PwC: Global infrastructure spending to top $150 trillion through 2050

Global infrastructure is entering an unprecedented investment cycle, with annual spending forecast to rise from US$4.4 trillion in 2024 to US$6.9 trillion in 2050, according to PwC’s Global Infrastructure Outlook.

Across the period, cumulative global investment is forecast to reach US$151.1 trillion, as countries modernize transport, power and industrial systems to meet the demands of AI, electrification and urbanization.

The outlook highlights that investment in power, transport and digital infrastructure will converge to create more intelligent networks, where traditional assets operate as part of connected, digitally enabled and electrified systems.

“This is not a traditional construction cycle,” said Clara Cutajar, Global Infrastructure Leader at PwC Australia. “This next generation of infrastructure will be intelligent, connected and adaptable—whether that’s roads built for autonomous vehicles and wireless charging or businesses running automated supply networks powered by clean energy and secure compute. Systems will need to anticipate demand, allocate resources dynamically and optimize performance—delivering structural productivity gains across every sector.”

The report says that transport and power will continue to be the biggest areas of investment, accounting for about half of global infrastructure spending to 2050. As mobility networks modernize and cities grow, annual transport spending is expected to rise from US$1.4 trillion in 2024 to US$2.4 trillion in 2050, representing a cumulative total of US$50 trillion.

Annual spending on both rail and airport infrastructure is predicted to nearly double from 2024 levels, with annual airport spending 1.9 times higher in 2050 at US$154.2 billion, and rail spending 1.8 times higher at US$675.3 billion in 2050.

Annual spending on power infrastructure is forecast to increase from US$631 billion in 2024 to US$1.1 trillion in 2050, totaling US$25 trillion over the period. Reflecting the pace of electrification, by 2050, annual investment in power storage will be nearly US$91 billion—3.7 times 2024 levels, while transmission and distribution spending will grow 2.6 times to US$472 billion, according to the report.

Between 2024 and 2027, annual investment in data center buildings is expected to rise 2.2 times, from US$113.8 billion to US$251.8 billion. Total investment from 2024 to 2032 will top US$1.5 trillion in a remarkable short-term escalation, which will be followed by a period focused on improving the utilization, efficiency, and adaptability of existing built stock.

The PwC analysis offers long-term infrastructure spending forecasts to 2050 for nine sectors, 20 subsectors and 45 countries and territories, which represent 88% of global economic output. It draws on the last 20 years of spending data and models future spending based on economic and policy factors.

Channel Impact^®
The report spotlights key areas of investment, providing channel partners with data that can be valuable in the development of strategy.