Mongolia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
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Mongolia Construction Market Report Overview
The Mongolia construction market size was $3.2 billion in 2022 and is projected to achieve an AAGR of more than 4% during 2024-2027. Investments in the tourism sector, oil and gas sector, electricity, housing, and mining sectors will support market growth during 2024-2027. The government’s “Vision-2050” framework involving the construction of a new settlement zone in Khushigt Valley will propel the forecast period growth. In addition, the improvement and development of new education systems, business hubs, tourism, and culture will stimulate growth in the economy in the forthcoming years.
Mongolia Construction Market Outlook, 2022-2027 ($ Billion)
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The Mongolia construction market research report provides detailed market analysis, information, and insights into the Mongolia construction industry including the industry’s growth prospects by market, project type, and construction activity. The report also delivers critical insight into the impact of industry trends and issues and an analysis of key risks and opportunities in the Mongolia construction industry. It also analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report discusses the sectors in the construction market and provides an overview of each sector along with their driving factors.
Market Size (2022) | $3.2 billion |
AAGR (2024-2027) | >4% |
Forecast Period | 2023-2027 |
Historical Period | 2018-2022 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
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Mongolia Construction Market Segmentation by Sectors
Residential construction was the leading sector in the Mongolia construction market in 2022.
The key sectors in the Mongolia construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.
Commercial construction: The government’s focus on reviving the tourism sector, coupled with investment in wholesale and retail construction will support the commercial sector’s growth over the forecast period.
Industrial construction:The industrial sector growth can be attributed to the government’s focus on the development of raw material processing plants, the manufacturing industry, as well as an improvement in external demand and the wider economy.
Infrastructure construction: The growth of the infrastructure sector can be attributed to the government’s focus on the enhancement of regional connectivity through the development of road, rail, and airport infrastructure.
Energy and utilities construction:The government’s focus on the development of the oil and gas, telecommunications, and renewable energy sectors in line with its aim to reduce greenhouse gas emissions are expected to drive the sector’s growth during the projected period.
Institutional construction: The institutional construction sector growth is driven by the government’s focus on the development of educational and healthcare facilities. Additionally, the education sector will be driven by the government’s focus on developing education infrastructure as part of the “Vision-2050” framework.
Residential construction: The government’s focus on increasing the supply of affordable housing through the Ulaanbaatar Green Affordable Housing and Resilient Urban Renewal Sector Program is the main drive for the residential construction sector growth in Mongolia. The program involves the construction of several affordable homes across 20 districts of Ulaanbaatar between 2025 and 2029. Mongolia’s increasing urban population is also expected to attract investment in the construction and renovation of residential buildings.
Mongolia Construction Market Analysis by Sectors, 2022 (%)
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Mongolia Construction Market – Latest Developments
- The largest project in the pipeline is the National Railway Network which involves the phase-wise construction of a railway line. It includes the construction of new railway stations, bridges, and supporting structures and the installation of security systems and lighting systems.
- In September 2023, the Asian Development Bank (ADB) approved a loan to improve the efficiency and safety of road transport in Mongolia. The loan will be used to finance phase 3 of the Regional Road Development and Maintenance Project that will improve state road network sections between Western Mongolia to Uliastai (Zavkhan) and Khovd (Khovd) to Ulaangom (Uvs).
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Segments Covered in the Report
Mongolia 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 Mongolia.
- Historical and forecast valuations of the construction industry in Mongolia, 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
Table
Figures
Frequently asked questions
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What was the Mongolia construction market size in 2022?
The construction market size in Mongolia was $3.2 billion in 2022.
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What is the Mongolia construction market growth rate?
The construction market in Mongolia is projected to achieve an AAGR of more than 4% during 2024-2027.
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Which was the leading sector in the Mongolia construction market in 2022?
Residential construction was the leading sector in the Mongolia construction market in 2022.
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