For the fourth year in a row, respondents to Dykema’s 17th annual M&A Outlook Survey identified the automotive industry as likely to be the busiest sector with M&A activity in the coming 12 months.

The full report was released Thursday.

Overall, the survey showed that respondents believe nothing will break the stride of U.S. M&A dealmakers over the year to come, with most viewing the Biden administration’s legislative agenda as positively impacting activity.

A resounding 75 percent of respondents expect the U.S. M&A market will strengthen in the next 12 months, while only 7 percent anticipate it will weaken. Respondents not only predict deal volumes will be up across the board, from small to midmarket to megadeals of $1 billion and more, but 9 out of 10 also expect M&A activity among privately owned businesses to increase over the next year.

Dykema has seen its own M&A activity sharply increase in recent months, closing 26 transactions worth $22 million in Q3 of 2021 alone.