Conclusion
Adapting to a more selective market
The Q2 2026 market is steady, but growth remains narrow. Data centers, power, advanced manufacturing, and pharmaceuticals continue to lead activity. Outside these sectors, conditions are weaker. Fewer projects are starting, approval times are longer, and many owners remain cautious.
At the same time, risks are increasing.
Energy price swings are pushing up material costs. Skilled workers remain hard to find, and wage growth is still adding pressure to project budgets.
Economic uncertainty remains high. Recent developments in the Middle East have reduced some immediate risks, but many firms continue to take a cautious approach to investment and procurement decisions.