Mongolia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028
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Mongolia Construction Market Report Overview
The Mongolia construction market size was $3.5 billion in 2023. The market will achieve an AAGR of more than 4% during 2025-2028. Over the forecast period, the market growth can be attributed to the investment in the transport, electricity, housing, and mining sectors.
Mongolia Construction Market Outlook, 2023-2028 ($ Billion)
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The Mongolia construction market research report gives a comprehensive understanding of project types and construction activities in the country. The report analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. Furthermore, the market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence Mongolia’s construction market growth in the coming years.
Market Size (2023) | $3.5 billion |
AAGR (2025-2028) | >4% |
Forecast Period | 2023-2028 |
Historical Period | 2019-2022 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
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Mongolia Construction Market Segmentation by Sectors
The residential construction sector accounted for the highest market share in the Mongolia construction market in 2023
The key sectors in the Mongolia construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.
Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. Over the forecasted period, the government’s focus on reviving the tourism sector, coupled with investment in wholesale and retail construction will support the commercial sector’s output.
Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. Growth during the forecast period can be attributed to investment in the manufacturing sector, coupled with the government’s aim to increase investment in the mining and metals sector and an improvement in external demand and the wider economy.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. Over the forecast period, public and private sector investment in road, rail, port, and airport projects, in line with the government’s focus on developing transport infrastructure, will support the sector’s growth.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The government’s focus on the development of renewable energy sources in line with its aim to reduce greenhouse gas emissions compared to 2010 levels will support the sector’s growth. Furthermore, the government’s intention to reduce the country’s dependency on coal power will also support the sector’s growth during the forecast period.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. The sector’s growth during the forecast period can be attributed to the government’s focus on the development of educational and healthcare facilities in the country.
Residential construction: The project types in this sector include single-family housing and multi-family housing. Over the forecast period, the sector’s growth can be attributed to government housing fund schemes and its focus on increasing the supply of affordable housing.
Mongolia Construction Market Analysis by Sectors, 2023 (%)
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Mongolia Construction Market - Latest Developments
- The largest project in the pipeline is the National Railway Network, which is in the execution stage, and involves the phase-wise construction of a railway line. It includes the construction of new railway stations, bridges, and supporting structures and the installation of security systems and lighting systems.
- Another notable project in the pipeline is the Shivee-Ovoo Coal-Fired Power Plant project. The project involves the construction of a coal-fired power plant at the Shivee-Ovoo mine in Mongolia.
Segments Covered in the Report
Mongolia Construction Sectors Outlook (Value, $ Billion, 2019-2028)
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
Scope
This report provides a comprehensive analysis of the construction industry in Mongolia. It provides:
- Historical and forecast 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 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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Frequently asked questions
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What was the construction market size in Mongolia in 2023?
The construction market size in Mongolia was $3.5 billion in 2023.
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What will the Mongolia construction market growth rate be during the forecast period?
The construction market in Mongolia is projected to achieve an AAGR of more than 4% during 2025-2028.
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Which sector accounted for the highest share of the Mongolia construction market in 2023?
The residential construction sector accounted for the highest market share in the Mongolia construction market in 2023.
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Which are the project types in the Mongolian residential construction sector?
The project types in the Mongolian residential construction sector include single-family housing and multi-family housing.
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