The global solar photovoltaic (PV) operations and maintenance (O&M) market reached 348 GW of assessed capacity at the end of 2025, an increase of 61 GW from the previous year, according to a new report by Wood Mackenzie.
The findings, published in Wood Mackenzie’s Global Solar PV O&M Service Provider Dynamics 2026 report, track fleet sizes, cost trends and service strategies across more than 130 O&M vendors operating in the Americas, Asia Pacific excluding China, and Europe, the Middle East and Africa.
The report found that the market is becoming increasingly concentrated among larger service providers. The top 15 O&M vendors added 41 GW during 2025, taking their combined portfolio to 200 GW and increasing their share of the global market to 57%.
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.
BayWa r.e. Services and Origis Energy Services entered the top 15 rankings after adding 2.6 GW and 1.8 GW, respectively, to their portfolios. Several leading providers are also expanding across regions to strengthen their positions in the increasingly competitive market.
Regional market dynamics varied significantly. North America continued to show characteristics of a mature and competitive O&M market, with increasing cost pressures and independent service providers (ISPs) strengthening their market position. In contrast, the Middle East and Africa recorded close to a doubling in O&M volumes, attracting new providers as companies target opportunities in the relatively underpenetrated market.
Engie and Sterling & Wilson recorded notable growth during 2025. Engie more than doubled its O&M fleet and moved up six positions to rank eighth globally, supported primarily by a 172% expansion in its Americas portfolio.
Sterling & Wilson increased its O&M portfolio by 53% year on year to 13.5 GW, moving into sixth place globally. The company maintained a leading position in the Asia Pacific region excluding China, with 12.2 GW under management.
Among second-tier providers, megaom, FRV’s standalone O&M business, recorded the highest growth rate. Its portfolio increased 243% to 3.8 GW globally, enabling the company to enter the global top 30 for the first time.
The findings highlight the continued expansion and consolidation of the global solar PV O&M market as installed solar capacity grows and asset owners increasingly rely on scaled service providers to manage and optimize their operating fleets.
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