DUBLIN–(BUSINESS WIRE)–The “Mongolia Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)” report has been added to ResearchAndMarkets.com’s offering.
Construction industry in Mongolia to grow by 10.2% in real terms in 2024, with the sector supported by public and private sector investment into the development of energy, transport network, and residential construction projects.
According to the Mongolian National Statistics Office (NSO), the construction industry’s value add grew by 16.8% year on year (YoY) in Q2 2024, which was preceded by Y-o-Y growths of 27.7% in Q1 2024 and 2.4% in Q4 2023. The construction industry’s growth will also be supported by increase in foreign direct investment (FDI).
According to the NSO, FDI in the construction industry grew by 22.6% in the first six months of 2024, increasing from MNT25.1 billion ($6.6 million) in January-June 2023 to MNT30.8 billion ($8.1 million) in January-June 2024. Furthermore, the construction industry’s growth in 2024 will be supported by the government’s plan to allocate MNT2.4 trillion ($629.6 million) for the implementation of 56 new road and transport projects by the end of 2024, as it bids to improve regional connectivity among the provinces.
Over the remainder of the forecast period, The analyst expects the Mongolian construction industry to record an annual average growth of 4.6% between 2025 and 2028, with the industry supported by investment into transportation, electricity, housing, and mining sectors. Additionally, funding will be made available for construction works as part of the government’s “Vision-2050” framework. The “Vision-2050” framework includes the construction of a new settlement zone in Khashigt Valley, designed to accommodate 150,000 people by 2040, along with new settlement areas in Darkhan-Uul and Orkhon.
The framework also focuses on enhancing the education system, developing business hubs, and promoting tourism and culture to drive economic growth. Additionally, the government will aim to focus on developing renewable energy facilities, as it looks to reduce greenhouse gas emissions by 22.7% by 2030 compared to 2010 levels. As part of this pledge over the forecast period, there will be also efforts to decrease the country’s reliance on coal plants.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Mongolia, 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 analyst’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 analyst’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 Latest news and developments
4 Project analytics
5 Construction Market Data
6 Risk Profile
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/nrpkrd
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