Establishment of new manufacturing and industrial facilities in the region is driving the Mexico construction market demand, during the forecast period.

The Mexico Construction Market size was valued at USD 277.42 billion in 2023, and is predicted to reach USD 604.58 billion by 2030, at a CAGR of 10% from 2024 to 2030, according to the new research by Next Move Strategy Consulting.

The establishment of new manufacturing and industrial facilities in Mexico is propelling the construction market expansion in Mexico. According to Business Monitor International (BMI), Mexico's construction sector is poised to sustain its recovery following a significant 17.6% decline in 2020. 

BMI also predicts growth rates of 0.4% in 2022 and 1.1% in 2023, with an average annual growth rate of 2.8% from 2023 to 2032. This projected growth trajectory indicates a promising shift towards stability and expansion in Mexico's infrastructure sector.

Nevertheless, the Mexico construction market encounters significant challenges due to the intricate nature of government regulations and permitting processes. These procedures typically entail obtaining various permits and approvals from local, regional, and national authorities, covering zoning regulations, environmental assessments, building code compliance, safety standards, and other regulatory requirements.

Delays in permit acquisition, bureaucratic inefficiencies, and inconsistencies in regulations across jurisdictions can substantially prolong project timelines and increase costs. Additionally, fluctuations in regulations or unforeseen policy changes can disrupt ongoing projects and deter future investments.

For example, the United States Environmental Protection Agency (EPA) oversees various aspects of the construction sector, including air quality, lead management, waste disposal, and water regulations. The EPA's compliance assistance centers offer resources to manage environmental responsibilities during demolition, reduce and recycle construction and demolition materials, and dispose of refrigeration and air-conditioning equipment.

Conversely, digital transformation and the adoption of Building Information Modeling (BIM) are revolutionizing the Mexico construction market by integrating state-of-the-art technologies to enhance efficiency, accuracy, and collaboration across projects.

BIM, a sophisticated 3D modeling tool, empowers stakeholders to generate and manage digital representations of structures and infrastructure, thereby improving coordination and communication among project teams.

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Several market players operating in the Mexico construction industry include China State Construction Engineering Corp. Ltd. (CSCEC), China Railway Group Ltd. (CREC), China Railway Construction Corp. Ltd. (CRCC), China Communications Construction Group Ltd. (CCCC), Metallurgical Corporation of China Ltd. (MCC), Power Construction Corp. of China, Vinci SA, China Energy Engineering Corp. (CEEC), Shanghai Construction Group (SCG), Bouygues Group, and others.

Key Insights from the Mexico Construction Market Report:

• The information related to the key drivers, restraints, and opportunities and their impact on the Mexico construction market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of the key players in the Mexico construction industry is provided in the report along with their competitive analysis.