Global grid spending increased from $300 billion in 2020 to $480 billion in 2025. Looking ahead, $5.8 trillion of cumulative grid investment is forecasted globally between 2026–2035, with 12% ($700 billion) projected for digital-related grid capex.
In the U.S., grid investment is expected to hit ~$1 trillion over the coming decade, split between transmission (37%) and distribution (63%). U.S. private capital indicates investors also see a growing opportunity, with volumes increasing from $3.2 billion in 2021 to $6.6 billion in 2025.
In Europe, cumulative grid investment is projected to reach ~$1.1 trillion between 2026–2035, with Germany currently representing the single largest current grid investor at 28% of 2024 investment levels.
In Asia Pacific, cumulative grid investment is projected to reach ~$2.6 trillion over the next decade, with China representing more than two-thirds of all grid investment in the region.