08/25/2026
Industrial Services Industry & Market Update, Grid Modernization and TICC Spotlight, Second Quarter 2026
Every AI query, EV charge, and new data center is straining a power grid built for a different century, and the money is already moving faster than most owners realize. $115 billion went into grid modernization last year alone. Data centers could be pulling 12% of the nation's electricity by 2028.
That's rewriting who's buying, what they're paying, and how fast they're moving on deals. Valuation multiples for the engineering, construction, and testing/inspection firms behind this build-out are running well above historical norms, and strategic, financial, and credit buyers are all chasing the same targets.
Our Q2 2026 Industry & Market Update lays out exactly where the opportunity stands, who's positioned to win, and why this window may not stay open long.