Dry Cable Termination Market
Description
The global dry cable termination market 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 an electrical cable termination that uses solid insulation materials instead of liquids such as oil or SF6 gas. These air-insulated terminations are especially beneficial for high-voltage applications, where safety and reliability are critical. Traditional cable terminations typically rely on fluid-filled systems for insulation and to manage electrical stress. Although effective, these fluids have several disadvantages, such as they require precise sealing to prevent leaks, which can be difficult to maintain over time. Leaks can lead to environmental contamination and pose safety hazards, particularly in indoor settings, where they may result in explosions and significant damage to surrounding equipment and personnel.
Growth of the dry cable termination industry is driven by several key factors that influence demand and industry trends, including rise in need for reliable and efficient power transmission and distribution systems. As global electricity demand continues to rise, there is rise in focus on upgrading and modernizing power infrastructure. Dry cable terminations, which use solid insulation materials instead of traditional oil or gas, offer significant benefits in terms of safety, environmental impact, and maintenance, thus driving the adoption of dry cable terminations in utilities and industries seeking to improve the reliability and efficiency of their electrical networks.
Technological advancements play a significant role in shaping the market. Improvements in manufacturing processes and materials have led to the creation of more compact and lightweight dry cable terminations, making them easier to install and maintain. These innovations are key drivers of the growth of dry cable terminations, making them suitable for a broader range of industries, such as telecommunications, oil and gas, and industrial automation. Also, growing emphasis on sustainability and energy efficiency is increasing the demand for dry cable terminations. Governments and regulatory agencies globally are enforcing stricter energy efficiency standards and encouraging the use of eco-friendly technologies. With their lower environmental impact and enhanced energy efficiency, dry cable terminations align with these regulations, further promoting their adoption. For instance, 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.
Segment Review:
The dry cable termination market size is segmented into installation type, voltage, application, and region. By installation type, the dry cable terminations market is segmented into indoor dry cable terminations and outdoor dry cable terminations. Based on voltage, the market is segmented into low voltage, medium voltage, and high voltage. On the basis of application, the market is divided into power transmission and distribution, telecommunication, renewable energy, industrial applications, oil and gas, and others. Region-wise, the dry cable terminations 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).
Key Findings:
By installation type, the outdoor dry cable terminations segment accounted major share in the market in 2023.
By voltage, the high voltage segment dominated the market and is expected to follow the same trend during the forecast period.
Based on application, the power transmission and distribution segment held the largest segment in the market in 2023.
Region-wise, Asia-Pacific was the largest segment in the dry cable termination market in 2023.
Competition 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.
Key Market Segments
By Installation
Indoor Dry Cable Terminations
Outdoor Dry Cable Terminations
By Voltage
Low Voltage
Medum Voltage
High Voltage
By Application
Power Transmission and Distribution
Telecommunication
Renewable Energy
Industrial Applications
Oil and Gas
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
ABB Ltd.
Nexans
Prysmian Group
3M Company
Hubbell Incorporated
Eaton Corporation PLC
G&W Electric Co.
Siemens AG.
TE Connectivity
Raychem RPG Private LimitedThe research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
A dry-type cable termination is an electrical cable termination that uses solid insulation materials instead of liquids such as oil or SF6 gas. These air-insulated terminations are especially beneficial for high-voltage applications, where safety and reliability are critical. Traditional cable terminations typically rely on fluid-filled systems for insulation and to manage electrical stress. Although effective, these fluids have several disadvantages, such as they require precise sealing to prevent leaks, which can be difficult to maintain over time. Leaks can lead to environmental contamination and pose safety hazards, particularly in indoor settings, where they may result in explosions and significant damage to surrounding equipment and personnel.
Growth of the dry cable termination industry is driven by several key factors that influence demand and industry trends, including rise in need for reliable and efficient power transmission and distribution systems. As global electricity demand continues to rise, there is rise in focus on upgrading and modernizing power infrastructure. Dry cable terminations, which use solid insulation materials instead of traditional oil or gas, offer significant benefits in terms of safety, environmental impact, and maintenance, thus driving the adoption of dry cable terminations in utilities and industries seeking to improve the reliability and efficiency of their electrical networks.
Technological advancements play a significant role in shaping the market. Improvements in manufacturing processes and materials have led to the creation of more compact and lightweight dry cable terminations, making them easier to install and maintain. These innovations are key drivers of the growth of dry cable terminations, making them suitable for a broader range of industries, such as telecommunications, oil and gas, and industrial automation. Also, growing emphasis on sustainability and energy efficiency is increasing the demand for dry cable terminations. Governments and regulatory agencies globally are enforcing stricter energy efficiency standards and encouraging the use of eco-friendly technologies. With their lower environmental impact and enhanced energy efficiency, dry cable terminations align with these regulations, further promoting their adoption. For instance, 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.
Segment Review:
The dry cable termination market size is segmented into installation type, voltage, application, and region. By installation type, the dry cable terminations market is segmented into indoor dry cable terminations and outdoor dry cable terminations. Based on voltage, the market is segmented into low voltage, medium voltage, and high voltage. On the basis of application, the market is divided into power transmission and distribution, telecommunication, renewable energy, industrial applications, oil and gas, and others. Region-wise, the dry cable terminations 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).
Key Findings:
By installation type, the outdoor dry cable terminations segment accounted major share in the market in 2023.
By voltage, the high voltage segment dominated the market and is expected to follow the same trend during the forecast period.
Based on application, the power transmission and distribution segment held the largest segment in the market in 2023.
Region-wise, Asia-Pacific was the largest segment in the dry cable termination market in 2023.
Competition 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.
Key Market Segments
By Installation
Indoor Dry Cable Terminations
Outdoor Dry Cable Terminations
By Voltage
Low Voltage
Medum Voltage
High Voltage
By Application
Power Transmission and Distribution
Telecommunication
Renewable Energy
Industrial Applications
Oil and Gas
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
ABB Ltd.
Nexans
Prysmian Group
3M Company
Hubbell Incorporated
Eaton Corporation PLC
G&W Electric Co.
Siemens AG.
TE Connectivity
Raychem RPG Private LimitedThe research methodology of the global market involves extensive primary and secondary research. Primary research includes about over 12 hours of interviews and discussion with a wide range of stakeholders, including upstream and downstream participants. The primary research typically is the bulk of our research efforts; however, coherently supported by extensive secondary research. Researchers have reviewed over 6,765 product literatures, industry releases, annual reports, and other such documents of key industry participants to obtain better market understanding and gain competitive intelligence. In addition, authentic industry journals, trade associations' releases,and government websites have also been reviewed for generating high-value industry insights.
Table of Contents
327 Pages
- CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
- CHAPTER 2: EXECUTIVE SUMMARY
- 2.1. CXO perspective
- CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter’s five forces analysis
- 3.3.1. High to moderate bargaining power of suppliers
- 3.3.2. Moderate threat of new entrants
- 3.3.3. Moderate threat of substitutes
- 3.3.4. High to moderate intensity of rivalry
- 3.3.5. High to moderate bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Increasing Demand for Reliable and Efficient Power Distribution
- 3.4.1.2. Adoption of Renewable Energy Sources
- 3.4.1.3. Environmental and Safety Regulations
- 3.4.2. Restraints
- 3.4.2.1. High Initial Costs
- 3.4.3. Opportunities
- 3.4.3.1. Innovation in Insulating Materials
- 3.5. Value Chain Analysis
- CHAPTER 4: DRY CABLE TERMINATION MARKET, BY INSTALLATION
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Indoor Dry Cable Terminations
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Outdoor Dry Cable Terminations
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- CHAPTER 5: DRY CABLE TERMINATION MARKET, BY VOLTAGE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Low Voltage
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Medum Voltage
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. High Voltage
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
- CHAPTER 6: DRY CABLE TERMINATION MARKET, BY APPLICATION
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Power Transmission and Distribution
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Telecommunication
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Renewable Energy
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
- 6.5. Industrial Applications
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by region
- 6.5.3. Market share analysis by country
- 6.6. Oil and Gas
- 6.6.1. Key market trends, growth factors and opportunities
- 6.6.2. Market size and forecast, by region
- 6.6.3. Market share analysis by country
- 6.7. Others
- 6.7.1. Key market trends, growth factors and opportunities
- 6.7.2. Market size and forecast, by region
- 6.7.3. Market share analysis by country
- CHAPTER 7: DRY CABLE TERMINATION MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Installation
- 7.2.3. Market size and forecast, by Voltage
- 7.2.4. Market size and forecast, by Application
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Market size and forecast, by Installation
- 7.2.5.1.2. Market size and forecast, by Voltage
- 7.2.5.1.3. Market size and forecast, by Application
- 7.2.5.2. Canada
- 7.2.5.2.1. Market size and forecast, by Installation
- 7.2.5.2.2. Market size and forecast, by Voltage
- 7.2.5.2.3. Market size and forecast, by Application
- 7.2.5.3. Mexico
- 7.2.5.3.1. Market size and forecast, by Installation
- 7.2.5.3.2. Market size and forecast, by Voltage
- 7.2.5.3.3. Market size and forecast, by Application
- 7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Installation
- 7.3.3. Market size and forecast, by Voltage
- 7.3.4. Market size and forecast, by Application
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. UK
- 7.3.5.1.1. Market size and forecast, by Installation
- 7.3.5.1.2. Market size and forecast, by Voltage
- 7.3.5.1.3. Market size and forecast, by Application
- 7.3.5.2. Germany
- 7.3.5.2.1. Market size and forecast, by Installation
- 7.3.5.2.2. Market size and forecast, by Voltage
- 7.3.5.2.3. Market size and forecast, by Application
- 7.3.5.3. France
- 7.3.5.3.1. Market size and forecast, by Installation
- 7.3.5.3.2. Market size and forecast, by Voltage
- 7.3.5.3.3. Market size and forecast, by Application
- 7.3.5.4. Italy
- 7.3.5.4.1. Market size and forecast, by Installation
- 7.3.5.4.2. Market size and forecast, by Voltage
- 7.3.5.4.3. Market size and forecast, by Application
- 7.3.5.5. Rest of Europe
- 7.3.5.5.1. Market size and forecast, by Installation
- 7.3.5.5.2. Market size and forecast, by Voltage
- 7.3.5.5.3. Market size and forecast, by Application
- 7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Installation
- 7.4.3. Market size and forecast, by Voltage
- 7.4.4. Market size and forecast, by Application
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Market size and forecast, by Installation
- 7.4.5.1.2. Market size and forecast, by Voltage
- 7.4.5.1.3. Market size and forecast, by Application
- 7.4.5.2. Japan
- 7.4.5.2.1. Market size and forecast, by Installation
- 7.4.5.2.2. Market size and forecast, by Voltage
- 7.4.5.2.3. Market size and forecast, by Application
- 7.4.5.3. India
- 7.4.5.3.1. Market size and forecast, by Installation
- 7.4.5.3.2. Market size and forecast, by Voltage
- 7.4.5.3.3. Market size and forecast, by Application
- 7.4.5.4. South Korea
- 7.4.5.4.1. Market size and forecast, by Installation
- 7.4.5.4.2. Market size and forecast, by Voltage
- 7.4.5.4.3. Market size and forecast, by Application
- 7.4.5.5. Rest of Asia-Pacific
- 7.4.5.5.1. Market size and forecast, by Installation
- 7.4.5.5.2. Market size and forecast, by Voltage
- 7.4.5.5.3. Market size and forecast, by Application
- 7.5. LAMEA
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Installation
- 7.5.3. Market size and forecast, by Voltage
- 7.5.4. Market size and forecast, by Application
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Latin America
- 7.5.5.1.1. Market size and forecast, by Installation
- 7.5.5.1.2. Market size and forecast, by Voltage
- 7.5.5.1.3. Market size and forecast, by Application
- 7.5.5.2. Middle East
- 7.5.5.2.1. Market size and forecast, by Installation
- 7.5.5.2.2. Market size and forecast, by Voltage
- 7.5.5.2.3. Market size and forecast, by Application
- 7.5.5.3. Africa
- 7.5.5.3.1. Market size and forecast, by Installation
- 7.5.5.3.2. Market size and forecast, by Voltage
- 7.5.5.3.3. Market size and forecast, by Application
- CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product mapping of top 10 player
- 8.4. Competitive dashboard
- 8.5. Competitive heatmap
- 8.6. Top player positioning, 2023
- CHAPTER 9: COMPANY PROFILES
- 9.1. ABB Ltd.
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
- 9.2. Siemens AG.
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
- 9.3. Nexans
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
- 9.3.7. Key strategic moves and developments
- 9.4. Eaton Corporation PLC
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
- 9.4.7. Key strategic moves and developments
- 9.5. Prysmian Group
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Business performance
- 9.5.7. Key strategic moves and developments
- 9.6. TE Connectivity
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.7. 3M Company
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Business performance
- 9.8. Raychem RPG Private Limited
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Key strategic moves and developments
- 9.9. Hubbell Incorporated
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
- 9.10. G&W Electric Co.
- 9.10.1. Company overview
- 9.10.2. Key executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Key strategic moves and developments
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