Global M&A Industry Trends: 2025 Mid-Year Outlook

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  • Insight
  • July 10, 2025
17%

Rise in $1B+ deal volume in 2024 signals renewed momentum.

18%

Drop in mid-sized deal volume shows market bifurcation.

15%

Global M&A deal values rose 15% in H1 2025 despite volume decline

The global M&A landscape in 2025 is showing signs of resurgence, driven by a mix of strategic imperatives and shifting market dynamics. After a period of cautious optimism, dealmakers are now navigating a complex environment marked by geopolitical uncertainty, fluctuating interest rates, and evolving regulatory landscapes.

Large-scale transactions are leading the charge, with deals exceeding $1 billion increasing by 17% in 2024. These headline-grabbing moves are setting the tone for the broader market, encouraging other players to act decisively. However, the picture is mixed with mid-sized and smaller deals declined by 18%, reflecting a more selective and risk-conscious approach.

Key drivers of this renewed momentum include a strong CEO focus on growth and transformation, the accelerating impact of artificial intelligence, and a growing supply of assets from both private equity exits and corporate divestitures. Yet, dealmakers must remain vigilant. Wild cards such as volatile geopolitics, rising long-term interest rates, and valuation disparities across regions continue to pose challenges.

Despite these headwinds, M&A remains a critical lever for strategic growth. Companies with strong fundamentals and a clear transformation agenda are still attracting interest. As AI reshapes industries and competitive dynamics evolve, the imperative to act boldly, and smartly, has never been greater.

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Partner, PwC Ireland (Republic of)

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Partner, PwC Ireland (Republic of)

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