Latin America Construction Market is Expected to Reach USD 514.29 Billion by 2030

Collaboration among numerous stakeholders is driving the Latin America construction market growth during the forecast period

The Latin America Construction Market size was valued at USD 464.50 billion in 2024, and is projected to grow to USD 491.83 billion in 2025. Additionally, the industry is expected to continue its growth trajectory, reaching USD 514.29 billion by 2030, with a CAGR of 0.9% from 2025 to 2030, according to new research by Next Move Strategy Consulting.

The construction market in Latin America, encompassing both real estate and infrastructure, plays a central role in driving economic advancement by overseeing the full lifecycle of physical structures, including buildings and public facilities. This sector includes a broad array of projects such as residential, commercial, industrial developments, and civil and institutional infrastructure. A prominent example is Brazil’s USD 2.5 billion Porto Maravilha urban redevelopment project in Rio de Janeiro, which advanced in 2024 through public-private partnerships. 

The initiative focuses on transforming the port area with new residential buildings, commercial hubs, and cultural venues. Strong collaboration among various stakeholders, including architects, engineers, contractors, suppliers, developers, investors, and government entities like the Brazilian Development Bank, has played a pivotal role. In 2024, private investors contributed 70% of the project’s funding. This expansive scope and coordinated stakeholder involvement, supported by the National Confederation of Industry, are driving substantial growth in Brazil’s construction sector.

However, regulatory complexities impose a major challenge within the construction market. Infrastructure projects encounter difficulties due to a layered system of government regulations and permitting procedures. These initiatives require extensive approvals from authorities at the local, regional, and national levels. Compliance involves zoning regulations, environmental evaluations, building code standards, safety requirements, and additional statutory criteria. Delays in permit processing, bureaucratic inefficiencies, and jurisdictional inconsistencies extend project timelines and increase costs. Policy fluctuations or unexpected regulatory shifts interrupt active developments and discourage investor confidence in infrastructure ventures.

On the other hand, the construction industry is undergoing a significant digital evolution driven by the widespread use of Building Information Modeling. BIM improves digital design, simulation, and infrastructure oversight by enhancing precision, coordination, and resource management. Reflecting this shift, ALLPLAN launched Allplan 2024-1 in April 2024 to upgrade BIM features and refine cloud-based project workflows, marking a clear transition toward fully digital project execution. The integration of artificial intelligence, the Internet of Things, and cloud platforms advances real-time teamwork, predictive equipment management, and streamlined facility operations.

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Several market players operating in the Latin America construction industry include Camargo Correa Construction Company, Techint Engineering & Construction, Sudamericana Construction Company SA, Criba Construcciones, SalfaCorp SA, Besalco, Odebrecht, Sigdo Koppers S.A., Constructora MECO S.A., Echeverria Izquierdo, OECI, IDEAL, S.A.B. de C.V., Cyrela Urbanismo, Andrade Gutierrez, and others.

Key Insights from the Latin America Construction Market Report:

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

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

• The report provides the Latin America construction market share of key players, along with a detailed competitive analysis.