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Mexico Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027

Pages: 50 Published: June 23, 2023 Report Code: GDCN1170MR

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Mexico Construction Market Report Overview

The Mexico construction market size was $177.8 billion in 2022. The market is projected to achieve an AAGR of more than 2% during 2024-2027. The growth of the construction industry in Mexico will be supported by ongoing economic growth and an increase in corporate nearshoring investment and public infrastructure investment.

Mexico Construction Market Outlook, 2022-2027

Mexico Construction Market Outlook, 2022-2027

For more insights into the Mexico construction market forecast, download a free report sample

The Mexico construction market research report provides detailed market analysis, information, and insights into the Mexico construction industry, including the growth prospects of the industry by market, project type, and construction activity. The report also delivers critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Mexico construction industry. The report also provides an analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Market Size (2022) $177.8 billion
AAGR (2024-2027) >2%
Forecast Period 2023-2027
Historical Period 2018-2022
Key Sectors ·       Commercial Construction

·       Industrial Construction

·       Infrastructure Construction

·       Energy and Utilities Construction

·       Institutional Construction

·       Residential Construction
Leading Contractors ·       Empresas ICA SAB de CV

·       FM – Sociedade de Controlo, SGPS, S.A.

·       Mota-Engil SGPS SA

·       Grupo Indi

·       Grupo Carso SA de CV

·       Grupo Azvi

·       China Communications Construction Group Ltd

·       Vinci SA

·       Proman AG

·       Actividades de Construccion y Servicios SA
Leading Consultants ·       Instituto Nacional de Investigaciones Nucleares

·       SENER Grupo de Ingenieria SA

·       Steer Davies & Gleave Limited

·       TSK Group

·       Argo Consultores Ambientales SA

·       Fluor Corp

·       TechnipFMC Plc

·       Aéroports de Paris Management

·       Tecnica Y Proyectos SA

·       KBR Inc
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Mexico Construction Market Segmentation by Sectors

The key sectors in the Mexico construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. Residential construction was the leading sector in the Mexico construction market in 2022.

Commercial construction: The commercial construction sector is sluggish in 2023 but will pick up pace from 2024 supported by a strong pipeline of hotel projects, coupled with investment in the retail, data center, and stadium projects.

Industrial construction: Output in the industrial sector will be supported by the government’s goal of developing industrial parks across the country.

Infrastructure construction: The growth of the infrastructure construction sector will be supported by public and private sector investment in rail and road infrastructure projects.

Energy and utilities construction: Forecast-period growth in the energy and utilities sector will be supported by the government’s plan to increase the share of renewable energy in the total energy mix from by 2030.

Institutional construction: The growth of the institutional construction sector in the forecast period will be aided by the government’s measures to increase spending on educational buildings and develop regional healthcare facilities.

Residential construction: The residential sector will be supported by investment in affordable housing construction, coupled with private investments in transforming office buildings into residential buildings.

Mexico Construction Market Analysis by Sectors, 2022 (%)

Mexico Construction Market Analysis by Sectors, 2022 (%)

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Mexico Construction Market - Competitive Landscape

The leading contractors in the Mexico construction market are Empresas ICA SAB de CV, FM – Sociedade de Controlo, SGPS, S.A., Mota-Engil SGPS SA, Grupo Indi, Grupo Carso SA de CV, Grupo Azvi, China Communications Construction Group Ltd, Vinci SA, Proman AG, and Actividades de Construccion y Servicios SA, among others. Empresas ICA SAB de CV led the market.

Mexico Construction Market by Contractors, 2022 (%)

Mexico Construction Market by Contractors, 2022 (%)

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The leading consultants in the Mexico construction market are Instituto Nacional de Investigaciones Nucleares, SENER Grupo de Ingenieria SA, Steer Davies & Gleave Limited, TSK Group, Argo Consultores Ambientales SA, Fluor Corp, TechnipFMC Plc, Aéroports de Paris Management, Tecnica Y Proyectos SA, and KBR Inc, among others. Instituto Nacional de Investigaciones Nucleares led the market.

Mexico Construction Market by Consultants, 2022 (%)

Mexico Construction Market by Consultants, 2022 (%)

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Segments Covered in the Report

Mexico Construction Sectors Outlook (Value, $ Billion, 2018-2027)

  • Commercial Construction
    • Leisure and Hospitality Buildings
    • Office Buildings
    • Outdoor Leisure Facilities
    • Retail Buildings
    • Other Commercial Construction
  • Industrial Construction
    • Chemical and Pharmaceutical Plants
    • Manufacturing Plants
    • Metal and Material Production and Processing plants
    • Waste Processing Plants
  • Infrastructure Construction
    • Rail Infrastructure
    • Road Infrastructure
    • Other Infrastructure Projects
  • Energy and Utilities Construction
    • Electricity and Power
    • Oil and Gas
    • Telecommunications
    • Sewage Infrastructure
    • Water Infrastructure
  • Institutional Construction
    • Educational Buildings
    • Healthcare Buildings
    • Institutional Buildings
    • Research Facilities
    • Religious Buildings
  • Residential Construction
    • Single-Family Housing
    • Multi-Family Housing

Scope

This report provides:

  • A comprehensive analysis of the construction industry in Mexico.

  • Historical and forecast valuations of the construction industry in Mexico, featuring details of key growth drivers.

  • Segmentation by sector 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

      • 4.1.1. Outlook

      • 4.1.2. Latest news and developments

      • 4.1.3. Construction Projects Momentum Index

    • 4.2. Commercial Construction

      • 4.2.1. Outlook

      • 4.2.2. Project analytics

      • 4.2.3. Latest news and developments

    • 4.3. Industrial Construction

      • 4.3.1. Outlook

      • 4.3.2. Project analytics

      • 4.3.3. Latest news and developments

    • 4.4. Infrastructure Construction

      • 4.4.1. Outlook

      • 4.4.2. Project analytics

      • 4.4.3. Latest news and developments

    • 4.5. Energy and Utilities Construction

      • 4.5.1. Outlook

      • 4.5.2. Project analytics

      • 4.5.3. Latest news and developments

    • 4.6. Institutional Construction

      • 4.6.1. Outlook

      • 4.6.2. Project analytics

      • 4.6.3. Latest news and developments

    • 4.7. Residential Construction

      • 4.7.1. Outlook

      • 4.7.2. Project analytics

      • 4.7.3. 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

  • 8. About GlobalData

  • 9. 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), 2018-27

Table 4: Mexico, Top Commercial Construction Projects by Value

Table 5: Mexico, Industrial Construction Output by Project Type (Real % Change), 2018-27

Table 6: Mexico, Top Industrial Construction Projects by Value

Table 7: Mexico, Infrastructure Construction Output by Project Type (Real % Change), 2018-27

Table 8: Mexico, Top Infrastructure Construction Projects by Value

Table 9: Mexico, Energy and Utilities Construction Output by Project Type (Real % Change), 2018-27

Table 10: Mexico, Top Energy and Utilities Construction Projects by Value

Table 11: Mexico, Institutional Construction Output by Project Type (Real % Change), 2018-27

Table 12: Mexico, Top Institutional Construction Projects by Value

Table 13: Mexico, Residential Construction Output by Project Type (Real % Change), 2018-27

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), 2021-27

Figure 2: Mexico, Construction Output by Sector (Real % Change), 2021-23 and 2024-27

Figure 3: Mexico, Risk Summary

Figure 4: Mexico, Risk Regional Comparison

Figure 5: Mexico, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2018-27

Figure 6: Mexico, Construction Output Value, by Sector (Real, $ Million), 2018-27

Figure 7: Mexico, Construction Value-Add, 2013 Prices (MXN Billion)

Figure 8: Mexico, Construction Confidence Index, In Seasonally-Adjusted Terms

Figure 9: Mexico, Gross Fixed Investment Index (2013=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), 2018-27

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, 2013 Prices)

Figure 17: Mexico, Value-Add of Artistic, Cultural, Sports and Other Related Activities (MXN Billion, 2013 Prices)

Figure 18: Mexico, Commercial Trade Confidence Index, In Seasonally-Adjusted Terms

Figure 19: Mexico, Industrial Construction Output by Project Type (Real, $ Million), 2018-27

Figure 20: Mexico, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 21: Mexico, Manufacturing Value Add (MXN Billion, 2013 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, Industrial, Manufacturing and Mining Production Volume Indices (Unadjusted, 2013=100)

Figure 25: Mexico, Total Merchandise Exports ($ Billion)

Figure 26: Mexico, Infrastructure Construction Output by Project Type (Real, $ Million), 2018-27

Figure 27: Mexico, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 28: Mexico, Construction Production Volume Index for Civil Engineering Activities (2013=100)

Figure 29: Mexico, Value Add of Civil Engineering Activities, In 2013 Prices, In MXN Billion

Figure 30: Mexico, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018-27

Figure 31: Mexico, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 32: Mexico, Generation, Transmission and Distribution of Electrical Energy Value Add (MXN Billion, 2013 Prices)

Figure 33: Mexico, Telecommunications Value Add (MXN Billion, 2013 Prices)

Figure 34: Mexico, Production Volume Index for Oil and Gas Extraction (2013=100)

Figure 35: Mexico, Electricity Production Volume Index (Unadjusted, 2013=100)

Figure 36: Mexico, Institutional Construction Output by Project Type (Real, $ Million), 2018-27

Figure 37: Mexico, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 38: Mexico, Value Add of Education, Health and Social Care Services, 2013 Prices, % Change YoY

Figure 39: Mexico, Residential Construction Output by Project Type (Real, $ Million), 2018-27

Figure 40: Mexico, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 41: Mexico, Real Estate Services Value Add (MXN Billion, 2013 Prices)

Figure 42: Mexico, House Price Index (2017=100)

Figure 43: Mexico, Gross Fixed Investment on Residential Buildings, 2013=100

Figure 44: Mexico, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 45: Mexico, Headquarters of Key Consultants (% of Total Project Pipeline)

Frequently Asked Questions

The construction market size in Mexico was $177.8 billion in 2022.

The construction market in Mexico is projected to achieve an AAGR of more than 2% during 2024-2027.

Residential construction was the leading sector in the Mexico construction market in 2022.

The leading contractors in the Mexico construction market are Empresas ICA SAB de CV, FM – Sociedade de Controlo, SGPS, S.A., Mota-Engil SGPS SA, Grupo Indi, Grupo Carso SA de CV, Grupo Azvi, China Communications Construction Group Ltd, Vinci SA, Proman AG, and Actividades de Construccion y Servicios SA, among others.

The leading consultants in the Mexico construction market are Instituto Nacional de Investigaciones Nucleares, SENER Grupo de Ingenieria SA, Steer Davies & Gleave Limited, TSK Group, Argo Consultores Ambientales SA, Fluor Corp, TechnipFMC Plc, Aéroports de Paris Management, Tecnica Y Proyectos SA, and KBR Inc, among others.
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