Source: Rider Levett Bucknall
Rider Levett Bucknall announced the launch of its inaugural edition of the North American RLB Crane Index. The new report measures construction activity in major cities across North America and predicts the health of the U. S. construction industry.
Unlike other industry barometers that track cost and other financial data, the Crane Index tracks the number of fixed cranes on construction sites in major cities across North America.
According to the first issue of the Index, the residential market — specifically condominium and apartment developments – continues to lead the U.S. construction recovery. The commercial, healthcare, hospitality, and education sectors have also started to see increases in crane activity.
Rider Levett Bucknall’s local offices gather data and information for the Index via surveys and other proprietary collection methods, including physically counting all fixed cranes appearing on each city’s skyline. This count is performed twice yearly and provides the baseline data for the Index.
Sectors leading growth include residential, commercial and mixed use
The North American RLB Crane Index also indicates that residential projects in Boston, Chicago, Denver, Honolulu, Los Angeles, New York and Seattle are responsible for the majority of cranes populating the city skylines, with the majority of the projects being condominium and apartment developments.
The Index further indicates that in Phoenix and San Francisco commercial and mixed-use projects have the most cranes active
Other market sectors across the U.S. exhibiting growth in crane counts include hospitality and healthcare.