MoatScopeMoatScope

Electrical Equipment & Power

Electrical components, power and grid equipment, motors, batteries.

Companies
95
With a moat
23%
Average quality
27
0 wide moat · 21 narrow moat · 72 no moat · Open in screener →
Updated 27 Sep 2026

Electrical Equipment & Power covers power generation and grid equipment, electrical components, automation, batteries and backup power. MoatScope covers 93 companies here. None has a wide moat; 21 have a narrow moat and 72 none.

How the industry makes money

Manufacturers earn on equipment for utilities, data centers, factories and buildings, then on service and replacement parts across a long installed base. Demand from data centers and grid upgrades has become a major driver.

Where the moats are

Switching costs appear in 19 of the 21 moat-rated companies: electrical and automation systems are specified into designs and maintained for decades. Intangible assets appear in 15.

The narrow-moat group includes GE Vernova, Eaton, Vertiv, Emerson, Rockwell Automation, nVent and Generac. Companies without a moat include Atkore, Ouster and NuScale Power. Eaton scores 61 on MoatScope's quality scale.

What wears moats down

Industrial and construction cycles swing orders, commodity components face price competition, and supply constraints can cap growth even when demand is strong.

What to watch

  • Data-center and grid spending.
  • Order backlogs.
  • Industrial production trends.

Moat ratings and quality scores on this page update as companies report. Price versus fair value for every company in the industry is in the screener.

Markets

MoatScope splits Electrical Equipment & Power into 3 markets. Each table ranks the businesses in one market by revenue and shows each one's share of the market's total: companies filed under this industry, the segments of companies filed elsewhere that compete in it, and the largest companies MoatScope doesn't cover, such as private companies and companies listed outside the US. Each market's total comes from a cited source and covers the geography its businesses compete in (a national market counts only US revenue). A company that runs several businesses is split by the segments it reports.

Power & electrical systems

Turbines, grid equipment, switchgear, wiring, lighting and generators.

Global market · $287.7B total revenue in 2025 · source: Company reports · rough estimate. Shares are of the whole market, including companies MoatScope doesn't cover; company revenue is for the fiscal year closest to 2025. Built from the largest electrical-equipment makers' revenue, so smaller companies are missing and shares read high.

#BusinessMarket shareRevenue
1Schneider Electric
Listed outside the US (Euronext Paris) · Anadolu Agency
15.8%$45.4B
2Siemens Energy
Listed outside the US (XETRA) · Siemens Energy press release, FY2025
15.4%$44.2B
3GEV · GE Vernova Inc.13.2%$38.1B
4Siemens Smart Infrastructure (Siemens AG)
Listed outside the US (XETRA) · Siemens, Earnings release Q4 FY2025
9.0%$26.0B
5Prysmian
Listed outside the US (Borsa Italiana) · tED magazine
7.7%$22.2B
6ETN · Eaton Corp plc7.0%$20.1B
7ABB (Electrification)
Listed outside the US (SIX) · ABB Q4 2025 press release
6.0%$17.4B
8Legrand
Listed outside the US (Euronext Paris) · Legrand, 2025 Full-Year Results
3.7%$10.7B
9VRT · Vertiv Holdings Co3.6%$10.2B
10ABB (Motion)
Listed outside the US (SIX) · ABB Q4 2025 press release
2.9%$8.2B
All other companies0.3%$742M

Industrial automation

Factory automation, controls and robotics.

Global market · $209.5B total revenue in 2025 · source: Straits Research estimate · rough estimate. Shares are of the whole market, including companies MoatScope doesn't cover; company revenue is for the fiscal year closest to 2025. Market-research estimate; estimates range from $170B to $256B.

#BusinessMarket shareRevenue
1Siemens Digital Industries (Siemens AG)
Listed outside the US (XETRA) · Siemens, Earnings release Q4 FY2025
9.6%$20.1B
2EMR · EMERSON ELECTRIC CO8.6%$18.0B
3HON · HONEYWELL INTERNATIONAL INC
Industrial Automation · filed under Conglomerates & Holding Companies
4.5%$9.4B
4ROK · ROCKWELL AUTOMATION, INC4.0%$8.3B
5ABB (Automation)
Listed outside the US (SIX) · ABB Q4 2025 press release
3.9%$8.1B
6OUST · Ouster, Inc.<0.1%$169M
All other companies69.4%$145.4B

Batteries & charging

Industrial batteries and charging equipment.

4 businesses MoatScope covers, ranked by revenue. No reliable figure for this market's total yet, so shares aren't shown.

#BusinessRevenue
1ENS · EnerSys$3.8B
2CHPT · ChargePoint Holdings, Inc.$411M
3EOSE · Eos Energy Enterprises, Inc.$114M
4AMPX · Amprius Technologies, Inc.$73M

Companies

CompanyMoatQualityMarket
GEV
GE Vernova Inc.
Narrow45Power & electrical systems13.2%$241.9B
ETN
Eaton Corp plc
Narrow61Power & electrical systems
+ 2 other markets
7.0%$152.1B
EMR
EMERSON ELECTRIC CO
Narrow48Industrial automation8.6%$89.5B
VRT
Vertiv Holdings Co
Narrow60Power & electrical systems3.6%$79.3B
ROK
ROCKWELL AUTOMATION, INC
Narrow58Industrial automation4.0%$47.1B
NVT
nVent Electric plc
Narrow53Power & electrical systems1.4%$26.3B
HUBB
HUBBELL INC
Narrow61Power & electrical systems2.0%$24.8B
GNRC
GENERAC HOLDINGS INC.
Narrow51Power & electrical systems1.5%$11.4B
RRX
REGAL REXNORD CORP
Narrow48Power & electrical systems2.1%$10.5B
LFUS
LITTELFUSE INC /DE
Narrow50Power & electrical systems0.8%$9.8B
AYI
ACUITY INC. (DE)
Narrow60Power & electrical systems
+ 1 other market
1.3%$9.2B
ENS
EnerSys
Narrow58Batteries & charging—$6.1B
POWL
POWELL INDUSTRIES INC
Narrow61Power & electrical systems0.4%$6.0B
NOVT
NOVANTA INC
Narrow54Power & electrical systems0.3%$5.0B
BDC
BELDEN INC.
Narrow52Power & electrical systems0.9%$4.1B
CXT
Crane NXT, Co.
Narrow54Power & electrical systems0.6%$3.3B
ATKR
Atkore Inc.
None41Power & electrical systems1.0%$3.2B
KN
Knowles Corp
Narrow40Power & electrical systems0.2%$3.0B
SMR
NUSCALE POWER Corp
None21Power & electrical systems<0.1%$2.4B
ROG
ROGERS CORP
Narrow43Power & electrical systems0.3%$2.4B
OUST
Ouster, Inc.
None25Industrial automation<0.1%$2.1B
PLPC
PREFORMED LINE PRODUCTS CO
Narrow54Power & electrical systems0.2%$1.8B
ARLO
Arlo Technologies, Inc.
None32Power & electrical systems0.2%$1.3B
AMSC
AMERICAN SUPERCONDUCTOR CORP /DE/
Narrow46Power & electrical systems0.1%$1.3B
PSIX
POWER SOLUTIONS INTERNATIONAL, INC.
None42Power & electrical systems0.3%$1.1B
AMPX
Amprius Technologies, Inc.
None20Batteries & charging—$1.1B
EMAT
Evolution Metals & Technologies Corp.
None5Power & electrical systems—$1.0B
DAKT
DAKTRONICS INC /SD/
Narrow53Power & electrical systems0.3%$895M
LYTS
LSI INDUSTRIES INC
None37Power & electrical systems0.2%$726M
ADSE
Ads-Tec Energy Public Ltd Co
None10Power & electrical systems<0.1%$700M
NNE
Nano Nuclear Energy Inc.
None14Power & electrical systems—$699M
BW
Babcock & Wilcox Enterprises, Inc.
None12Power & electrical systems0.2%$679M
EOSE
Eos Energy Enterprises, Inc.
None22Batteries & charging—$659M
LWLG
Lightwave Logic, Inc.
None20Power & electrical systems<0.1%$611M
HYLN
Hyliion Holdings Corp.
None21Power & electrical systems<0.1%$572M
FAC
Factorial Energy Inc.
None1Power & electrical systems—$517M
NVX
NOVONIX Ltd
None30Power & electrical systems<0.1%$454M
NKLR
Terra Innovatum Global N.V.
None18Power & electrical systems—$264M
SES
SES AI Corp
None22Power & electrical systems<0.1%$260M
TROO
Troops, Inc. /Cayman Islands/
None19Power & electrical systems<0.1%$244M
NPWR
NET Power Inc.
None29Power & electrical systems—$227M
SHMD
SCHMID Group N.V.
None8Power & electrical systems<0.1%$220M
EAF
GRAFTECH INTERNATIONAL LTD
None22Power & electrical systems0.2%$193M
CHPT
ChargePoint Holdings, Inc.
None15Batteries & charging—$192M
GAUZ
Gauzy Ltd.
None8Power & electrical systems<0.1%$160M
SKYX
SKYX Platforms Corp.
None14Power & electrical systems<0.1%$133M
XCH
XCHG Ltd
None12Power & electrical systems<0.1%$127M
VRME
VerifyMe, Inc.
None29Power & electrical systems<0.1%$118M
ULBI
ULTRALIFE CORP
None31Power & electrical systems<0.1%$101M
OESX
ORION ENERGY SYSTEMS, INC.
None16Power & electrical systems<0.1%$93M
RAYA
Erayak Power Solution Group Inc.
None22Power & electrical systems<0.1%$90M
SOTK
SONO TEK CORP
None51Power & electrical systems<0.1%$86M
BWEN
BROADWIND, INC.
None25Power & electrical systems<0.1%$77M
WRAP
WRAP TECHNOLOGIES, INC.
None25Power & electrical systems<0.1%$73M
ZRCN
ZRCN Inc.
None24Power & electrical systems<0.1%$73M
CBAT
CBAK Energy Technology, Inc.
None23Power & electrical systems<0.1%$70M
CPSH
CPS TECHNOLOGIES CORP/DE/
None22Power & electrical systems<0.1%$67M
BLNK
Blink Charging Co.
None13Power & electrical systems<0.1%$61M
KRFG
King Resources, Inc.
None9Power & electrical systems<0.1%$60M
WBX
Wallbox N.V.
None5Power & electrical systems<0.1%$58M
DSWL
DESWELL INDUSTRIES INC
None37Power & electrical systems<0.1%$53M
AMCI
AMC Robotics Corp
None25Power & electrical systems<0.1%$53M
WWR
WESTWATER RESOURCES, INC.
None24Power & electrical systems—$53M
ACFN
ACORN ENERGY, INC.
None49Power & electrical systems<0.1%$46M
STI
Solidion Technology Inc.
None9Power & electrical systems<0.1%$38M
FXHO
UTime Ltd
None5Power & electrical systems<0.1%$30M
APWC
ASIA PACIFIC WIRE & CABLE CORP LTD
None31Power & electrical systems0.2%$30M
PPSI
PIONEER POWER SOLUTIONS, INC.
None16Power & electrical systems<0.1%$30M
AUSI
AURA SYSTEMS INC
None13Power & electrical systems<0.1%$30M
GDST
Goldenstone Acquisition Ltd.
None13Power & electrical systems—$23M
BEEM
Beam Global
None16Power & electrical systems<0.1%$20M
PRZO
ParaZero Technologies Ltd.
None13Power & electrical systems<0.1%$20M
TRSG
Tungray Technologies Inc
None22Power & electrical systems<0.1%$20M
REFR
RESEARCH FRONTIERS INC
None10Power & electrical systems<0.1%$18M
EFOI
ENERGY FOCUS, INC/DE
None15Power & electrical systems<0.1%$18M
BESS
Bimergen Energy Corp
None25Power & electrical systems—$15M
AETN
SHOREPOWER TECHNOLOGIES INC.
None9Power & electrical systems<0.1%$15M
RVSN
Rail Vision Ltd.
None18Power & electrical systems<0.1%$10M
CVAT
Cavitation Technologies, Inc.
None14Power & electrical systems<0.1%$10M
CEIN
CAMBER ENERGY, INC.
None7Power & electrical systems<0.1%$9M
SMX
SMX (Security Matters) Public Ltd Co
None5Power & electrical systems—$7M
GRFXY
Graphex Group Ltd
None24Power & electrical systems—$6M
OPTT
Ocean Power Technologies, Inc.
None13Power & electrical systems<0.1%$5M
IZM
ICZOOM Group Inc.
None24Power & electrical systems<0.1%$4M
TOGI
TurnOnGreen, Inc.
None9Power & electrical systems<0.1%$4M
POLA
Polar Power, Inc.
None6Power & electrical systems<0.1%$3M
CAPC
CAPSTONE COMPANIES, INC.
None7Power & electrical systems<0.1%$3M
IMTE
Integrated Media Technology Ltd
None21Power & electrical systems—$2M
CETI
Cyber Enviro-Tech, Inc.
None19Power & electrical systems—$2M
DTII
DEFENSE TECHNOLOGIES INTERNATIONAL CORP.
None4Power & electrical systems—$1M
SDST
Stardust Power Inc.
None5Power & electrical systems—$1M
SOBR
SOBR Safe, Inc.
None19Power & electrical systems<0.1%$1M
CCTG
CCSC Technology International Holdings Ltd
None16Power & electrical systems<0.1%—
DAZSD
ZKGC New Energy Ltd
—26Power & electrical systems——
FPS
Forgent Power Solutions, Inc.
—36Power & electrical systems0.3%—

95 companies.

Market share is a company's revenue in its main market (Market column) as a share of that market's total: every company in it, including private companies and companies listed outside the US (sources under each market above). Revenue is for the fiscal year closest to 2025, and a market that is national (such as US banking) counts only US revenue. Companies that run several businesses are split by the segments they report, and each segment counts in its own market. A dash means the market has no reliable total yet, or no revenue was reported for that year.

Price versus fair value for every company is in the screener.

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