For a decade, investors have mainly favored tech and luxury giants, relegating industrialists to second place. In 2026, the scenario changes. The energy transition, reindustrialization and the explosion of infrastructure needs are giving new color to French industrial values. Building materials, electrical equipment, semiconductor components, behind these traditional activities are now playing long-term trends.
Saint-Gobain, Legrand and Mersen illustrate this return to favor. These groups, anchored in the economy, find themselves at the heart of the issues energy renovation, modernization of electrical networks and construction of data centers, essential to the development of artificial intelligence. “The return to favor of French industrial stocks in 2026 can be explained by a paradigm shift: artificial intelligence is no longer just a story of software, it is now a story of infrastructure”summarizes Jérôme Robin, founder of NousAssurons.
From AI to data centers, manufacturers are becoming strategic again
For the development of each AI model, “We must build data centers, install kilometers of cables, deploy cooling systems and use ever more efficient materials. Groups like Saint-Gobain, Legrand or Mersen are ideally positioned to capture this wave of long-term investment”underlines Jérôme Robin.
The turnover generated by renovation projects, data centers and electrical infrastructures is thus part of a structural dynamics rather than purely cyclical.
Little-known profiles but driven by trends
For French savers, these values often remain perceived as “classic industrial”, even though they are exposed to powerful trends: electrification of uses, energy renovation of buildings, growth of data centers, modernization of networks, etc.
“Investors are today rediscovering manufacturers capable of transforming major technological trends into turnover and margins. All these projects and reindustrialization are creating massive demand for equipment with high added value”insists Jérôme Robin.
How to integrate them into a diversified PEA strategy
Some benchmarks are necessary to analyze these values: recurring profitability, controlled debt level, ability to go through cycles, solidity of the order book. “Saint-Gobain, Mersen and Legrand have a major card to play. These are companies that combine significant revenues, leading positions in their markets and an ability to preserve attractive margins in an environment where the quality of infrastructure becomes strategic”notes Jérôme Robin.
In a PEA, they can complement growth values by providing regular dividends, exposure to infrastructure and sector diversification.
