Mexico Construction Industry Databook Series – Market Size & Forecast by Value and Volume (area and units) across 40+ Market Segments in Residential, Commercial, Industrial, Institutional and Infrastructure Construction, Q1 2022 Update

Mexico Construction Industry Databook Series – Market Size & Forecast by Value and Volume (area and units) across 40+ Market Segments in Residential, Commercial, Industrial, Institutional and Infrastructure Construction, Q1 2022 Update

Report Description

According to ConsTrack360's Q4 2021 Global Construction Survey, construction industry in Mexico is expected to grow by 9.9% to reach MXN 26,05,066 million in 2022.

Despite near-term challenges in certain construction sectors, medium to long term growth story in Mexico remains intact. The construction industry in Mexico is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 7.0% during 2022-2026. The construction output in the country is expected to reach MXN 32,60,936.7 million by 2026.

Ongoing large construction projects are expected to support the industry’s recovery

The Mexican construction industry contracted significantly in 2020 due to the outbreak of the global pandemic. However, construction activities experienced some growth at the start of 2021, which is helping the sector to recover from its 2020 contraction.

Moreover, the growth in the construction sector is expected to receive support from some of the most important construction projects currently undertaken by the country. Some of these projects include the improvement of Mexico City Airport, Toluca's Airport, and the conversion of the Santa Lucia Military Air Base to a new commercial airport known as the Felipe Ángeles International Airport. Additionally, Tren Maya, Dos Bocas Refinery, Veracruz new port extension, and Itsmo de Tehuantepec's Interoceanic Corridor are some of the other key infrastructure construction projects that will support the industry’s growth in the next eight quarters.

Apart from these, the Real Estate Infrastructure Trusts are also developing many hospitality and commercial construction projects in Mexico. With these projects expected to be completed in the next few years, ConsTrack360 expects further development of the Mexican construction industry.

Port expansion construction project to support market growth in Mexico in 2022

In December 2021, the International Container Terminal Services, Inc. (ICTSI) announced the allocation of US$230 million for the expansion of the second specialized container terminal at the Port of Manzanillo in Colima, Mexico, during the second half of 2022. According to ICTSI, the investment of private capital into the expansion project of the port is a strategic one that will help benefit the supply chain in the region.

The construction of berths and yards, acquisition of quay cranes, port tractors, rubber-tired gantries, and other such equipment will help the public project for the expansion and the adaption of land access to the terminal. Moreover, the investment in the Port of Manzanillo is to expand the terminal's operating capacity from 1.4 million TEUs to 1.7 million TEUs annually. This expansion of the capacity by 300,000 also shows the ICTSI’s confidence in the potential growth of the Manzanillo Port and that of Mexico.

The infrastructure upgrades at the port will enhance the services in time for the growing maritime traffic at the port. Notably, the construction activities for the port expansion are expected to be undertaken during the second half of 2022. Consequently, ConsTrack360 expects the expansion construction project to keep supporting the growth of the overall construction industry in the country over the next four to eight quarters.

Government is planning to build the largest PV plant in the Latin American region

In July 2021, the Mexican Government announced its plans to develop the largest PV plant in the Latin American region. Notably, the project is to be implemented in Puerto Penasco, in the state of Sonora, which is one of the best regions for solar power generation in the world. For the development of the project, the Mexican Government estimated investment of approximately US$2 billion, with the construction activities to proceed in several phases.

Notably, the plant is estimated to occupy a surface area of nearly 2,000 hectares. Moreover, the construction will also entail the deployment of a new connection line. ConsTrack360 expects the development of the largest PV plant in the Latin American region to further support the growth of the construction industry in Mexico from a short to medium-term perspective.

This report from ConsTrack360 provides data and trend analyses on construction industry in Mexico, with over 100 KPIs. This is a data-centric report and it provides trend analyses with over 140+ charts and 110+ tables. It details market size & forecast, emerging trends, market opportunities, and investment risks in over 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors.

It provides a comprehensive understanding of construction industry sectors in both value and volume (both by activity and units) terms. The report focuses on combining industry dynamics with macro-economic scenario and changing consumer behavior to offer a 360-degree view of the opportunities and risks.

Scope
• Market Data and Insights: This report provides market size and forecast across 40+ construction segments for a period of 10 years from 2016-2025 in Mexico. KPIs covered include the following:
• Market size by value
• Market size by volume of construction
• Number of units
• Mexico Residential Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Housing type (multi family, single family)
• Key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)
• Price point / income level (luxury, mid-tier, affordable)
• Construction stage (new construction, re-development & maintenance)
• Mexico Residential Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Green building by Housing type (multi family, single family)
• Green building by Key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)
• Green building by Price point / income level (luxury, mid-tier, affordable)
• Mexico Commercial Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Office (further broken down by Grade A, Grade B, and Grade C)
• Retail (further broken down by Grade A, Grade B, and Grade C)
• Hospitality (further broken down by Grade A, Grade B, and Grade C)
• Restaurant (further broken down by Grade A, Grade B, and Grade C)
• Entertainment
• Sports facility
• Construction stage (new construction, re-development & maintenance)

• Mexico Commercial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Office green building construction
• Retail green building construction
• Hospitality green building construction
• Restaurant green building construction
• Entertainment green building construction
• Sports facility green building construction
• Other commercial green building construction
• Mexico Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)
• Mexico Institutional Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Healthcare construction
• Educational construction
• Public sector
• Construction stage (new construction, re-development & maintenance)
• Mexico Institutional Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Healthcare green building construction
• Educational green building construction
• Mexico Infrastructure Construction Sectors: 10- year market size & forecast in value terms by
• Marine and inland water infrastructure
• Utility system construction (oil and gas infrastructure, communication infrastructure, power infrastructure, water and sewer infrastructure)
• Transportation infrastructure (highway, street and bridge construction, railway construction, airport construction, and tunnel construction)
• Construction stage (new construction, re-development & maintenance)
• Mexico Green Infrastructure Construction: 10- year market size & forecast in value terms

Reasons to buy
• In-depth Understanding of Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 40+ market segments and sub-segments of building and infrastructure construction industry in Mexico.
• Volume and Value Data: Get detailed understanding of the market both from value and volume (both by activity and units) perspective for historical as well as forecast period
• Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in construction industry.
• City Level Insights: Get city level trend analyses by tier-1, tier-2, and tier-3 cities.