The GM initial public offering has been generating a lot of buzz lately. In light of the automaker's widely anticipated IPO, FierceFinance takes a look at the state of the IPO market in 2010 thus far.

The U.S. IPO market is regaining momentum. While the economy is experiencing a rather meek recovery, it seems the IPO market has managed to make some strides. In fact, the number of U.S. IPOs listed during the second quarter of 2010 (39 deals) is the highest for comparable periods since before the financial crisis, according to a study by PricewaterhouseCoopers. And for the first half of 2010, U.S. IPOs totaled 66 deals, worth $9.2 billion vs. 14 deals worth $2.3 billion for the first half of 2009. That's an upsurge of 470 percent.

The financial services industry is largely accountable. Financial sponsor-backed IPOs--via private equity firms--are leading the growth of the U.S. IPO market. Of the 39 new deals for Q2 2010, 32 came from financial sponsors, and garnered almost 84 percent of the total proceeds, said PwC. What's more, several of those public offerings priced above the expected range and traded higher in their debut, including:

Telsa Motors IPO: The high profile electric car manufacturer was one of the best performing IPOs for the first half of 2010. It was priced at $17 per share and jumped 40 percent in the aftermarket. The stock has since slowed down, and is now up 13 percent from its initial offering price.

Primerica IPO: This financial sponsor-backed IPO has been particularly prosperous. By July it was already up 40 percent from its $15 offering price, reports Investopedia. The financial services company was spun off by Citigroup.

CBOE Holdings IPO: The holding company for the Chicago Board Options Exchange was one of the largest exchanges to go public in 2010. The company sold 11.7 million shares at $29 per share, at the top of the expected range.

NXP Semiconductors NV IPO: The massive private equity-backed IPO has been less fortunate. It priced shares at $14 each, nearly 30 percent below the midpoint of the expected $18-$21 range, reports Reuters.

HCA IPO: In May, the private-equity backed hospital group filed for an IPO of about $4.6 billion. However, the amount HCA registered to sell could change by the time it prices, as it can take months to move from filing to listing.

The IPO market is making a comeback on a global scale. The first half of 2010 saw 590 IPOs worth $98.8 billion. That's more than four times the 134 deals registered in the first half of 2009, concludes an Ernst & Young Global IPO update.

China is most successful market. According to Bloomberg, Chinese companies earned the most profits ($31.8 billion) this decade in first-half IPOs. That first-half total doesn't even include Agricultural Bank of China's $19.2 billion sale in July. So far this year, ABC is the largest IPO in the world. Everbright Bank, which went public earlier this month, is China's second largest IPO. Everbright shares rose nearly 20 percent after it hit the aftermarket on the Shanghai Stock Exchange.

Hopeful outlook for future. IPO analysts are maintaining a positive attitude for the second half of 2010. "We have seen some positive signs of IPO activity in the past six months, and we remain confident that the IPO market will grow over the next two quarters," Gregory K. Ericksen, the Global vice Chair for Strategic Growth Markets for Ernst & Young, said in a statement. "Many issuers are awaiting the window of IPO opportunity to secure more favorable pricing."

Wall Street banks command underwriting globally. The top underwriting bank, year-to-date is JPMorgan Chase, with 185 deals worth $35.32 billion, reports the New York Times. Goldman Sachs is No. 2 with 128 deals worth $31.03 billion, and Morgan Stanley ranks No. 3, with 143 deals worth $25.49 billion.

More of this year's IPO activity:
Goldman Sachs looms large over GM IPO
Is the GM IPO worth the trouble for JPMorgan, Morgan Stanley
Goldman Sachs fares well in IPOs
The meaning of the BankUnited IPO
Freescale to follow NXP to IPO?
KKR, Bain to take HCA public in massive IPO
Primerica IPO bodes well for Citi stock sales