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Mexico Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q2 2024)

Publisher GlobalData
Published Jun 28, 2024
SKU # GBDT19139284

Description

Mexico Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q2 2024)

Summary

GlobalData’s Construction in Mexico - Key Trends and Opportunities to 2028 (Q2 2024) 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.
Following bourgeoning growth of 15.6% in real terms in 2023, Mexico’s construction industry is expected to slow in 2024, registering marginal growth at 0.3%, thereafter, declining by 6.8% in 2025, owing to high base effects and high inflation, a fall in construction confidence, a nationwide drought that is spiking energy prices, and halting production of manufacturing businesses domestically. According to the Monthly Business Opinion Survey - conducted by the National Institute of Statistics and Geography (INEGI) - the average construction confidence index declined by 2.6% YoY (year on year) in the first five months of 2024; a symptom driven by US bans on Mexico’s new Liquefied Natural Gas (LNG) export terminal in January of 2024. Resultantly, oil and gas production has dramatically dropped. To-date, 9 LNG projects have been cancelled, including the Vista Pacifico Liquified Natural Gas Plant project valued at MXN34.8 billion ($2 billion). According to the INEGI, the volume index of production for oil and gas extraction fell by 3.8% YoY in the first four months of 2024, preceding annual growth of 3% in 2023.

Furthermore, Mexico’s construction industry is expected to register an annual average growth of 2.3% between 2026 and 2028, supported by public-private sector investment in energy, infrastructure, and industrial construction projects. In February of 2024, Woodside - Australian oil company - reported that its oil project, located near the south of Mexico maritime border, received government approval. With an expected investment of MXN125.1 billion ($7.2 billion), the project includes the construction of a floating oil production plant by 2028. In May of 2024, BMW commenced the construction of a battery assembly plant spanning 80,000m2 in San Luis Potosi, holding an investment of MXN13.9 billion ($800 million), and is estimated to complete by 2027. Similarly, in May, Gerdau - Brazilian steel developer - announced plans to develop a steel plant in central Mexico with an estimated investment of MXN10.4 billion ($600 million); construction is expected to commence in 2025.

Scope

This report provides a comprehensive analysis of the construction industry in Mexico. It provides -
  • Historical (2019-2023) and forecast (2024-2028) 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
Reasons to Buy
  • 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.

Table of Contents

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 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), 2019-28
Table 4: Mexico, Top Commercial Construction Projects by Value
Table 5: Mexico, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Mexico, Top Industrial Construction Projects by Value
Table 7: Mexico, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Mexico, Top Infrastructure Construction Projects by Value
Table 9: Mexico, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Mexico, Top Energy and Utilities Construction Projects by Value
Table 11: Mexico, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Mexico, Top Institutional Construction Projects by Value
Table 13: Mexico, Residential Construction Output by Project Type (Real % Change), 2019-28
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), 2022-28
Figure 2: Mexico, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: Mexico, Risk Summary
Figure 4: Mexico, Risk Regional Comparison
Figure 5: Mexico, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: Mexico, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: Mexico, Construction Value add, 2018 Prices (MXN Billion)
Figure 8: Mexico, Construction Confidence Index, In Seasonally Adjusted Terms
Figure 9: Mexico, Gross Fixed Investment Index (2018=100)
Figure 10: Mexico, Construction Production Volume Index (2013=100)
Figure 11: Mexico, Construction Projects Momentum Index
Figure 12: Latin America, Construction Projects Momentum Index
Figure 13: Mexico, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 14: Mexico, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 15: Mexico, Total International Tourist Arrivals (In Thousands)
Figure 16: Mexico, Wholesale and Retail Trade Value Add (MXN Billion, 2018 Prices)
Figure 17: Mexico, Value add of Artistic, Cultural, Sports and Other Related Activities (MXN Billion, 2018 Prices)
Figure 18: Mexico, Commercial Trade Confidence Index, In Seasonally Adjusted Terms
Figure 19: Mexico, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 20: Mexico, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 21: Mexico, Manufacturing Value Add (MXN Billion, 2018 Prices)
Figure 22: Mexico, Manufacturing Orders Indicator (IPM), In Seasonally Adjusted Terms
Figure 23: Mexico, Manufacturing Confidence Index, In Seasonally Adjusted Terms
Figure 24: Mexico, Total Merchandise Exports ($ Billion)
Figure 25: Mexico, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 26: Mexico, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 27: Mexico, Construction Production Volume Index for Civil Engineering Activities (2018=100)
Figure 28: Mexico, Value Add of Civil Engineering Activities, In 2018 Prices, In MXN Billion
Figure 29: Mexico, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 30: Mexico, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: Mexico, Generation, Transmission and Distribution of Electrical Energy Value Add (MXN Billion, 2018 Prices)
Figure 32: Mexico, Telecommunications Value Add (MXN Billion, 2018 Prices)
Figure 33: Mexico, Production Volume Index for Oil and Gas Extraction (2018=100)
Figure 34: Mexico, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 35: Mexico, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 36: Mexico, Value Add of Education, Health, and Social Care Services, 2018 Prices, % Change YoY
Figure 37: Mexico, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 38: Mexico, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 39: Mexico, Real Estate Services Value Add (MXN Billion, 2018 Prices)
Figure 40: Mexico, House Price Index (2017=100)
Figure 41: Mexico, Gross Fixed Investment on Residential Buildings, 2018=100
Figure 42: Mexico, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 43: Mexico, Headquarters of Key Consultants (% of Total Project Pipeline)

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