3.5% 到 2035：全球基础设施缺口的挑战与对.pptxVIP

3.5%to2035:Bridging

theglobalinfrastructuregap

30July2025

Content

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ExecutiveSummary

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Theglobalrushforinfrastructure

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Beyondbricksandbytes:Mappingtheinfrastructureinvestmentfrontier

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Powershift:Infrastructuredemandsofthenet-zeroeconomy

25

Fromfundinggaptoinvestmentcore:Howprivatecapitalispoweringtheshift

AllianzResearch

2

•Overthenextdecade,theglobaleconomywillneedtoinvestnearly3.5%ofGDPperyear(USD4.2trn)tofuture-proofsocial,transport,energyanddigitalinfrastructureagainstmegatrendssuchasurbanization,supply-

chaindisruptionsandAI-drivendigitalization.Demographicshiftsand

urbanizationarekeydriversforinfrastructuredemandinemergingmarkets,whileaginginfrastructureneedsanupgradeindevelopingmarkets.At

thesametime,geopoliticaltensionsandpandemicdisruptionsexposed

thefragilityofsupplychains,promptingtheUSandEuropetoreshoreor

“friendshore”somecriticalmanufacturing,spurringdemandfordomestic

manufacturingfacilitiesandassociatedlogisticsinfrastructure(warehouses,ports,rail).Digitalinfrastructureisalreadystrugglingtokeepupwiththe

surgeinpowerdemandasdatacentersmultiplyatarecordpaceamidthe

AIboom.WeestimatethattheUSneedstoinvestoverUSD1trnoverthe

next10yearsonnon-energyinfrastructure,especiallyonroads.ChinaneedstoreachUSD1.5trn,whileIndiawillrequireapproximatelyUSD1trn.France,

Germany,theUKandSpainneedtoinvestacombinedUSD0.5trn.Overall,theglobaleconomywillneedtospendUSD11.5trnover10years,withtwo-thirdsofthattotalrequiredinemergingeconomies.LatinAmericaexemplifiesthis

dynamic:theregionfacesdistinctinfrastructureneedsdrivenbyrerouting,friendshoringandtradediversification,yetdevelopersmustalsonavigateelevatedrisklevels.

•Theglobalpushtocutcarbonemissionsandelectrifyoureconomy