While several key markets in the Asia-Pacific (APAC) region experienced declines in deal activity during 2024, India bucked the trend with an impressive 13.7 per cent year-on-year increase in deal volume.

This strong performance contributed significantly to the APAC region outperforming other regions globally, despite a slight 1.4 per cent overall decrease, according to GlobalData.

The APAC region saw 14,621 mergers & acquisitions (M&A), private equity, and venture financing deals in 2024, compared to 14,829 deals in the previous year. Despite this marginal dip, the region’s performance was stronger than other global regions.

“While deal volume declined across all regions in 2024, APAC stood out with a relatively modest decrease,” Aurojyoti Bose, Lead Analyst at GlobalData, said.

• Also read: India’s M&A activity drops to 4-year low at $80.5 billion in 2024, deal volume rises 3.3%

“Unlike North America and South & Central America, which experienced double-digit declines, APAC’s decline was the smallest among all regions, reflecting its comparatively stronger performance in a challenging global market,” he said.

GlobalData’s analysis shows that North America and South and Central America experienced substantial falls of 10.6 per cent and 15.2 per cent year-on-year, respectively, while Europe, the Gulf, and Africa also saw decreases of 6.7 per cent and 4.7 per cent, respectively.

The APAC region witnessed a mixed bag in the deal activity. While India’s 13.7 per cent growth led the way in 2024, markets such as China, Singapore, Malaysia, Hong Kong, Indonesia, and New Zealand saw declines of 20.8 per cent, 13 per cent, 10.6 per cent, 3.6 per cent, 33.7 per cent, and 8.2 per cent, respectively, compared to 2023. 

However, Japan, Australia, South Korea, and Thailand also recorded improvements in deal volume, with increases of 30.2 per cent, 6.7 per cent, 8.2 per cent and 6.5 per cent, respectively, further contributing to the region’s relative strength.

The trend across different deal types within the APAC region also varied. M&A deal volume increased by 5.9 per cent during 2024 compared to 2023, while the number of private equity and venture financing deals declined by 8.8 per cent and 8.9 per cent year-on-year, respectively.

“APAC’s ability to outpace other regions reflects the region’s dynamic and evolving market landscape,” Bose said.

“The performance of key markets such as India and Japan suggests that targeted growth strategies and regional resilience continue to offer significant opportunities for investors and businesses looking to navigate a challenging global environment,” he pointed out.