Mongolia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2030 (H2 2026)

Summary

The analyst forecasts the Mongolian construction industry to register real-terms growth of 6.1% in 2026, supported by an improvement in employment conditions in the construction industry, coupled with budgetary allocations and investment toward energy and infrastructure projects. According to the National Statistics Office of Mongolia (NSO), construction value-add grew by 7.4% year on year (YoY) in Q2 2026, preceded by YoY growth of 9.5% in Q1 2026 and 11.2% in Q4 2025. Also, employment in the construction industry registered a YoY growth rate of 1.8% in H1 2026, preceded by an annual growth of 8.5% in 2025. Among the recent investments, in August 2026 the mayor of Ulaanbaatar signed a Memorandum of Understanding (MoU) with the Seoul-based Global Green Growth Institute (GGGI), with the aim of attracting MNT962.3 billion ($250 million) in investment for green energy projects.

Over the remainder of the forecast period, the Mongolian construction industry is expected to register an average growth rate of 3.7%, driven by investment in the infrastructure and energy sectors, underpinned by Mongolia’s State Policy on Energy (2015-2030). Under this policy framework, renewable energy is targeted to account for 30% of the country’s installed energy capacity by 2030, increasing from 20% of the total capacity in 2024, alongside a national objective to reduce greenhouse gas emissions by 22.7% by 2030 compared to 2019 levels. To support this, in June 2026, the Ministry of Energy opened a tender for five solar-plus projects with a combined capacity of 110MW connected to 52MW of battery energy storage systems (BESS). In another positive development, in May 2026, construction of Thermal Power Plant No. 5 (TPP-5) started on a 15.3ha site in Bayangol. The project will have a generating capacity of 300MW. TPP-5 is being developed through a public-private partnership and is scheduled for completion in 2028 with a total investment of MNT2.5 trillion ($658.6 million).

The analyst’s Construction in Mongolia - Key Trends and Opportunities to 2030 (H2 2026) report provides detailed market analysis, information, and insights into the Mongolian construction industry, including:

The Mongolian 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 Mongolian 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 Mongolia. It provides:

Historical (2021-2025) and forecast (2026-2030) 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 our 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 business strategies using the analyst's critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors

1 Executive Summary2 Construction Industry: At-a-Glance3 Latest news and developments4 Project analytics5 Construction Market Data6 Risk Profile

7 Appendix

7.1 Definitions
7.2 CRI Methodology

About the Analyst
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List of Tables

Table 1: Construction Industry Key Data
Table 2: Mongolia, Top Construction Projects by Value
Table 3: Mongolia Construction Output Value (Real, $ Million)
Table 4: Mongolia Construction Output Value (Nominal, MNT Billion)
Table 5: GlobalData Construction Market Definitions
Table 6: GlobalData Construction Risk Definitions
Table 7: Ratings, Scores and Definitions

List of Figures

Figure 1: Mongolia, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2021-30
Figure 2: Mongolia, Construction Output Value, by Sector (Real, $ Million), 2021-30
Figure 3: North-East Asia, Construction Output (Real % Change), 2024-30
Figure 4: Mongolia, Construction Output by Sector (Real % Change), 2024-26 and 2027-30
Figure 5: Mongolia, Construction Value-add (MNT Billion, 2015 Constant Prices)
Figure 6: Mongolia, Construction Cost Index (2024=100)
Figure 7: Mongolia, FDI in Construction Industry, (In $ Million)
Figure 8: Mongolia, Construction Employment, (Number)
Figure 9: Mongolia, Housing Price Index (2023 January = 100, Calculated Using Regression Model)
Figure 10: Mongolia, Wholesale and Retail Trade Value-add (MNT Billion, 2015 Constant Prices)
Figure 11: Mongolia, Manufacturing Value-add (MNT Billion, 2015 Constant Prices)
Figure 12: Mongolia, FDI in Manufacturing Sector, ($ Million)
Figure 13: Mongolia, Mining and Quarrying Value-add (MNT Billion, 2015 Constant Prices)
Figure 14: Mongolia, Exports (In $ Million)
Figure 15: Mongolia, Number of Inbound Tourists
Figure 16: Mongolia, Real Construction Wage Index (2023=100)
Figure 17: Mongolia, Construction Projects Pipeline, Value by Stage ($ Million)
Figure 18: Mongolia, Risk Summary
Figure 19: Mongolia, Risk Regional Comparison

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