Solar Energy

Wood Mackenzie: Global Solar O&M Market Reaches 348 GW

According to Wood Mackenzie, the global solar operations and maintenance market reached 348 GW at the end of 2025, driven by consolidation among the top fifteen providers and sharply diverging regional dynamics.

August 31, 2026 — energynewsSectors Solar EnergyPhotovoltaicThemes Markets & FinanceSector AnalysisCompanies NovaSource Power ServicesmegaomEngieSterling & WilsonFRVCountries United StatesJapan

The global solar photovoltaic operations and maintenance (O&M) market reached 348 gigawatts (GW) of assessed capacity at the end of 2025, a year-on-year increase of 61 GW, according to new analysis from Wood Mackenzie. This continued expansion of the global installed base is reflected in the growing number of new solar projects, such as the 200 MW Lumberton solar project in Texas recently acquired by Sol Systems, or the call for partners launched by Hawke's Bay Airport for its solar farm in New Zealand. The top fifteen vendors in the sector have tightened their grip on the market, while regional dynamics diverge sharply from one region to another.

A global market fragmented by region

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. According to Khalif Ahmad Zikri, research analyst at Wood Mackenzie, the mature and competitive North American market is driving costs down while independent service providers (ISPs) strengthen their dominance there. In the Middle East and Africa, volume under management has nearly doubled, driven by a wave of new entrants attracted by a still underpenetrated market. The two regions therefore display radically different levels of maturity.

Top 15 vendors tighten their grip

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, with 38.4 GW under management at the end of 2025. RES Energy Global Services, SOLV Energy, Solarig Energy Services and Recurrent Energy held on to 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 place 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 region excluding China, where it leads the market with 12.2 GW under management — a dynamic that accompanies the rise of Asian solar projects such as the 1.5 MW solar power purchase agreement signed between Nagaki Shoji and Sanden in Japan.

Megaom posts the sharpest growth among second-tier vendors

Among second-tier vendors, megaom, FRV's standalone O&M entity, posted the most dramatic growth rate, expanding its portfolio by 243% to reach 3.8 GW globally. The company thus entered the top 30 for the first time. These contrasting trajectories illustrate how quickly the solar O&M sector is consolidating around a core group of increasingly scaled providers, while still leaving room for new entrants to emerge in less mature markets.