Mexico Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

Mexico Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027
Summary

GlobalData expects Mexico’s construction industry to grow by 10.3% in real terms in 2023, reflecting the recent surge in infrastructure construction works. This is in line with Mexico’s President Andrés Manuel López Obradorto’s (AMLO) aim to complete all the pending projects before his term in office ends in September 2024. For instance, the President is focusing on completing the ongoing construction works on MXN131.6 billion ($6.4 billion) Maya Train project and MXN92.5 billion ($4.5 billion) Isthmus of Tehuantepec rail corridor by 2024. Moreover, according to the National Institute of Statistics and Geography (INEGI), the construction industry recorded positive growth in the first six months of 2023, expanding by 10.5% year on year (YoY), and gross fixed investments on buildings rose by 17.9% in the first six months of 2023. This growth was driven by the non-residential buildings sector, which rose by 38.3% YoY during the same period.

However, following a sharp boost in 2023, GlobalData expects the construction output to ease back in 2024 and 2025, Over the remainder of the forecast period, the construction industry is expected to recover and register an annual average growth of 2.9% in 2026-27, supported by investments in major infrastructure and energy projects. Government led infrastructure investments such as the MXN352 billion ($18.9 billion) in investment to implement 541 infrastructure projects during 2023-25 and Ministry of Energy’s aim to increase the generation of electricity from solar and wind energy from a total of 16.8GW as of 2021 to 40GW by 2030 will support the construction industry to gain its momentum. Moreover, growth in the forecast period will also be supported by the country’s aim to have half of the total vehicles manufactured in Mexico to be hybrid or electric by 2030.

The report provides detailed market analysis, information and insights into Mexico’s construction industry, including -Mexico’s construction industry's growth prospects by market, project type and construction activityCritical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Mexico’s construction industryAnalysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.Scope

This report provides a comprehensive analysis of the construction industry in Mexico. It provides -Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Mexico, featuring details of key growth drivers.Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sectorAnalysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.Listings of major projects, in addition to details of leading contractors and consultantsReasons to BuyIdentify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.Assess market growth potential at a micro-level with over 600 time-series data forecasts.Understand the latest industry and market trends.Formulate and validate strategy using GlobalData's critical and actionable insight.Assess business risks, including cost, regulatory and competitive pressures.Evaluate competitive risk and success factors.