Infrastructure Pulse Survey Report: Q4 2025, North America and Europe
The Infrastructure Pulse Survey Report for Q4 2025, by Alvarez & Marsal in collaboration with Global Infrastructure Investor Association (GIIA), provides valuable insights into market sentiment from leading investors around the world. Our biannual survey tracks investor confidence and emerging trends in infrastructure across Europe, Australia, and the Americas
Key Findings Include:
The US has reclaimed its position as the most attractive market for infrastructure investment, a shift largely driven by the growing focus on AI technologies and the increasing demand for data centers, which are foundational to the digital economy.
In Europe, markets appear to have stabilized, returning to long-term trends after periods of uncertainty. The UK is showing signs of recovery, with investor sentiment improving thanks to a proposed regulatory reset aimed at addressing ongoing challenges in the market.
The survey also reveals a cautiously optimistic outlook among investors, with funding and project pipelines showing promising growth. However, political instability continues to cast a shadow, creating a barrier to long-term confidence in some regions.
Looking ahead, the report sheds light on emerging trends that are shaping the future of infrastructure investment. These include the continued demand for data centers as digital transformation accelerates and the critical question of how realistic net zero targets are in the face of global challenges. The survey underlines the importance of balancing innovation with sustainability as infrastructure investors navigate this evolving landscape.
View our key findings from the 2020, 2021, 2022, 2023, 2024 and 2025 reports:
