Legrand

Legrand posts ~40% organic data center growth in 2025, targets 10-20% DC expansion in 2026 backed by hyperscaler capex surge

Legrand delivered EUR 2.4 billion in data center sales in 2025 — 26% of group revenue — on organic growth of close to 40%, materially outperforming peers including Vertiv's reported 26%. The company is guiding 2026 group organic growth of 4-7%, anchored by 10-20% data center expansion supported by a strong order book, above-1 book-to-bill, and hyperscaler capex budgets that management characterizes as growing 50-100% between 2025 and 2026. The strategic pivot is structural: gray space grew from 5% to 25% of data center sales in three years, and Legrand now claims ~55,000 standard SKUs for data centers, positioning it as architecture-agnostic across all major hyperscaler and co-location customers.

Legrand is a global specialist in electrical and digital building infrastructures, serving data centers, commercial buildings, and residential markets across 90+ countries. Data centers now represent 26% of group sales.

Primary products

• Critical power (UPS, switchgear, busbar, transformers)
• Physical compute infrastructure (racks, cable management, tap-off boxes)
• Compute management (PDUs, rPDUs, KVM, transceivers, monitoring)
• Advanced cooling (rear door heat exchangers, containment, two-phase direct-to-chip)
• Testing and lifecycle services (power banks, commissioning, field services)
• Wiring devices and electrical distribution for buildings