Mexico Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecasts, 2022-2026
Summary
GlobalData expects Mexico’s construction industry to decline by 1.1% in real terms in 2022 and 1.7% in 2023, owing to rising inflation and construction material prices, along with supply chain disruptions, the deteriorating financial position of the government, falling building permits, and labor shortages. According to INEGI, the construction industry registered a decline of 0.4% YoY in January-September 2022. Among all kinds of construction activities, building construction fell by 2.7% during the same period.
The delay in ongoing projects and cancellation of construction works will further elevate the slowdown in the construction industry in the upcoming quarters. Among the infrastructure projects, as of August 2022, only two out of 68 infrastructure projects announced in 2020 reached completion. As of September 2022, the construction works of the two stadiums - one in Yucatán state and one in Mexico City came to a halt due to political issues. Additionally, in October 2022, the country’s President kept 25 mining projects on hold for the time being and in December 2022, he cancelled an airport project which was kept unfinished by his predecessor.
The Mexican construction industry is expected to rebound at an annual average rate of 2.8% between 2024 and 2026, supported by a rebound in exports and government investment in railway infrastructure and renewable energy projects. According to the reports released by the Ministry of Economy in November 2022, Foreign Direct Investment (FDI) in Mexico increased by 29.5% YoY in the first nine months of 2022, reaching MXN32.2 billion ($1.3 billion), with the manufacturing sector accounting for 36.3% of the total investment followed by the transport sector which accounts for 14.5% of the total investment. Furthermore, the government is in the process of planning the MXN14.5 billion ($723 million) Campeche Light Train Development project which involves the construction of a 20.67km light train, stations, and the installation of electronic and signaling systems
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 activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Mexico’s construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
This report provides a comprehensive analysis of the construction industry in Mexico. It provides -
- Historical (2017-2021) and forecast (2022-2026) 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-sector
- Analysis 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 consultants
- Identify 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.
- 1 Executive Summary
- 2 Construction Industry: At-a-Glance
- 3 Context
- 3.1 Economic Performance
- 3.2 Political Environment and Policy
- 3.3 Demographics
- 3.4 COVID-19 Status
- 3.5 Risk Profile
- 4 Construction Outlook
- 4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
- 4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
- 5 Key Industry Participants
- 5.1 Contractors
- 5.2 Consultants
- 6 Construction Market Data
- 7 Appendix
- 7.1 What is this Report About?
- 7.2 Definitions
- 7.3 CRI Methodology
- 7.4 GlobalData Construction
- Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Mexico, Key Economic Indicators
- Table 3: Mexico, Commercial Construction Output by Project Type (Real % Change), 2017-26
- Table 4: Mexico, Top Commercial Construction Projects by Value
- Table 5: Mexico, Industrial Construction Output by Project Type (Real % Change), 2017-26
- Table 6: Mexico, Top Industrial Construction Projects by Value
- Table 7: Mexico, Infrastructure Construction Output by Project Type (Real % Change), 2017-26
- Table 8: Mexico, Top Infrastructure Construction Projects by Value
- Table 9: Mexico, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26
- Table 10: Mexico, Top Energy and Utilities Construction Projects by Value
- Table 11: Mexico, Institutional Construction Output by Project Type (Real % Change), 2017-26
- Table 12: Mexico, Top Institutional Construction Projects by Value
- Table 13: Mexico, Residential Construction Output by Project Type (Real % Change), 2017-26
- Table 14: Mexico, Top Residential Construction Projects by Value
- Table 15: Mexico, Key Contractors
- Table 16: Mexico, Key Consultants
- Table 17: Mexico, Construction Output Value (Real, $ Million)
- Table 18: Mexico, Construction Output Value (Nominal, MXN Million)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Latin America, Construction Output (Real % Change), 2020-26
- Figure 2: Mexico, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
- Figure 3: Mexico, COVID-19 Confirmed Cases
- Figure 4: Mexico, Risk Summary
- Figure 5: Mexico, Risk Regional Comparison
- Figure 6: Mexico, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26
- Figure 7: Mexico, Construction Output Value, by Sector (Real, $ Million), 2017-26
- Figure 8: Mexico, Construction Value-Add, 2013 Prices (MXN Billion)
- Figure 9: Mexico, Construction Production Volume Index (2013=100)
- Figure 10: Mexico, Construction Confidence Index, In Seasonally-Adjusted Terms
- Figure 11: Mexico, Gross Fixed Investment Index (2013=100)
- Figure 12: Mexico, Construction Projects Momentum Index
- Figure 13: Region, Construction Projects Momentum Index
- Figure 14: Mexico, Commercial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 15: Mexico, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 16: Mexico, Total International Tourist Arrivals (in Thousands)
- Figure 17: Mexico, Wholesale and Retail Trade Value Add (MXN Billion, 2013 Prices)
- Figure 18: Mexico, Value-Add of Artistic, Cultural, Sports and Other Related Activities (MXN Billion, 2013 Prices)
- Figure 19: Mexico, Commercial Trade Confidence Index, In Seasonally-Adjusted Terms
- Figure 20: Mexico, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 21: Mexico, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 22: Mexico, Manufacturing Value Add (MXN Billion, 2013 Prices)
- Figure 23: Mexico, Manufacturing Orders Indicator (IPM), In Seasonally-Adjusted Terms
- Figure 24: Mexico, Manufacturing Confidence Index, In Seasonally-Adjusted Terms
- Figure 25: Mexico, Industrial, Manufacturing and Mining Production Volume Indices (Unadjusted, 2013=100)
- Figure 26: Mexico, Total Merchandise Exports (US$ Billion)
- Figure 27: Mexico, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 28: Mexico, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 29: Mexico, Construction Production Volume Index for Civil Engineering Activities (2013=100)
- Figure 30: Mexico, Value Add of Civil Engineering Activities, In 2013 Prices, In MXN Billion
- Figure 31: Mexico, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 32: Mexico, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 33: Mexico, Generation, Transmission and Distribution of Electrical Energy Value Add (MXN Billion, 2013 Prices)
- Figure 34: Mexico, Telecommunications Value Add (MXN Billion, 2013 Prices)
- Figure 35: Mexico, Production Volume Index for Oil and Gas Extraction (2013=100)
- Figure 36: Mexico, Electricity Production Volume Index (Unadjusted, 2013=100)
- Figure 37: Mexico, Institutional Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 38: Mexico, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 39: Mexico, Value Add of Education, Health and Social Care Services, 2013 Prices, % Change YoY
- Figure 40: Mexico, Residential Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 41: Mexico, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 42: Mexico, Real Estate Services Value Add (MXN Billion, 2013 Prices)
- Figure 43: Mexico, Gross Fixed Investment on Residential Buildings, 2013-100
- Figure 44: Mexico, House Price Index (2017=100)
- Figure 45: Mexico, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 46: Mexico, Headquarters of Key Consultants (% of Total Project Pipeline)
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