Toronto again leads RLB crane count
Toronto continues to lead North America’s crane count.
Analysts Rider Levitt Bucknall (RLB) released its latest biennial report on the metric earlier this month. The report finds more than 200 tower cranes in operation across the GTA in the first quarter of this year. That’s more than four times the number of cranes in use in Los Angeles, the second-place city.
The report finds that overall, the crane count is down 9% from the third quarter of last year, and down 18% compared to the first quarter of 2023. RLB suggests that projects are approaching completion at a faster rate than new projects are breaking ground.
Of the 14 North American cities surveyed: seven experienced decreases of 20% or more, three increased and four held steady.
Toronto’s crane count dropped by 19 since the last RLB report. The total of 221 cranes in use in the first quarter of this year is the lowest in use in the city since 2022, signaling a slowdown in overall construction activity.
The greatest drop in activity in the GTA was in the commercial sector, where the crane count dropped by 10; cranes in use in the hospitality sector dropped by five. Cranes in use on residential and mixed-use projects continued to dominate the crane count, accounting for over 80 percent of the total cranes.
RLB has advised that future iterations of its Crane Index will shrink the Toronto geographic region to a radius of 3.5 kilometres beyond the Bloor St W and Avenue Rd centre. As of the first quarter of 2024 this core area contributes to approximately 35% of the overall Toronto crane count (80 cranes).
Calgary is the only other Canadian city listed on the RLB index. The report finds one new tower crane erected in the city, with most of the cranes being used for residential projects.
Despite concerns about a labour shortage in the city’s construction sector, housing starts reached record highs as last year as the city received 21,317 applications for building permits.
Despite the continued downturn in cranes across North America, RBL analysts say they remain cautiously optimistic.
“Ongoing investment in manufacturing and infrastructure will help offset any decline in privately funded projects in 2024. Overall, construction spending will be driven by public funding for manufacturing and infrastructure projects.”