Western Europe Electrical Equipment: Space datacentre implications for electrical equipment

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Western Europe Electrical Equipment: Space datacentre implications for electrical equipment

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07 Jul 2026 12:02:15 ET │ 10 pages

Western Europe Electrical Equipment

Space datacentre implications for electrical equipment

CITI'S TAKE

The opportunities and disruption from space-based datacentres has

become an increasing focus for electrical equipment investors. Space

datacentres would be most different from their terrestrial counterparts in

power generation (100% solar), grid interconnects (not required), and in Martin WilkieAC

cooling (significantly changed architecture). We’d see most similarities in +44-207-986-4077

the rack level electrical requirements, particularly in the 48v DC power martin.wilkie@citi.com

supply, with additional opportunities in optical networking. Orbital AI

Vivek Midha, CFA compute satellites are seen as early as 2028, potentially then scaling

significantly; our US research colleagues outline the growth potential here; +44-20-7500-0732

vivek.midha@citi.com SpaceX goals for 100GW annual deployment could potentially increase

the annual addressable market size for select electrical equipment by ~5x Avinash Mundhra

by the early 2030s. We’d see Legrand as the biggest potential beneficiary +44-20-7986-6230

(and least disrupted) from space datacentres, with its rack level power avinash.mundhra@citi.com

management. Siemens is also a major potential beneficiary as an existing

supplier of CAD software to SpaceX.

Stock implications – While the electrical architecture is not finalised, our current

assessment would mean the largest growth opportunities are in solar connectivity,

rack level low-voltage power control, and optical networks, with no incremental

need for non-solar power generation, medium or high voltage power control, nor