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Construction in Mexico - Key Trends and Opportunities to 2024 (July 2020)

Construction in Mexico - Key Trends and Opportunities to 2024 (July 2020)

Summary

Prior to the COVID-19 outbreak, GlobalData was expecting Mexico's construction industry to grow by 1.1% in 2020. However, with the emergence of pandemic and the government's slow and initially ineffective response to contain it, together with weakening investment, the construction industry is set to contract by 8% in 2020 - the sharpest contraction in decades. Further downward revisions are likely, if activity in the short term is more severely disrupted than currently anticipated.

According to the National Institute of Statistics and Geography (INEGI), Mexico's construction sector fell by 8.2% year-on-year in Q1 2020, the sharpest contraction since Q2 2001, going from MXN1.3 trillion (US$67.1 billion) in January-March 2019 to MXN1.2 trillion (US$61.2 billion) in January-March 2020. This compares to a decline of 5.7% in Q4 2019 and -0.2% in Q1 2019. However, the sector is estimated to have contracted at a sharper rate during Q2 2020, as formal construction activities were fully suspended across the country for about eight weeks during April and May 2020 amid government measures to slow the spread of the virus.
The CMIC expects the industry to continue to face difficulties in reviving operations due to its overall weakness. According to Eduardo Ramírez Leal, president of the CMIC, over 3,000 companies have been affected due to the pandemic. He also expects the industry to be weighed by the declining demand in residential and non-residential buildings. About 2,400 construction companies, mostly small and medium-sized, are at risk of permanently closing due to the halt in construction activities, according to CMIC. Enríque Leal said that approximately 80% of the businesses in the construction sector are very small, and have between two to 10 employees and no cash reserves to face the crisis.

While the government of President Andrés Manuel López Obrador is committed to move forward with its infrastructure plans to revive the Mexican economy and to loosen monetary conditions, which should help strengthen private consumption, limited public spending together with security issues and uncertainty over the President's policies will continue to restrain private investment in the country

This report provides detailed market analysis, information and insights into the Mexican construction industry, including -
- The Mexican construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Mexican construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline

Scope

This report provides a comprehensive analysis of the construction industry in Mexico. It provides -
- Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in Mexico, 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 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.
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Construction in Mexico - Key Trends and Opportunities to 2024 (July 2020)
Published By :GlobalData
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