Power Management is Vertiv's largest segment by revenue (~$5.5B in FY2025), encompassing UPS (uninterruptible power supply) systems, power distribution units (PDUs), switchgear, and busbar systems for data centers. Vertiv is a #1-2 global provider in the UPS market, competing primarily with Schneider Electric and Eaton. Revenue grew approximately 22% in FY2025, driven by data center power infrastructure buildout. Americas grew 43% YoY in Q3 2025, the strongest-performing region. The 2026 guidance of $13.25-$13.75B total revenue implies power management at approximately $7.1B (+29% YoY). Power management benefits from the same data center buildout tailwind as thermal, but with a more moderate growth profile since power infrastructure needs scale linearly with capacity rather than exponentially with density.
Vertiv is a #1-2 global provider in the UPS market, competing primarily with Schneider Electric and Eaton in data center power infrastructure
UPS (Uninterruptible Power Supply) systems are mission-critical infrastructure for data centers, providing backup power and power conditioning to protect against outages and power quality issues. Every data center requires UPS capacity proportional to its IT load. As AI data centers scale to 100+ MW facilities, UPS requirements grow proportionally. Vertiv's Liebert UPS product line ranges from small (<10 kW) to large-scale (multi-MW) systems. The company also provides switchgear, power distribution, and busbar systems that route power from the grid to individual server racks. The competitive moat in power management is primarily around installation base relationships, total-cost-of-ownership advantages, and integrated monitoring/management systems that reduce operator complexity.
Every data center requires UPS capacity proportional to its IT load, and AI data centers scaling to 100+ MW facilities drive proportional UPS demand growth