In Q3 2024, majority of the cranes continue to be stationed at residential and mixed-use projects, making up 69 percent of the overall count.
This survey reports a slight decrease of 5% (15 cranes) from our Q1 2024 edition of the RLB Crane Index¨. Of the fourteen cities surveyed: four experienced a decrease of greater than 20 percent; seven increased; and three held steady.
The mixed-use sector continues to dominate crane activity, reflecting strong demand for diverse developments. Major projects in sectors such as healthcare, education, and infrastructure are driving significant investment and construction efforts. Despite challenges of high office vacancy rates in certain areas, the overall construction activity remains robust, indicating a dynamic and evolving urban development.
A few key insights:
- Calgary, Chicago, Honolulu, Las Vegas, Phoenix, Toronto, and Washington D.C. have seen an increase in crane counts
- Denver, Los Angeles, and New York City are holding steady in their crane counts
- Cities with a decrease include Boston, Portland, San Francisco, and Seattle
