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

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Mexico Construction Market Report Overview

The Mexico construction market size was $185.8 billion in 2022. The market is projected to achieve an AAGR of less than 1% during 2024-2027. The growth of the market during 2026-2027 is attributed to public and private sector investment in energy, infrastructure, and industrial construction projects.

Mexico Construction Market Outlook, 2022-2027 ($ Billion)

Mexico Construction Market Outlook, 2022-2027 ($ Billion)

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The Mexico construction market research report offers a comprehensive understanding of project types and construction activities in the country. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence Mexico construction market growth in the coming years.

Market Size (2022) $185.8 billion
AAGR (2024-2027) <1%
Forecast Period 2024-2027
Historical Period 2018-2023
Key Sectors ·        Commercial Construction

·        Industrial Construction

·        Infrastructure Construction

·        Energy and Utilities Construction

·        Institutional Construction

·        Residential Construction

Key Contractors ·        Empresas ICA SAB de CV

·        Mota-Engil SGPS SA

·        Grupo Carso SA de CV

·        Grupo Indi

·        Grupo Azvi

Key Consultants ·        Instituto Nacional de Investigaciones Nucleares

·        TechnipFMC Plc

·        Ramboll Group

·        McDermott International Ltd

·        SENER Grupo de Ingenieria SA

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Mexico Construction Market Segmentation by Sectors

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

The key sectors in the Mexico construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.

Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. An improvement in tourism activity along with investment in data centers, leisure and hospitality buildings, and retail buildings will drive the commercial sector’s growth over the forecast period.

Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. Investments in the construction of industrial parks and electric vehicle manufacturing facilities will drive the sector’s growth during the forecast period.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. Investments in road and railway infrastructure projects will support the sector growth over the forecast period.

Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. Investments in renewable energy and oil projects will drive the sector growth during 2026-2027.

Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. An improvement in investments in healthcare and educational buildings will fuel the growth of the institutional construction sector during the forecast period.

Residential construction: The project types in this sector include single-family housing and multi-family housing. Public and private investments in affordable housing construction will drive the sector growth over the forecast period.

Mexico Construction Market Analysis by Sectors, 2022 (%)

Mexico Construction Market Analysis by Sectors, 2022 (%)

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Mexico Construction Market - Competitive Landscape

Empresas ICA SAB de CV emerged as the leading contractor and Instituto Nacional de Investigaciones Nucleares as the leading consultant in the Mexico construction market in 2022

A few of the leading contractors in the Mexico construction market are:

  • Empresas ICA SAB de CV
  • Mota-Engil SGPS SA
  • Grupo Carso SA de CV
  • Grupo Indi
  • Grupo Azvi

Foreign contractors account for most of the project pipeline in the Mexico construction market.

Mexico Construction Market Analysis by Contractors, 2022 (%)

Mexico Construction Market Analysis by Contractors, 2022 (%)

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A few of the leading consultants in the Mexico construction market are:

  • Instituto Nacional de Investigaciones Nucleares
  • TechnipFMC Plc
  • Ramboll Group
  • McDermott International Ltd
  • SENER Grupo de Ingenieria SA

Consultants with headquarters outside Mexico are involved in most of the project pipeline by value.

Mexico Construction Market Analysis by Consultants, 2022 (%)

Mexico Construction Market Analysis by Consultants, 2022 (%)

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Mexico Construction Market - Latest Developments

  • In December 2023, the Mexican tourism development company announced its plans to construct an ultra-luxury resort project on the coast of Jalisco. The first project, named Xala project, will include the construction of two luxury hotels and is expected to be completed by 2025.
  • In October 2023, China-based Lingong Machinery Group (LGMG) announced its plan to construct an industrial park in Mexico’s northern state of Nuevo Leon. The project includes the construction of three industrial clusters, which will be used for processing, manufacturing, warehousing, and logistics services.

Segments Covered in the Report

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

  • Commercial Construction
  • Industrial Construction
  • Infrastructure Construction
  • Energy and Utilities Construction
  • Institutional Construction
  • Residential Construction

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

Table

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

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, $ Million, 2017 Prices and Exchange Rate), 2018–27

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

Figure 7: Mexico, Construction Projects Momentum Index

Figure 8: Latin America, Construction Projects Momentum Index

Figure 9: Mexico, Commercial Construction Output by Project Type (Real, $ Million), 2018–27

Figure 10: Mexico, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 17: Mexico, Value-Add of Artistic, Cultural, Sports and Other Related Activities (MXN Billion, 2018 Prices)

Figure 11: Mexico, Industrial Construction Output by Project Type (Real, $ Million), 2018–27

Figure 12: Mexico, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 13: Mexico, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27

Figure 14: Mexico, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 15: Mexico, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27

Figure 16: 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, 2018 Prices)

Figure 17: Mexico, Institutional Construction Output by Project Type (Real, $ Million), 2018–27

Figure 18: Mexico, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

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

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

Figure 21: Mexico, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 22: Mexico, Headquarters of Key Consultants (% of Total Project Pipeline)

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