Global M&A Intelligence Report

In this latest supplement to our firm-wide M&A report, we take a deep dive into the trends, priorities, and strategic decisions shaping deal-making across the global Industrials sector. This report can be read independently but, as the title says, also supplements DLA Piper’s main Global M&A Intelligence Report.

 Over the past two years, Industrials businesses have faced a complex mix of economic uncertainty, geopolitical tension, and supply chain disruption. In response, M&A strategies have evolved – shifting from bold expansion to focused consolidation, and from scope-driven ambition to scale-driven resilience.

What’s inside the report

• Deal dynamics: A clear shift from scope to scale deals, with businesses prioritizing operational efficiency and market familiarity over aggressive expansion.
• Sub-sector spotlight: Manufacturing dominated M&A activity, accounting for 73% of all deals, while Chemicals, Automotive, and Aerospace & Defense saw more targeted, strategic plays.
• Geographic trends: The US and Europe led the way, with domestic transactions making up 73% of all deals – a sign of caution and preference for known markets.
• Strategic priorities: From reshoring and infrastructure in the US, to sustainability in Europe, and vertical integration in Asia – regional M&A strategies reflect broader economic goals.
• Client insights: Direct feedback from our Industrials clients reveals a strong focus on ‘one-stop-shop’ models, technology integration, and supply chain resilience.

Why It Matters

This report offers valuable insight for Industrials businesses, investors, and advisors looking to understand the forces shaping the sector and the strategic rationale behind recent M&A activity. Whether you're planning your next move or simply staying informed, this analysis provides the clarity and context you need.

Download the report to explore how Industrials businesses are adapting, consolidating, and positioning themselves for long-term success in a rapidly evolving global market.

Methodology: This report is based on in-depth analysis of 2,953 M&A transactions completed in the global industrials sector between 1 January 2023 and 31 December 2024, alongside proprietary insights gathered through client surveys and interviews with DLA Piper’s industrials sector clients. These client perspectives form the foundation of the sub-sector insights and forward-looking analysis featured throughout the report.

Companies and deals were categorized using DLA Piper’s sector mapping, with target companies classified by their primary product offering. The industrials sector is defined here as comprising four key sub-sectors: Aerospace & Defense, Automotive, Chemicals, and general Manufacturing. All research and analysis were conducted in-house, with M&A statistics based on global market data. Definitions of all categories used can be found in the report glossary.