Construction

We drive the growth of the sector with technological innovations and adaptive strategies to meet current challenges

Industries

Projections and Key Factors in Construction

The construction sector projects remarkable long-term growth, anticipating an 85% increase in global production by 2030.

The construction market in Latin America is estimated at US$675.99 billion in 2024, with projected growth to reach US$842.52 billion by 2029, representing a compound annual growth rate of 5% over the forecast period (2024-2029). This region, encompassing diverse nations with varying political and economic contexts, is experiencing an expansion in its construction industry, driven by several dynamic factors.

The growing demand for real estate and infrastructure in Latin America is driving the construction market, facilitated by government projects and policies that promote its production. However, limited access to financing hinders the execution of large-scale projects, primarily affecting smaller construction companies. Furthermore, a shortage of skilled labor, especially in technical fields such as engineering and architecture, presents another challenge to completing projects on time and within budget.

Growth in Financial Services in 2030

3.9 %

This is the average annual growth rate of the global construction market until 2030.

15.5 B

It is the estimated growth of the industry’s production volume (2015-2030) worldwide

70 %

Global growth in construction will be represented by: China, USA, India, Indonesia, UK, Mexico, Canada and Nigeria until 2030.

10 Strategic Challenges 2026

1

Decarbonization and Clean Energy

The transition to cleaner and more sustainable energy sources is a global priority. A significant increase in renewable energy generation capacity is expected by 2030, with more than 500 gigawatts added. Furthermore, investment in clean energy has already seen remarkable growth of 40% since 2020, indicating a positive shift towards a more sustainable and responsible energy model.

2

Digitization and Automation

Augmented reality (AR) facilitates the transfer of design information to the field, improving construction feasibility and collaboration between the office and the site. Drones, meanwhile, enable precise, risk-based inspections, reducing costs and waste while increasing construction safety. It is estimated that the use of drones has reduced waste and increased the accuracy of inventory control and safety standards by 55%.

3

Modular or prefabricated construction and electric vehicles

The growing popularity of electric vehicles (EVs) is transforming the transportation and energy sectors. EV sales are expected to increase sevenfold by 2030, reducing demand for fossil fuels and increasing demand for electricity. This presents both challenges and opportunities for the oil sector, which will need to adapt strategically.

4

Artificial intelligence and data

Construction trends combine AI and data to improve efficiency and decision-making. Cloud platforms and IoT enable real-time analytics and reduce carbon footprints. Digital transformation is redefining the industry, with owners leading the innovation.

5

Biomaterials

Construction generates 11% of global greenhouse gas emissions, with embodied carbon accounting for 30%. The building stock is projected to double by 2060. The biomaterials sector, particularly cement, is key to reducing emissions. Innovations such as self-replicating concrete and self-healing biocement are being developed to address this challenge.

6

Renewable energy and self-sufficiency in construction

The implementation of renewable energy systems, such as solar panels and wind turbines, along with the design of energy-self-sufficient buildings, is shaping the future of construction. These approaches not only optimize resource use and reduce carbon emissions, but also enable buildings to efficiently generate and manage their own energy, contributing to sustainability and the development of greener infrastructure.

7

Circular economy and construction

It focuses on recycling materials, reducing waste, and reusing components. By integrating these principles, companies can lower costs through resource recovery and reuse, enhance their image by adopting sustainable practices, and comply with environmental regulations. Furthermore, it fosters innovation and efficiency in material use, contributing to greener and more economical construction.

8

Smart cities

The rise of smart cities is transforming construction by using technologies like the Internet of Things (IoT) to improve urban efficiency. Global spending on these cities was $124 billion in 2020 and is projected to reach $676 billion by 2028. Approximately 60% of building managers in the US are already familiar with IoT. A prime example of this trend is Toyota's project.

9

Robotics and automation

Robotics and automation are increasingly being used in construction for tasks such as bricklaying, 3D printing of structures, and materials handling. These technologies can increase precision and reduce costs, as well as increase efficiency, reduce risks to workers, and allow for the creation of more complex and precise structures.

10

Smart energy technologies

The integration of smart energy management technologies, such as automated control systems and renewable energy technologies, is gaining traction. This includes the use of solar energy systems, building energy management, and storage solutions. All of this improves energy efficiency and reduces operating costs, while also helping companies meet their sustainability and emissions reduction goals.

Our experts

Roberto Martínez Elizondo

Former executive in Organizational Development and Human Resources at companies such as Grupo Protexa, Aceromex, and Grupo Multimedios, among others. Holds a Bachelor's degree in Psychology, a Master's degree in Organizational Development, and a specialization in Family Business Management from the University of Monterrey (UDEM).

Boris Dimitrijevic

Marketing consultant specializing in various business groups in Latin America. Former Marketing Manager at Coca-Cola Peru. Ph.D. in International Business and Marketing from the Polytechnic University of Catalonia.

Héctor Díaz Saénz

Specialist in Leadership and Organizational Culture, accredited by Human Synergistics International. Performance Coach for Entrepreneurs. Ph.D. in Organizational Communication (with a specialization in Leadership and Organizational Culture), from the University of Texas at Austin.

Victor Carrera Torres

M.Sc. in International Business from Georgia State University. M.Sc. in Industrial Engineering from the Georgia Institute of Technology. Former executive at Coca-Cola, USA.

Eduardo Flores Montes

Industrial Engineer with a postgraduate degree in Operations Management from the University of Cologne, Germany. Former General Manager of Sudamericana de Fibras in Brazil; General Manager of Bayer Industrial in Peru; General Manager of Metalúrgica Peruana.

Luis Cantú González

Bachelor's degree in Business Administration from CEU, Monterrey. Former Executive Director, Director of Administration and Finance, and Director of Control and Information Technologies at Grupo Protexa.

Jaime Alonso Gómez

Ph.D. in Administrative Sciences and Applied Economics from The Wharton School, University of Pennsylvania, USA. Consultant in Asia, the Americas, and Europe. Former Distinguished Visiting Professor at the following business schools: MIT, Harvard, California, and Austin, Texas.

José Luis Gorriti

MBA from ESAN, postgraduate degree in quality management from Osaka, Japan. Consultant specializing in strategic planning and balanced scorecards for business groups in Mexico, Peru, Brazil, Argentina, and Colombia. Former Executive and Board Member at Bayer Industrial Peru.

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