Dublin, Oct. 04, 2023 (GLOBE NEWSWIRE) -- The "Mexico Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The publisher expects Mexico's construction industry to grow by 1.6% in real terms in 2023, following sluggish growth of just 0.3% in 2022.
This pick-up in growth will be supported by ongoing economic growth and an increase in corporate nearshoring investment and public infrastructure investment.
According to the National Institute of Statistics and Geography (INEGI), the construction industry recorded positive growth in Q1 2023, expanding by 2.1% year on year (YoY), and gross fixed capital formation on buildings rose by 3.2% in the first three months of 2023. This growth was driven by the non-residential buildings sector, which increased by 7% YoY during the same period.
Demand for new housing properties is expected to remain low in 2023, forcing developers to reassess the feasibility of planned residential developments. The slowdown in the residential sector is also attributed to high inflation, high interest rates, and an increase in household debts.
However, house prices remain high, this is in large part due to cost increases and high foreign direct investment, especially for high-value developments. The nationwide average house price index rose by 8.9% in 2022, following increases of 7.9% in 2021 and 5.8% in 2020, according to the Sociedad Hipotecaria Federal (SHF).
The construction industry is expected to register annual average growth of 2.6% in 2024-27, supported by investment in major infrastructure and energy projects. In March 2023, the Ministry of Infrastructure, Communications and Transport (SICT) announced its plan to direct MXN352 billion ($18.9 billion) in investment to implement 541 infrastructure projects during 2023-2025, which will help to support activity. In addition to this, the government's plan to increase the share of renewable energy in the total energy mix from 6% in 2021 to 21% by 2030, would help in driving investments into the renewable energy infrastructure
Scope
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Mexico's, 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
Reasons to Buy
- Identify and evaluate market opportunities using the publisher'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 the publisher's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
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
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/mivn69
Source: GlobalData
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