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Solar O&M Market Reaches 348 GW, Top 15 Vendors Control 57%: Report Photograph: (AI)
The global solar photovoltaic (PV) operations and maintenance (O&M) market reached 348 GW of assessed capacity at the end of 2025, adding 61 GW during the year, as leading service providers continued to consolidate their position in the market amid divergent regional trends, according to Wood Mackenzie.
The top 15 O&M vendors collectively managed 200 GW at the end of 2025, accounting for 57% of the assessed global market. The companies added 41 GW to their portfolios during the year, highlighting the increasing concentration of the global O&M sector.
The findings are part of Wood Mackenzie’s Global Solar PV O&M Service Provider Dynamics 2026 report, which tracks fleet sizes, cost trends and service strategies across more than 130 O&M vendors operating in the Americas, Asia Pacific excluding China (APeC), and Europe, the Middle East and Africa (EMEA).
“The global O&M market is consolidating quickly around a core group of scaled providers, but the dynamics look very different depending on where you are,” said Khalif Ahmad Zikri, research analyst at Wood Mackenzie.
“In North America, a mature and competitive market is driving down costs while independent service providers strengthen their dominance. In the Middle East and Africa, we are seeing a near-doubling of volumes and a wave of new entrants chasing an underpenetrated opportunity. These are fundamentally different markets at very different levels of development,” he added.
Novasource Power Services retained its position as the world’s largest solar PV O&M provider, with 38.4 GW under management at the end of 2025. RES Energy Global Services, SOLV Energy, Solarig Energy Services and Recurrent Energy rounded out the top five providers. Several leading vendors expanded their portfolios across multiple regions as they sought to strengthen their market positions. BayWa r.e. Services and Origis Energy Services entered the global top 15, adding 2.6 GW and 1.8 GW, respectively, to their O&M portfolios.
The North American market continued to see strong competitive pressure, with full-wrap O&M contract costs declining 18% year-on-year. The decline reflects the maturity of the regional market and increasing competition among service providers. Independent O&M providers continued to strengthen their presence in North America, contrasting with the rapid expansion and entry of new players seen in less-developed markets.
O&M volumes in the Middle East and Africa nearly doubled in 2025, highlighting the region’s growing importance as solar installations expand and asset owners increasingly seek professionalized operations and maintenance services. The sharp increase in volumes has also attracted new entrants seeking to capitalize on what Wood Mackenzie describes as an underpenetrated O&M opportunity.
Engie and Sterling & Wilson recorded some of the strongest growth among individual vendors in 2025. Engie more than doubled its O&M portfolio, moving up six places to eighth in the global rankings. The growth was driven primarily by a 172% expansion in its Americas portfolio.
Sterling & Wilson recorded 53% year-on-year growth, taking its global O&M portfolio to 13.5 GW and moving it into sixth place globally. Its position was supported by a strong presence in the APeC region, where it leads the market with 12.2 GW under management.
Among second-tier vendors, megaom, FRV’s standalone O&M entity, recorded the fastest growth. Its portfolio expanded 243% to 3.8 GW globally, taking the company into the global top 30 for the first time. The overall growth of the solar PV O&M market, combined with increasing concentration among the largest providers, points to a sector undergoing rapid consolidation. At the same time, regional differences in market maturity, pricing and penetration are creating distinct growth opportunities for both established players and new entrants.
I have also *added the North America cost decline and Middle East & Africa growth as dedicated sections, because those are important news points from the original release and deserve more prominence in a news report rather than being buried in the opening bullets.
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