Mexico Construction Market Report and Forecast 2024-2032

Mexico Construction Market Size

The Mexico construction market is projected to grow at a CAGR of 2.5% between 2024 and 2032.  The market is being fuelled by the introduction of favourable government initiatives aimed at boosting infrastructural development.

Key Takeaways

• New construction is expected to dominate the market growth over the forecast period.

• Real construction in the Mexican petrochemical and oil sector has doubled since 2018.

• Private sector investments in Mexico’s construction sector have increased by more than 40% since 2019.

In order to provide specialised care and support to people battling terminal illnesses in Mexico, there has been a surge in the construction of hospice care centres. For instance, in March 2024, Mitigare Cuidados Paliativos A.C. announced the construction of Phase I of Mitigare Hospice Care in San Miguel de Allende which is supposed to be completed by September 2024. Phase II of the project is scheduled for construction in 2026. Hence, the expansion of healthcare infrastructure is expected to accelerate the Mexico construction market growth in the forecast period.

Government investments in public works projects have tripled since 2022 in Mexico, which has also boosted the market expansion. The Tren Maya Project, the Tehuantepec Isthmus Interoceanic Corridor, and the Dos Bocas Refinery Complex are some of the key construction projects in southern Mexico states. Moreover, private sector investment in Mexico’s construction centre has increased by more than 40% in the last five years and is expected to continue, driving the Mexico construction market expansion.

Investments in the construction of industrial, commercial, and service buildings in Mexico have increased by more than 50% since 2020 and are gradually approaching a value of $10 billion yearly. This is one of the key Mexico construction market trends. With the anticipated recovery of housing construction in Mexico, the overall market is poised for significant growth over the forecast period.

Market Segmentation

Mexico Construction Industry Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments

Market Breakup by Construction Type

• New Constructions

• Renovation

Market Breakup by End Use

• Commercial

• Residential

• Industrial

Market Breakup by Region

• Baja California

• Northern Mexico

• The Bajío

• Central Mexico

• Pacific Coast

• Yucatan Peninsula

The key Mexico construction market players are Grupo Carso, Impulsora del Desarrollo Y El Empleo En America Latina SAB de CV, Mota-Engil Group, Techint E&C S.A., Promotora y Operadora de Infraestructura, S.A.B. de C.V., Aleatica S.A.U., Grupo Indi, Sa De Cv, Grupo GP, COCONAL, SAPI de CV, Javer, SAB de CV, and Constructora y Edificadora GIA+A, SA de CV, among others.

Key Highlights of the Report