Schneider Electric (SU)
Industrial automation + energy management (Schneider Electric) — data-center power + software
AI exposure 25% — derived from reported segment revenue, not asserted.
Where it sits
Physical Infrastructure → Power & Electrical Equipment · figures rebased to H1 2026, reported 2026-07-30
Power & electrical equipment (LV/secure/data-center power). NOTE: Energy Management segment holds 4 distinct businesses — placed by product-level research, not segment label
Also tagged: secondary in Physical Infrastructure → Industrial & Factory Automation; emerging in Physical Infrastructure → Grid Infrastructure Equipment; emerging in Software Stack → Industrial & Automation Software.
Reported segments
- Energy Management — 73% of revenue
- Industrial Automation — 27% of revenue
Schneider Electric (H1 2026 organic revenue +14.0% at a 19.3% adjusted EBITA margin) — electrical distribution and industrial automation. Energy Management ~73% (low- and medium-voltage distribution, APC data-centre power including the NVIDIA 800VDC architecture, grid infrastructure equipment and building tech = primary B2 Power & Electrical Equipment) + Industrial Automation ~27% (PLCs, drives, process automation). A cross-cutting Software & Services overlay of ~19% (AVEVA, ETAP, RIB plus field services) spans both segments and is marked overlay, so it is excluded from the 100% sum per rule…
How the 25% is built
- Energy Management — 73% of revenue × 32% AI-driven (estimate). The disclosed ~25%-of-group Data Centres & Networks figure sits overwhelmingly in Energy Management (power distribution, UPS/APC, prefabricated modular); allocating ~23 of those 25 points here implies ~32% of the segment — the allocation is an estimate, the ~25% group anchor is the company's own
- Industrial Automation — 27% of revenue × 7% AI-driven (estimate). Raised from 5%: management named semiconductor demand as growing triple-digit alongside data centers in Q2 2026, and IA organic growth accelerated to +11% — the fab/automation slice of the data-center-and-semis end market lands here
Investment read
Moat. Energy-management and automation breadth — power distribution, UPS, EcoStruxure, data-center reference designs — sold into an installed base where product is specified in by engineers and contractors long before purchase. The software layer is being deliberately deepened rather than left as an attach: AVEVA ARR +12%, plus Cognite (industrial-AI data platform, $3.1B, June 2026) and AiDASH (grid AI, $350M, July 2026), against a 2030 target of 25% software/services mix.
Bottleneck / pricing power. Pricing power shows up at the EBITA line, not the gross line: H1 2026 adjusted EBITA margin 19.3% (+120bps organic) on +14.0% organic revenue, while gross margin rose only 10bps to 42.5% as tariffs and lower-margin Systems mix absorbed the volume leverage. The electrical-equipment shortage and the record backlog are what hold price; Systems mix is what dilutes it.
Role in the AI stack. The integrated data-center electrical + energy-management layer.
Connected companies
- Equinix (EQIX) — SU supplies: energy management + EcoStruxure
- Texas Instruments (TXN) — SU is supplied by: analog + embedded control into energy-management equipment
- ON Semiconductor (ON) — SU is supplied by: power devices into energy-management equipment
- Vertiv Holdings (VRT) — SU competes with: Data-center critical power + thermal — star players in every DC power/cooling study
- Eaton Corporation (ETN) — SU competes with: Electrical distribution + energy management for data centers
- Hubbell (HUBB) — SU competes with: Partial overlap in electrical/grid products — Hubbell utility/grid-weighted vs Schneider distribution/automation-weighted
- GE Vernova (GEV) — SU competes with: Partial grid-automation overlap; GE Vernova transmission/HV-weighted vs Schneider distribution/automation
- Siemens Energy (ENR) — SU competes with: Partial grid overlap; Siemens Energy transmission/HV equipment vs Schneider distribution/automation
- Samsara (IOT) — SU competes with: Both broadly industrial-operations software, but AVEVA does plant/MES/asset software while Samsara does fleet/site IoT — different niches, partial overlap
- Siemens (SIEGY) — SU competes with: closest direct rival — Siemens vs Schneider in data-center power/electrification + automation
- Rockwell Automation (ROK) — SU competes with: industrial automation — Schneider (EcoStruxure) vs Rockwell
- Emerson Electric (EMR) — SU competes with: process automation / DCS rivalry — Schneider (Foxboro/Triconex) vs Emerson (DeltaV/Ovation)
- Hitachi (HTHIY) — SU competes with: partial grid overlap — Schneider (LV/MV distribution) vs Hitachi Energy (HV transmission); direct rivalry mainly at MV/grid-automation level
- Microsoft (MSFT) — SU supplies: data-center power + cooling (APC) — data centers Schneider biggest growth driver
Others in Power & Electrical Equipment
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