Toronto crane count drops in Q3, but remains North America’s highest
Although the number of tower cranes operating in Toronto decreased in the third quarter of this year, Ontario’s capital city still boasts the most cranes in operation (230) in North America.
The Crane Index from industry analysts Rider Levett Bucknall (RLB) tracks the number of operating tower cranes in 14 North American cities: Toronto, Calgary, Boston, New York, Washington, Chicago, Denver, Phoenix, Los Angeles, Los Vegas, San Francisco, Portland, Seattle, and Honolulu.
Compared with the first quarter edition of the report, the third quarter report shows a decrease of three cranes in operation across those key cities, with nine showing increases in crane activity, four holding steady and one reporting fewer cranes in use.
The Greater Toronto Area (GTA) saw a decrease in the number of cranes to 230 – a drop of 8.7 percent since last report.
With most of Toronto’s cranes (126) operating in the residential sector, the city’s crane count depends heavily on the housing market. RLB reports that Toronto has seen “a significant decline in new condo sales and mixed- use projects, as well as staffing challenges related to a strike by Ontario construction workers.”
Meanwhile, the GTA industrial market continues to be a hub of activity. Demand is centred on logistics and distribution, manufacturing, consumer goods and services, and retail/e-commerce businesses.
Further investments by the provincial government in key transportation and healthcare infrastructure may help to boost the region’s crane count in the coming 12 to 15 months.
In Calgary, meanwhile, the number of cranes decreased with the completion of many residential- and office-building projects in the downtown area.
RLB expects that number should quickly rise with a variety of new construction projects underway exceeding $7.4 billion. The city is investing in infrastructure, including highway interchanges, flood mitigation projects, community improvements, bridge work, and transit improvements, including its new Green Line light-rail transit project – the largest infrastructure investment in the city’s history.
Overall, RLB says, key market indicators are returning to pre-pandemic levels, demonstrating that the industry appears to be recovering from the impacts of COVID-19. However, drivers in the market – including inflation, labour shortage and supply chain issues – continue to impact construction, whether it be through cost or schedule.
The organization says it anticipates the number of cranes to increase going into 2023.