Markets & Reports
Toronto still atop North America for most operating cranes
October 21, 2022 By Toronto Star
A new report by property and consultancy firm Rider Levett Bucknall shows Toronto, Ont. remains the top operating crane market in North America – despite rising interest rates and declining condo starts.
Toronto had 230 active cranes in the sky in the third quarter of 2022. That is five times higher than Los Angeles, which ranked second on the RLB’s biannual Crane Index of 14 North American cities.
Even though there were almost nine per cent fewer cranes than in the first quarter of this year, when there were 252, Toronto has almost as many cranes as the other 13 markets combined, the report said. It attributed the drop to fewer new condo sales and mixed-use projects, along with staffing issues and strikes in Ontario’s construction sector.
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