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Jun 2026

2026 Energy and Power Overview: First Edition

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Executive Summary

The U.S. energy and power market is entering a sustained period of investment driven by rising electricity demand, aging infrastructure, grid modernization and resilience initiatives. Annual power construction spending is projected to grow from $158 billion in 2025 to $255 billion by 2030, representing more than $1 trillion in cumulative investment through the end of the decade.

In our first Energy and Power Overview, we examine the trends shaping the U.S. energy and power market across electric generation, transmission and distribution, and oil and gas infrastructure. We also explore how data center growth, electrification, regulatory changes and grid resilience are influencing capital deployment and reshaping today's M&A landscape.

In This Report, You'll Learn: 

  • Why U.S. power construction is entering a multiyear growth cycle.
  • What's driving investment across electric generation, transmission and distribution, and oil and gas infrastructure.
  • How grid resilience, reliability and evolving regulations are shaping long-term infrastructure spending.
  • The trends influencing capital deployment and M&A activity across the energy and power sector.

Download the full report for FMI's latest forecast and analysis of the trends shaping the future of the energy and power industry.