Amusement Parks Market

Global Amusement Parks Market Research Report: By Amusement Parks Rides (Mechanical Rides, Water Rides, Other Rides), By Amusement Parks Age (Up to 18 years, 19 to 35 years, 36 to 50 years, 51 to 65 years, More than 65 years), By Amusement Parks Revenue Source (Ticket, Food & beverage, Merchandise, Hotels/Resorts, Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.

Automobile & Transportation | January 2024 | Report ID: EMR00379 | Pages: 301

 

The global amusement parks market was valued at USD 49.25 billion in 2023 and is estimated to reach approximately USD 93.15 billion by 2032, at a CAGR of 7.3% from 2024 to 2032.

 

Amusement parks are thriving centers of happy entertainment that captivate visitors of all ages with their diverse array of attractions and exhilaration. These fanciful wonderlands, which combine aspects of fantasy, adventure, and heart-pounding encounters, have become cultural icons. They act as immersive playgrounds where guests explore a wide range of emotions, from awe-in-themed worlds painstakingly created to transport guests into both actual and imagined realms, to excitement on tall roller coasters. The amusement park industry has grown to be a multibillion-dollar sector, with ongoing innovation to suit a wide range of interests and inclinations.

The scene was set by pioneering parks like Disneyland, which gave rise to a global wave of themed parks with distinctive stories and attractions. The voyage of the thrill-seeker is enhanced by technological breakthroughs that have become indispensable, enabling hyper-realistic simulations and augmented reality encounters. These amusement parks are more than just collections of rides; they are fully immersive storytelling environments where engineering marvels and creativity coexist to create a sense of escape from reality. They continue to grow their products, which now include immersive environments based on popular brands and heart-stopping coasters, catering to a worldwide audience that transcends cultural borders. The charm of amusement parks never goes out of style since they offer happiness, excitement, and a break from everyday life.

 

 

 

AMUSEMENT PARKS MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

49.25 Bn

Projected Market Value (2032)

93.15 Bn

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Amusement Parks Rides, By Amusement Parks Age, By Amusement Parks Revenue Source, & Region

Segments Covered

By Amusement Parks Rides, By Amusement Parks Age, By Amusement Parks Revenue Source, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Amusement Parks Market Dynamics

Changes in customer demographics and preferences have a significant impact on park offers. To accommodate a range of age groups and interests, parks deliberately adapt by introducing technology, themed experiences, and a variety of activities. Additionally, changes in the economy and discretionary income have an impact on visitor numbers and purchasing habits, which forces parks to strike a balance between affordability and value. Parks are driven to develop by competition, which acts as a catalyst. Competition drives the creation of innovative rides, immersive experiences, and distinctive themes, creating a dynamic atmosphere.

The dynamic of the market is increased through collaborations with entertainment companies, film studios, and owners of intellectual property, which enable parks to leverage their existing fan bases and tap into popular culture. Global events, legislative modifications, and environmental factors all influence the industry's direction. Park operations and visitor confidence are greatly impacted by safety regulations, environmental sustainability initiatives, and changes brought on by pandemics. The industry's adaptability to changing market conditions, technological advancements, and user input is what makes it resilient. In order to maintain a dynamic and ever-thriving amusement park business, parks must be able to successfully balance innovation, safety, affordability, and entertaining experiences.

 

Global Amusement Parks Market Drivers

  • Themed Experiences and Intellectual Property Integration

These components harness the emotional bond that viewers have with their favorite books, films, and characters to drive visitor engagement to new heights. Parks carefully partners with the biggest names in entertainment, obtaining licensing to develop enduring brands and stories. Through this integration, visitors are submerged in well-known worlds as rides, attractions, and entire park areas are transformed into immersive story-driven journeys. Parks captivate tourists and evoke a sense of wonder and nostalgia by meticulously re-creating iconic landscapes, characters, and tales.

By drawing in new audiences and introducing them to these immersive experiences, this driver expands the park's appeal to a wider range of demographics and cultural backgrounds. The secret to the success is the mutually beneficial partnership that exists between amusement parks and entertainment franchises. This relationship allows both parties to capitalize on each other's fame to create unique and memorable experiences that go beyond simple attractions and leave guests with lifelong memories.

  • Demographic Shifts and Consumer Preferences

The amusement park sector is significantly impacted by changes in customer preferences and demographics, which shape park experiences and offers to cater to a wide range of audience needs. A knowledge of shifting demographics, including age group preferences and cultural inclinations, helps parks customize their entertainment offerings and attractions. Whether it is satisfying the needs of thrill-seeking youth, delivering family-friendly activities, or providing attractions that appeal to older generations' nostalgia, parks assess and adjust to the changing needs of their patrons. In order to fulfill the demands of a more tech-savvy and experience-driven audience, parks also adapt by combining technology, immersive storytelling, and themed experiences as societal trends and consumer tastes change. This force not only propels the development of varied attractions but also shapes operational facets including cost structures, ease of access, and the addition of inclusive features to serve a broader spectrum of visitors. Amusement parks may effectively interact with their audiences and generate engagement, loyalty, and continuous relevance in a constantly shifting market context by becoming aware of these trends.

 

Restraints:

  • Regulatory Compliance and Safety Standards

The amusement park sector faces considerable constraints due to regulatory compliance and safety standards, which necessitate large investments in infrastructure, training, and maintenance to guarantee conformance. Adhering to strict safety regulations frequently necessitates significant financial investments and operational modifications. The implementation and continuing improvement of safety protocols for rides, amenities, and guest management require a substantial financial commitment, which affects parks' total capital expenditure. Furthermore, changing requirements necessitate constant adjustments, which cause delays in operations and extra expenses. It becomes difficult to strike a balance between creativity and compliance when new experiences or attractions have to adhere to strict safety regulations.

The complexity of certifications, inspections, and compliance processes might result in drawn-out procedures that postpone the opening of new attractions or park expansions. Tougher regulation frameworks might also prohibit specific kinds of rides or experiences, which would limit theme parks' creative options and possibly reduce their competitive advantage. Although visitor safety is of utmost importance, the strict regulatory environment places a constant pressure on amusement parks, necessitating constant watchfulness and financial investment and affecting their ability to innovate quickly in response to market demands.

  • Seasonal Dependence and Weather Sensitivity

Seasonal fluctuations cause these parks' visitor counts to fluctuate, with peak times falling around holidays, school breaks, and warmer weather. This reliance is made more severe by weather sensitivity, since unfavorable elements such as rain, intense heat, or low temperatures can discourage tourists and interfere with park operations, resulting in significant income loss during key times. Consistent year-round profitability is hampered by reliance on particular seasons or excellent weather. Lower foot traffic during off-peak seasons makes it difficult to maintain operating expenditures, which could put a pressure on finances. These difficulties are exacerbated by unpredictable weather, which makes it harder for parks to predict attendance correctly and make plans accordingly. Strategic planning is required to diversify revenue streams, limit weather-related disruptions through indoor events or attractions, and apply flexible pricing techniques to encourage visits during off-peak hours in light of this dependency.

 

Opportunities:

  • Technological Innovation and Integration

Developments in augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) provide prospects for developing hyper-immersive experiences that obfuscate the boundaries between the actual world and the digital one. With the use of these technologies, parks are able to create individualized, interactive experiences that engage guests to an entirely new degree. For example, AR-enhanced treasure hunts add levels of involvement to park exploration, while VR-powered rides take visitors to fantasy worlds. In addition, technology is included into guest services, ticketing, and park operations in addition to attractions. Mobile apps that have augmented reality maps, tailored suggestions, and queue management systems improve the experience of visitors, making it more convenient and satisfying. Parks may better understand visitor behavior by utilizing data analytics and AI-driven insights, which enables customized experiences and focused marketing initiatives. In addition, collaborations with tech firms stimulate creativity and result in the development of innovative experiences.

  • Expansion of Ancillary Services

Parks might become all-encompassing entertainment hubs by expanding their offerings beyond rides. Constructing resorts, lodging facilities, restaurants, and entertainment centers next to parks results in a comprehensive experience that invites guests to stay longer and partake in a wider variety of recreational pursuits. In addition to being convenient, lodging on or close to park grounds encourages visitors to completely engage with the park's atmosphere and builds stronger relationships with them.

The story of the park is enhanced when themed or immersive hotel experiences are designed, guaranteeing that the journey never ends when guests leave the park. Furthermore, a variety of food options and entertainment alternatives enhance the park experience by accommodating a wide range of tastes and preferences and lengthening the duration of the visit. Moreover, well-managed supplementary services can function as year-round revenue streams, lessening the effect of seasonal variations in the park. Unique packages that combine park admission with lodging or dining options produce value propositions that draw customers and optimize income possibilities.

 

Segment Overview

By Amusement Parks Rides

Based on amusement park rides, the global amusement park market is divided into mechanical rides, water rides, and other rides. The water rides category dominates the market with the largest revenue share in 2023. Another big segment in the amusement park industry is water-based attractions. Among these rides are water slides, lazy rivers, log flumes, and coasters. Particularly in warmer climates or seasons, water coasters are made to offer cool sensations. They frequently include splashes, drops, and other water-themed components to provide thrills, excitement, and a way to cool off. The category of mechanical rides includes a broad range of attractions that run on mechanical systems. Among these rides are drop towers, carousels, roller coasters, Ferris wheels, and spinning attractions. They frequently concentrate on offering exhilarating experiences by utilizing sharp movements, abrupt changes in height, and strong G-forces.

 

By Amusement Parks Age

Based on the amusement park age, the global amusement parks market is categorized into up to 18 years, 19 to 35 years, 36 to 50 years, 51 to 65 years, and more than 65 years. The 19 to 35-year-old category leads the global amusement parks market with the largest revenue share in 2023. This age group consists of young adults and people who are in the peak of their social and professional lives. This demographic is catered to by attractions that offer a variety of exhilarating experiences, fast rides, immersive theme parks based on blockbuster films or TV shows, and entertainment alternatives for the more daring and tech-savvy visitor.

The category aimed at those up to 18 years old mostly targets young adolescents, teens, and youngsters. This group's preferred attractions include interactive play areas, family-friendly rides, themed zones based on fairy tales or popular cartoons, and somewhat thrilling rides appropriate for younger guests. The age group of 36 to 50 years old usually consists of middle-aged people, working professionals, and parents. This area's attractions may focus on combining kid-friendly activities with more laid-back or nostalgic options. A variety of mildly thrilling rides, family-friendly attractions, live performances, and immersive experiences that arouse nostalgia or cultural significance could be included in this. This age group of visitors may be looking for more relaxed activities, such as moderate rides, beautiful scenery, cultural displays, live performances, and relaxation spots. This group enjoys immersive, less intense activities that satisfy their comfort and entertainment needs. The over 65 age group includes seniors and older people. This group's preferred attractions may put comfort, accessibility, and cultural experiences first.

 

By Amusement Parks Revenue Source

Based on the amusement park revenue source, the global amusement park market is segmented into tickets, food & beverage, merchandise, hotels/resorts, others. The hotels/resorts segment dominates the amusement park market. income from lodging establishments inside or next to the park, such as hotels, resorts, or other lodging establishments. To provide guests with a full entertainment experience and promote longer stays, amusement parks frequently incorporate hotel alternatives. Income from the selling of food and drinks inside the park.

The revenue from cafes, restaurants, food stands, and vending machines is included in this category. To accommodate guests' varying interests and preferences, amusement parks frequently provide a wide range of food alternatives. Income from the sale of goods like garments, toys, souvenirs, and other branded products. This market is influenced by park gift shops and retail establishments that take advantage of the sentimental attachment that guests have to the park's themes and attractions.

 

Global Amusement Parks Market Overview by Region

The global amusement parks market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific emerged as the leading region, capturing the largest market share in 2023. The demand for entertainment and leisure activities has increased across this region's countries due to rapid urbanization, the growth of the middle class, and rising disposable incomes. Significant investments in the amusement park industry have been made in nations like China, Japan, South Korea, and India, which has resulted in the construction of large, cutting-edge parks. In addition, the region's rich cultural legacy and the incorporation of technology into entertainment have stimulated the development of engaging and immersive attractions. The business has also grown as a result of advantageous government policies, tourism promotion, and the emergence of themed entertainment complexes. Due to this combination of circumstances, the Asia-Pacific area is now recognized as a major hub for theme parks, drawing both local and foreign tourists and fostering ongoing innovation in the sector.

 

 

 

In the amusement park sector, North America's leading compound annual growth rate (CAGR) is expected to be supported by strong economic circumstances, ongoing attraction innovation, and strategic investments over the projected period. The region's concentration on customer-centric experiences and use of new technologies, along with its history of pioneering entertainment concepts, supports continuous tourist engagement. A robust tourism industry, strong consumer spending, and a dedication to building and improving parks place North America as a hub for the amusement park industry's dynamic expansion.

 

Global Amusement Parks Market Competitive Landscape

In the global amusement parks market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global amusement parks market include,

  • Cedar Fair Entertainment Company
  • Disney
  • Comcast
  • Chimelong Group Co., Ltd
  • Ardent Leisure Group Limited.
  • Fantawild Holdings Inc.
  • IMG Worlds of Adventure
  • Merlin Entertainments
  • SeaWorld Parks & Entertainment, Inc.
  • Warner Media, LLC., and various others.

 

Global Amusement Parks Market Recent Developments

  • In November 2023, An $8 billion deal to combine Cedar Fair and Six Flags will create a massive amusement park.  Operating under the Six Flags brand, the merged firm will have its headquarters located in North Carolina and provide a total of 27 theme parks, 15 water parks, and 9 resorts spread over 17 states, Canada, and Mexico.
  • In October 2023, Eleven purchases have been undertaken by PARQUES REUNIDOS across a variety of industries, including theme and amusement parks, national parks, zoos and aquariums, and tour operators. The business has invested more than $505 million on purchases.
  • In May 2023, Leading family amusement park operator Five Star Parks & Attractions has announced the purchase of Scene75 Entertainment, an internationally recognized brand of amusement centers with four locations in Ohio (Cincinnati, Cleveland, Dayton, and Cincinnati) and one in Chicagoland (Romeoville, Illinois).

 

Scope of the Global Amusement Parks Market Report

Amusement Parks Market Report Segmentation

ATTRIBUTE

DETAILS

By Amusement Parks Rides

  • Mechanical Rides
  • Water Rides
  • Other Rides

By Amusement Parks Age

  • Up to 18 years
  • 19 to 35 years
  • 36 to 50 years
  • 51 to 65 years
  • More than 65 years

 

By Amusement Parks Revenue Source

  • Ticket, Food & beverage
  • Merchandise
  • Hotels/Resorts
  • Others

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Amusement Parks Market Size and Forecast: To identify and estimate the market size for the global amusement parks market segmented by amusement parks rides, by amusement parks age, by amusement parks revenue source, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of amusement parks between 2019 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global amusement parks market
  • Market Influencing Factors: To find out the factors which are affecting the sales of amusement parks among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global amusement parks market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

  • Raw Material Suppliers
  • Industry Professionals
  • Tourism and Hospitality Professionals
  • Students and Academia
  • Governments, Associations, and Industrial Bodies
  • Investors and Trade Experts

 

 

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

On the basis of Geography, The amusement parks market is classified into North America, Europe, Asia Pacific, and the Rest of the world.
According to amusement parks market research, the market is expected to grow at a CAGR of ~7.3% over the coming years.
North America is expected to register the highest CAGR during 2024 - 2032.
Asia-Pacific held the largest share in 2023.
The major players operating in the global amusement parks market include Cedar Fair Entertainment Company, Disney, Comcast, Chimelong Group Co., Ltd, Ardent Leisure Group Limited., Fantawild Holdings Inc., IMG Worlds of Adventure, Merlin Entertainments, SeaWorld Parks & Entertainment, Inc., Warner Media, LLC ,and various others.