the city’s dynamic skyline.

 

To get the latest news, condo investment buying tips and much more, check out our full blog.

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