Dry Cable Termination Market Size, Share, Competitive Landscape and Trend Analysis Report, by Installation, by Voltage, by Application : Global Opportunity Analysis and Industry Forecast, 2024-2033

Dry Cable Termination Market Research, 2033

The Global Dry Cable Termination Market size was valued at $2 billion in 2023, and is projected to reach $4.3 billion by 2033, growing at a CAGR of 8% from 2024 to 2033.

A dry-type cable termination is a type of electrical cable termination that uses solid insulation materials instead of fluids such as oil or SF6 gas. These air-insulated cable terminations are particularly advantageous for high-voltage applications, where reliability and safety are paramount. Traditional cable terminations often use fluid-filled systems to insulate and manage electrical stress. These fluids, while effective, come with several drawbacks. They require accurate and careful sealing to prevent leaks, which can be challenging to maintain over time. Leaks can lead to environmental contamination and pose safety risks, especially in an indoor facility, which can cause explosions and severe damage to surrounding equipment and personnel.

In addition, dry cable terminations are designed to eliminate the risk of leaks by using solid insulation materials such as silicone rubber or epoxy. These materials provide excellent electrical insulation and mechanical support without the need for fluids. The design typically includes a pre-molded rubber stress cone that fits over the prepared cable end, ensuring effective electrical stress control. The entire assembly is then enclosed in a solid insulator, which can be made of materials like porcelain or composite.

The dry cable termination industry is experiencing significant growth, driven by rise in demand for reliable and safe electrical connections in various industries. One of the primary factors contributing to the growth is the expansion of renewable energy projects and the modernization of electrical grids, which require advanced and efficient transmission systems. Dry cable terminations, which use solid insulation materials, offer several advantages over traditional oil-filled terminations, including reduced environmental impact, improved fire safety, and lower maintenance costs.

Environmental concerns and stringent safety regulations are also propelling the adoption of dry cable terminations. These terminations eliminate the risk of fluid leaks and associated environmental contamination, making them a preferred choice for high-voltage applications. In addition, development of new insulating materials, such as epoxy resins and silicone rubber, has enhanced the performance and reliability of dry cable terminations.

Technological advancements are also playing a crucial role in shaping the market. Innovations in manufacturing processes and materials have led to the development of more compact and lightweight dry cable terminations, which are easier to install and maintain. These advancements are major factors propelling the growth of dry cable terminations, making them suitable for a wider range of industries, including telecommunications, oil and gas, and industrial automation.

Moreover, the growing focus on sustainability and energy efficiency is driving the demand for dry cable terminations. Governments and regulatory bodies globally are implementing stringent energy efficiency standards and promoting the use of environmentally friendly technologies. Dry cable terminations, with their reduced environmental impact and improved energy efficiency, align with these regulatory requirements, further boosting their adoption

Segment Overview

The dry cable termination market is segmented into installation, voltage, application, and region.

By installation type, the dry cable termination market is segmented into indoor dry cable termination and outdoor dry cable terminations. The outdoor dry cable terminations segment dominated the market in 2023.

Based on voltage, the dry cable termination market is segmented into low voltage, medium voltage, and high voltage. The high voltage segment accounted major share of the dry cable termination market in 2023.

On the basis of application, the dry cable termination market is divided into power transmission and distribution, telecommunication, renewable energy, industrial applications, oil and gas, and others. The power transmission and distribution segment is the largest application segment, given the critical role of dry cable terminations in ensuring reliable and efficient power delivery.

Region-wise, the dry cable termination market is analyzed across North America (the U.S, Canada, and Mexico), Europe (UK, Germany, France, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). The Asia-Pacific region is the largest market for dry cable terminations due to rapid urbanization and industrialization, significant infrastructure development, supportive government policies, and a strong manufacturing base, all of which drive the demand for advanced electrical solutions.

Further, the dry cable termination market growth across developing regions such as the Middle East and Africa is driven by increasing investments in renewable energy projects and the modernization of electrical grids. The dry cable termination market outlook indicates that these regions are witnessing a surge in demand for reliable and efficient power distribution solutions. This growth is further propelled by advancements in material technology, which enhance the performance and reliability of dry cable terminations. Additionally, the adoption of stringent environmental and safety regulations is encouraging the shift towards dry cable terminations, which offer reduced maintenance requirements and lower environmental impact compared to traditional fluid-filled terminations.

Competitive Analysis

The key players profiled in the report include ABB Ltd., Siemens AG, Nexans, Prysmian Group, TE Connectivity, 3M Company, Raychem RPG Private Limited, Hubbell Incorporated, Eaton Corporation PLC, and G&W Electric Co. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the dry cable termination market forecast. Moreover, the dry cable termination market share is significantly dominated by ABB Ltd., Siemens AG, Prysmian Group, TE Connectivity, and Nexans, owing to their extensive product portfolios, strong global presence, and continuous innovation in cable termination technologies.

Recent Developments in the Dry Cable Termination Industry

• In February 2023, Raychem RPG announced its participation in the 15th edition of ELECRAMA 2023, a key event for the power sector. Demonstrating its commitment to powering and digitizing the economy, it showcased its cutting-edge technologies across a wide range of offerings. These included solutions for LV to EHV cable management and protection, connectors and terminals, electrical safety products, specialized covered conductors, transformers, built-to-print solutions, and gas metering technologies..
• In November 2024, Prysmian Group launched Click-Fit (CFT) Dry Termination CFT-245 model. Designed to meet escalating network demands, it enhanced capacity while upholding exceptional reliability and efficiency standards. The CFT-245 has undergone extensive testing to ensure its ability to manage higher loads.
• In November 2024, Eaton partnered with Treehouse to drive high-quality, affordable, and code-compliant residential electrification projects. This collaboration combines Eaton's digitally advanced electrical solutions with Treehouse's AI-driven software and comprehensive installation services. Together, they aim to accelerate the energy transition in homes by facilitating the adoption of energy storage, heat pumps, and other electrification technologies.
• In February 2024, Nexans secured a significant contract to provide 6,000 km of low- and medium-voltage power distribution cables and services to a major Italian utility, supporting Italy's energy transition. The contract began in February 2024 and lasts for 16 months, strengthening Nexans' position as a trusted long-term partner and a leader in sustainable electrification.
• In October 2023, Nexans completed the electrical Type Test for its 525 kV DC SF6 gas-free cable terminations, paving the way for a safer and more sustainable solution to connect HVDC cables. This achievement brings the company closer to its mission of advancing electrification for the future.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the dry cable termination market segments, current trends, estimations, and dynamics of the dry cable termination market opportunity and analysis from 2023 to 2033 to identify the prevailing dry cable termination market opportunities.
• The dry cable termination market analysis is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the dry cable termination market segmentation helps determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global dry cable termination market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global dry cable termination market trends, key players, dry cable termination industry segments, application areas, and market growth strategies.