REGIONAL REPORT Ӏ THE AMERICAS


Following government stimulus programmes such as the Infrastructure Investment and Jobs Act (IIJA), the ‘Investing in America’ initiative, and the Inflation Reduction Act, U.S. construction experienced robust growth in 2024. Annual gains reached 6.5%, the highest among G7 nations. Yet, as 2025 continues to unfold, the sector faces pronounced headwinds. Analysing data up to Q2, 2025, business intelligence provider GlobalData (the owner of BTMI which publishes Cranes Today), forecast 1% real-term growth for the U.S., while Canada was expected to return to 2.6% growth, contributing to a North American average of 1.2% — a marked slowdown from the previous year. U.S. growth now hinges on the


durability of tariff policies, particularly on steel and aluminium, as well as broader reciprocal tariffs on key trading partners. For Canada, heavily reliant on U.S. trade, the terms of ongoing negotiations are critical; however, domestic investment in housing and energy was expected to support a recovery.


TARIFFS AND TRADE WARS April 2025’s 'Liberation Day' introduced some of the harshest U.S. tariff measures


since the 1930s. The administration imposed blanket tariffs of 10–25% on all trading partners, with plans to reinstate 11–50% reciprocal tariffs unless formal agreements existed. Concurrently, steel and aluminium import duties doubled from 25% to 50%, creating notable inflationary pressure. Contractors faced material cost


increases of 5.8–6.8%, while residential construction has seen an additional $10,900 added to the price of the average new single-family home. Supply chain disruptions and rising costs are contributing to project delays, with 25% of ABC members reporting tariff-related cancellations or postponements in May 2025. Escalation clauses, renegotiations, and front-loaded procurement have become standard strategies to mitigate risk, though such approaches have already contributed to a 0.3% contraction in U.S. GDP in Q1, 2025. While domestic resourcing offers potential relief, long-term solutions are emerging through strategic investments. For instance, the acquisition of U.S. Steel by Nippon Steel has strengthened domestic capacity, with an $11 billion investment plan and government ‘golden share’ oversight. Despite lobbying efforts


by National Association of Home Builders and The Associated General Contractors of America uncertainties around tariffs, material costs, and trade policy persist.


RESIDENTIAL SECTOR SQUEEZE The U.S. residential construction sector, accounting for 43.3% of total construction in 2024, is particularly sensitive to tariff-driven cost pressures and reduced funding. GlobalData forecast a 0.6% decline in 2025, with new building permits falling 3.2% YoY and completions declining 12.3% in April 2025. Proposed budget cuts exacerbate the challenge. The FY26 federal budget seeks to reduce HUD funding by $26.7 billion, with major programmes such as HOPWA and IHBG facing cuts. Combined with elevated 30-year mortgage rates at 6.84%, housing affordability constraints are expected to further depress demand, particularly in price-sensitive regions. In Canada, residential construction


represents 42.3% of the sector. Prime Minister Carney’s government aims to double homebuilding to 500,000 units per year, supported by CAD25B in debt financing and CAD1B in equity for residential projects. The National Housing Strategy adds CAD115B ($84.3B) through


MAMMOET COMPLETES SIX MODULE INSTALLATIONS FOR NEW TERMINAL AT DALLAS FORT WORTH INTERNATIONAL AIRPORT


Mammoet has successfully supported the installation of six modules that make up the first phase of a the future sixth terminal at Dallas Fort Worth International Airport (DFW); reaching a significant milestone in a multi-phase project to expand capacity at the major US hub.


This initial phase of Terminal F has been built using modular


construction techniques; a method that sees large structures prefabricated off-site, in sections, before being transported to their final location and connected. It allows major construction and infrastructure projects to be completed faster, safer and more cost-efficiently. For busy sites like airports, where space is limited and civil work can cause significant disruptions, it has major benefits. For the new Terminal F, Mammoet worked with Walsh Group, who led the Innovation Next+ joint venture to build the initial 15-gate terminal concourse and new Skylink Station. The operation marks the biggest airport terminal modules ever


moved, with the heaviest unit weighing 3,320t and measuring 85 metres in length. The modules were fabricated at a nearby fabrication site on airport


property and transported to the site, one by one, on Mammoet Self- Propelled Modular Transporters (SPMTs). The SPMTs were fitted with metal supports, which allowed them to be lifted via the stroke of the SPMTs before being carried across the tarmac and installed at their new home.


16 CRANES TODAY


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