Dive brief:
- The total number of cranes in commercial projects in US cities declined 10%, or by 51 cranes, from the first quarter to the third quarter of 2023, according to the Rider Levett Bucknall Crane Index. Of the 14 cities surveyed, six saw the number of cranes decrease by more than 20% and only two experienced increases.
- RLB attributed the decline to projects nearing completion. Also, as interest rates continue to rise, private sector construction is showing signs of slowing, the report said.
- Toronto continued to lead all cities with 240 cranes, a slight increase and nearly 200 more than any US city measured. Nationally, Seattle led the way with 45 cranes, followed by Los Angeles with 30 and Denver with 24.
Diving knowledge:
Residential cranes accounted for much of the first quarter count, but in the third quarter there were 13% fewer in the cities surveyed. However, RLB said residential cranes saw steady and continued growth, along with mixed-use projects, which accounted for 49% and 23% of the count, respectively. Commercial cranes accounted for 12% of the total.
Boston saw the biggest percentage increase, 122%, as it went from nine to 20 cranes. Cities that saw declines include Los Angeles (-17), Denver (-12), Washington, DC (-8), San Francisco (-6), Chicago (-5), Las Vegas (-3), Honolulu ( -2). ), New York (-2) and Phoenix (-2).
Most U.S. cities saw crane counts drop
Number of cranes in US cities at the end of the third quarter of 2023.
Construction starts fell 6% in September in Dodge Construction Network’s most recent spending report, set for assembly interest rate risks remain high.
Meanwhile, a large funding for CHIPS Act manufacturing megaprojects continues to dwindle resources such as labor and materials, leaving other projects scrambling to find staff and deliver projects.
