Mexico Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
Summary
GlobalData has revised down the estimated growth for Mexico’s construction industry in 2022, with the industry now expected to grow by 1.4% in real terms this year, from the earlier estimate of 5.4%. This downward revision is attributed 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 the National Institute of Statistics and Geography (INEGI), the prices of construction materials increased by 16.8% year on year (YoY) in the first half of 2022. The escalation of construction material prices is, however, expected to stabilize in the second half of this year. According to the INEGI, the construction industry’s value add rose marginally by 0.5% YoY in H1 2022. Growth is expected to pick up pace in H2 2022, supported by the anticipated fall in construction material prices, the government’s stimulus packages for the construction industry, rising permits, and the strong implementation of projects earmarked for 2022.
The Mexican construction industry is expected to rebound at an annual average rate of 2.1% between 2023 and 2026, supported by investment in residential, transport, electricity, Liquefied Natural Gas (LNG), and telecommunication infrastructure projects. Furthermore, in September 2022, the Ministry of Finance and Public Credit proposed a Budget for 2023. The MXN8.3 trillion ($417 billion) Budget provided weight on infrastructure projects, seniors’ pensions, health care, and social programs. The Mexican President announced plans in May 2022 to construct three new gas liquefaction facilities at a cost of MXN61.4 billion ($3 billion) to MXN81.8 billion ($4 billion), with these projects expected to be tendered by the end of this year.
The report provides detailed market analysis, information and insights into the Mexican construction industry, including -
- The Mexican 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 the Mexican 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 Billion)
- 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, Manufacturing and Mining Production Volume Indices (Unadjusted, 2013=100), % Change YoY
- Figure 26: Mexico, Total Merchandise Exports ($ 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
- 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)
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook