Global Critical Sectors 2026 Market Report

Wider context

The global economy is being transformed by geopolitical factors, supply side dynamics, and trade policy uncertainties.

Additionally, the convergence of issues affecting sectors Gleeds defines as critical (data centres, defence, infrastructure and energy) means their importance to the global economy can no longer be taken in isolation. How and where capital flows to one sector is having an increasing influence on investment in others.

Tariffs remain a source of uncertainty in 2026, following the outlawing of President Trump’s “Liberation Day” tariffs by the US Supreme Court.

Despite trade tensions and geopolitical instability, there is a resilience in the global economy.
According to the World Bank, growth is projected to remain stable over the next two years, easing to 2.6% in 2026 before rising to 2.7% in 2027 – an upward revision from the June 2025 forecast.

Assuming recent oil price hikes are not prolonged, Fitch Ratings also forecasts only a slight slowdown to the world economy this year at 2.6% growth.

Additionally, the IMF says the global economy has been aided by "tailwinds from surging investment related to technology, including artificial intelligence (AI)".

To avoid stagnation and joblessness, governments in emerging and advanced economies will look to liberalise private investment and trade, while investing in critical infrastructure projects, technologies and upskilling.

The emergence, therefore, of a more extensive, interconnected infrastructure ecosystem is creating significant opportunities and increasing critical infrastructure investment needs compared to previous decades.

For instance, as data centre clusters expand to facilitate AI, they draw heavily on national grids for power and water for cooling – bringing together digital, energy, and water infrastructure.
According to estimates, addressing the global need for new and improved infrastructure will require roughly $106 USD trillion in investment across these sectors by 2040.

Projected investment varies considerably by region, with Asia alone accounting for more than two-thirds at $70 USD trillion. This reflects the scale of demand amid Asia’s rapid urbanisation, with capital set to be deployed on transportation, energy, and digital connectivity.

Investment across these critical sectors in other regions is being driven by similar dynamics and replacing infrastructure which is no longer fit-for-purpose.

This report takes a look at each sector in a global context, with projects navigating converging investment flows, delivery and how Gleeds is supporting clients through these changes.