Despite continued workforce challenges and economic uncertainties, new projects continue to break ground, as was indicated in the most recent Rider Levett Bucknall (RLB) North American crane index. As has been the trend for several years, Toronto continued to lead the look at 14 key markets in Canada and the U.S. That city’s skyline grew higher with a net of eight additional cranes in the Q1 2023 edition of the index.
In the six months leading up to the Q1 report, 31 projects were closed out in Toronto, but 37 new projects stepped in to push the count of cranes north. Residential projects saw an increase of 13 cranes, while commercial projects dropped six.
Overall in the North American index, there was a nominal increase of seven per cent, or 34 cranes, from the counts in the Q3 2022 index. Of the 14 cities surveyed: eight experienced an increase; two decreased; and four held steady. In Calgary, the other Canadian city in the index, the count was down one crane from the previous edition of the report.
RLB anticipates the number of cranes to remain high this year, saying that despite uncertain market conditions, construction projects will continue to break ground.