麦肯锡-基础设施时刻-投资于不断扩大的现代社会基础（英）

The infrastructure momentSeptember 2025Investing in the expanding foundations of modern societyAuthorsAlastair Green Ishaan Nangia Nicola SandriTable of contents Foreword .................................................................................................................... 1Executive summary ..................................................................................................2‘New’ infrastructure means new investment potential ....................................4Infrastructure verticals are getting more interdependent .....................................................8New infrastructure’s $106 trillion opportunity ...........................................................................9About the research ...........................................................................................................................10Projected investment needs by vertical .....................................................................................10What’s driving the infrastructure shift ..............................................................12Infrastructure must be refreshed or upgraded around the world .....................................12Urbanization and demographic shifts are adding to the pressure on infrastructure .............................................................................................................13Digital technology and AI are driving advances in infrastructure.......................................13The global transition to cleaner energy is progressing ........................................................14Private capital has emerged as a key force in infrastructure financing but faces challenges ................................................................................................................................15The geopolitical landscape is upending investment decisions and trade .......................15Ongoing labor shortages are affecting infrastructure projects .........................................16A closer look at infrastructure verticals ............................................................ 17Transportation and logistics .......................................................................................................... 17Energy, power, and resources ......................................................................................................20Digital infrastructure .......................................................................................................................22Waste and water ...............................................................................................................................29Agriculture ..........................................................................................................................................33Defense ..................................................................................................................................