Infrastructure Pulse Survey Report: Spring 2026, North America and Europe
The Infrastructure Pulse Survey Report for Spring 2026, published by Alvarez & Marsal in collaboration with the Global Infrastructure Investor Association (GIIA), offers an insight into how investors across North America and Europe are reading the current investment landscape through a period of macroeconomic and geopolitical uncertainty.
Key Findings Include:
Canada has emerged as the most attractive infrastructure investment market for the first time since the survey launched in 2020, driven by the government’s “Nation Building” agenda, large-scale federal infrastructure commitments and efforts to accelerate major project delivery. Germany also continues to strengthen its position as a leading European market, supported by significant infrastructure funding initiatives and a strong policy commitment to climate neutrality.
While infrastructure fundraising reached record levels in 2025, with nearly $300 billion raised globally, investors remain increasingly selective in capital deployment. Larger platforms and assets with regulated or contracted revenue streams continue to attract the strongest interest as investors navigate ongoing geopolitical uncertainty, inflation concerns and shifting policy environments.
The survey highlights growing momentum behind sectors tied to rising power demand, digitalization and the energy transition. Battery Energy Storage Systems (BESS), renewable energy, data centers and grid infrastructure emerged as some of the most attractive investment opportunities across both North America and Europe.
Looking ahead, investors are adapting to a “new normal” shaped by geopolitical complexity and accelerating digital transformation. As governments seek to modernize critical infrastructure and meet sustainability goals, clear and credible policy frameworks will remain essential to unlocking long-term private investment.
View our key findings from the 2020, 2021, 2022, 2023, 2024 and 2025 reports:
