Global construction markets are navigating a shifting landscape as supply chain pressures ease and trade tensions evolve across key regions. While geopolitical risks remain, construction cost escalation is becoming increasingly concentrated in materials and equipment, particularly metals tied to electrification, infrastructure and data center development.
Materials costs continue to rise as supply constraints in copper and aluminum persist, while equipment pricing accelerates amid demand from grid modernization and digital infrastructure projects. At the same time, labor cost growth is moderating across many markets, although shortages in specialized trades remain a challenge.
Looking ahead, improvement across the global construction sector will depend on greater geopolitical stability, increased certainty in North American trade policy and relief from metals supply constraints. Construction activity remains uneven, with infrastructure, energy and data center projects driving growth while many traditional commercial real estate sectors face headwinds.
The Construction Insights for Global Occupiers report provides analysis of the economic, cost, labor and activity trends shaping global construction markets, helping organizations make informed project and investment decisions.
Key Trends and Challenges:
- Supply chain pressures are easing globally, though geopolitical disruptions continue to create risks for costs and logistics.
- Materials and equipment costs are driving construction cost escalation, fueled by metals supply constraints and demand from electrification and data center investment.
- Infrastructure and data center projects continue to support growth while broader commercial development remains subdued.
Download the full report to explore the forces influencing construction costs, labor markets and project activity across global markets in 2026 and beyond.
