Overview

• S&P Global Ratings projects corporate capital spending will rise to $800–850 billion over the next five years, nearly doubling current levels.
• Companies have reduced leverage over the past three to four years and now report operating cash flows about 60 percent higher than five years ago.
• Power infrastructure will absorb a significant share of new investment, with major outlays in renewables, transmission networks and airport expansion.
• Emerging sectors such as green hydrogen, semiconductors and battery manufacturing are poised to secure substantial debt funding.
• Traditional industries including steel, cement, oil and gas, telecom and automotive are expected to grow at a steadier pace of 30–40 percent.