Mongolia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)
Summary
Following growth of 10.4% in 2024, GlobalData expects the construction industry in Mongolia to grow by 5.2% in real terms in 2025, supported by public and private sector investments into the development of energy, transport network, and residential construction projects. According to the Mongolian National Statistics Office (NSO), construction value-add grew by 12.5% YoY in Q4 2024, preceded by a YoY decline of 3.5% in Q3, and growth of 16.8% in Q2 2024. In March 2025, Ulaanbaatar City announced plans to build new roads at 10 locations and upgrade roads at 41 locations, which will boost growth in the construction sector. The plan includes the construction of an 800-meter bridge connecting Naadamchdiin Street to the First Microdistrict, and new roads from Tonyukuk Road to the Playtime Tourism Complex, as well as access roads to waste disposal sites at Moringiin Davaa and Tsagaan Davaa. Furthermore, rising foreign direct investment (FDI) is expected to boost construction development. According to NSO, Mongolia's foreign direct investment (FDI) rose by 13.3% in 2024, rising from MNT1.2 trillion ($3.5 billion) in 2023 to MNT1.4 trillion ($4 billion) in 2024, reflecting growing investor confidence in the country’s energy sector and infrastructure development.
Over the remainder of the forecast period, GlobalData expects the Mongolian construction industry to record annual average growth of 4.4% between 2026 and 2029, supported by investment in transportation, electricity, and mining sectors. In March 2025, Mongolia announced a comprehensive energy reform plan featuring 14 major projects aimed at diversifying energy sources, enhancing infrastructure, and reducing air pollution. As part of the reforms, several key projects have been introduced, including the 450MW Tavan Tolgoi Thermal Power Plant, the 90MW Erdeneburen Hydroelectric Plant, and the 310MW Eg River Hydroelectric Plant (EGHPP).
GlobalData’s Construction in Mongolia - Country Briefing (H1 2025) report provides detailed market analysis, information and insights into Mongolia's construction industry, including -
- Mongolia'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 Mongolia'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 Mongolia. It provides -
- Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Mongolia, 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 our 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 business strategies 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 Latest news and developments
- 4 Project analytics
- 5 Construction Market Data
- 6 Risk Profile
- 7 Appendix
- 7.1 Definitions
- 7.2 CRI Methodology
- 7.3 About GlobalData
- 8 Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Mongolia, Top Construction Projects by Value
- Table 3: Mongolia, Construction Output Value (Real, $ Million)
- Table 4: Mongolia, Construction Output Value (Nominal, MNT Billion)
- Table 5: GlobalData Construction Market Definitions
- Table 6: Risk Dimensions
- Table 7: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Mongolia, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020–29
- Figure 2: Mongolia, Construction Output Value, by Sector (Real, $ Million), 2020–29
- Figure 3: North-East Asia, Construction Output (Real % Change), 2023–29
- Figure 4: Mongolia, Construction Output by Sector (Real % Change), 2023–25 and 2026–29
- Figure 5: Mongolia, Construction Value-add (MNT Billion, 2015 Constant Prices)
- Figure 6: Mongolia, Construction Cost Index (2015=100), % Changes YoY
- Figure 7: Mongolia, FDI in Construction Sector, (In $ Million)
- Figure 8: Mongolia, Service Sector Value-add (MNT Billion, 2015 Constant Prices)
- Figure 9: Mongolia, Wholesale and Retail Trade Value-add (MNT Billion, 2015 Constant Prices)
- Figure 10: Mongolia, Manufacturing Value-add (MNT Billion, 2015 Constant Prices)
- Figure 11: Mongolia, FDI in Manufacturing Sector, (In $ Million)
- Figure 12: Mongolia, Exports (In $ Million)
- Figure 13: Mongolia, Number of Inbound Tourists
- Figure 14: Mongolia, Mining and Quarrying Value-add (MNT Billion, 2015 Constant Prices)
- Figure 15: Mongolia, Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 16: Mongolia, Risk Summary
- Figure 17: Mongolia, Risk Regional Comparison
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