Solar O&M market hits 348GW as top 15 vendors squeeze rivals

They raised their combined share to 57% of the global market.

The global solar photovoltaic (PV) operations and maintenance (O&M) market reached 348 gigawatts (GW) of assessed capacity at the end of 2025.

This marks a year-on-year (YoY) increase of 61 GW, according to Wood Mackenzie's Global Solar PV O&M Service Provider Dynamics 2026 report.

The report tracks fleet sizes, cost trends, and service strategies across more than 130 vendors operating in the Americas, Asia-Pacific (excluding China), and Europe, Middle East and Africa.

The top 15 global O&M vendors collectively added 41 GW in 2025, bringing their combined portfolio to 200 GW and raising their share of the total market to 57%.

Novasource Power Services retained its position as the world's largest solar PV O&M provider, ending 2025 with 38.4 GW under management.

RES Energy Global Services, SOLV Energy, Solarig Energy Services, and Recurrent Energy held their top five positions, with several pursuing active cross-regional expansion to defend their standings.

BayWa r.e. Services and Origis Energy Services entered the top 15, adding 2.6 GW and 1.8 GW, respectively.

Engie and Sterling & Wilson recorded the “most striking” individual performances of 2025.

Engie more than doubled its O&M fleet, surpassing six competitors to reach eighth in the global rankings, driven primarily by a 172% expansion of its Americas portfolio.

Sterling & Wilson recorded 53% annual growth to reach 13.5 GW, climbing to sixth place globally on the back of its dominant position in the Asia-Pacific excluding China region, where it leads the market with 12.2 GW under management.

Amongst second-tier vendors, megaOM—FRV's standalone O&M entity—posted the most dramatic growth rate, expanding its portfolio by 243% to 3.8 GW globally and entering the top 30 for the first time.

Full-wrap O&M contract costs fell 18% YoY in North America, whilst Middle East and Africa O&M volume nearly doubled in 2025.

"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.

Zikri added that the mature and competitive market in North America is driving down costs, whilst independent service providers strengthen their dominance.

“In the Middle East and Africa, we are seeing a near-doubling of volume and a wave of new entrants chasing an underpenetrated opportunity. These are fundamentally different markets at very different levels of development," he said.