The Mexican industry is undergoing a significant transformation thanks to the phenomenon of nearshoring (relocation of production lines), which has strengthened the commercial relationship with the United States.
The number of industrial parks in Mexico has grown by 70% , going from 273 in 2019 to 460 at the end of 2023, according to the Mexican Association of Private Industrial Parks (AMPIP) .
Additionally, CBRE ‘s LATAM 2024 Investor Sentiment survey reveals that in Mexico there will be an increase in real estate investments , with a particular emphasis on the manufacturing sector . Monterrey, Mexico City and Tijuana stand out as the main markets for investment.
Likewise, the survey shows that more than 40% of Mexican investors intend to increase their real estate purchases this year, driven by strong demand for manufacturing space.
Similarly, the increase in demand for industrial spaces is also reflected in the construction sector . According to data from the Solili platform , industrial construction in Mexico reached 5.6 million square meters (m2) at the end of 2023 , an increase of 5.7% compared to 2022.
For their part, Monterrey, Mexico City and Saltillo led this growth with increases of 20%, 36% and 24%, respectively. The relocation of companies, especially Asian ones, has been a key factor in this boom, with more than 350 industrial projects started in 2023.
In that sense, Francisco Tijerina, business development director at ESCALA , a company dedicated to construction project management, highlights that the company closed 2023 with 60 new projects, reflecting the positive impact of nearshoring .
“These projects represented an investment of 17 billion pesos and nearly 1.5 million m2 built,” Tijerina said in a press release.
By 2024, Tijerina predicts that the adoption of advanced technologies such as artificial intelligence, drones and modular construction will continue to transform the construction sector, improving efficiency and reducing costs.
Despite growth, the sector faces significant challenges in electricity supply.
An AMPIP study indicates that 91% of industrial parks in Mexico reported failures in energy provision during the last year, affecting key regions such as Mexico City, Nuevo León, Coahuila, Chihuahua, Guanajuato and Jalisco.
This problem is aggravated because the industrial sector consumes 62% of the national electricity.
In response to these challenges, the company Enlight has introduced the “Net Zero Fund”, a $50 million fund to finance the installation of solar panels and energy storage systems on industrial properties throughout Mexico.
In that sense, the implementation of clean and sustainable energy solutions is crucial to guarantee the continued growth and competitiveness of the Mexican industrial sector in the future.
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