Global solar PV O&M market reaches 348 GW as consolidation tightens and costs fall

• Top 15 vendors now control 57% of the global market, managing 200 GW 

• Full-wrap O&M contract costs fall 18% year-on-year in North America 

• Middle East and Africa O&M volume nearly doubles in 2025 

The global solar PV operations and maintenance (O&M) market reached 348 GW of assessed capacity at the end of 2025, a year-on-year increase of 61 GW, as the top 15 vendors tightened their grip on the market and regional dynamics diverged sharply, according to new analysis from Wood Mackenzie. 

The findings are published in 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 vendors operating in the Americas, Asia Pacific (excluding China) and Europe, Middle East and Africa. 

"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, competitive market is driving down costs while ISPs 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." 

Top 15 vendors tighten grip on a growing market 

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 deliver standout growth 

The most striking individual performances of 2025 came from Engie and Sterling & Wilson. Engie more than doubled its O&M fleet leapfrogging 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 APeC region, where it leads the market with 12.2 GW under management. 

Among 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.