Specifically in the logistics industry, several so-called mega-deals led to a near year-on-year doubling of M&A value to $173bn, according to data from PwC. And the deals are likely to continue.

Prominent among the 2015 deals: FedEx’s $4.8bn grab for TNT; XPO Logistics’ acquisitions of Norbert Dentressangle ($3.5bn) and Con-Way ($3bn); Japan Post’s $5.1bn purchase of Australia’s Toll Group; and Kintetsu World Express buying Singapore’s APL Logistics for $1.2bn from shipping line owner NOL, which was itself bought out a few months later by France’s CMA CGM in a $2.4bn deal.

Yes, deals are going to continue over the next few years. Driven by necessity as margins continue to fall, there is still room for consolidation in the industry and at least three or four of the top 50 companies are engaged in discussions right now. Money coming out of Asia, especially China, to buy developed market assets is likely to be a rising phenomenon. And as well as more small and mid-sized M&As, the last mile fulfillment and the logistics technology and software sectors will see increasing deal activity.

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