Amusement Parks Market Boosts Infrastructure Investments and Job Creation, Finds Maximize Market Research

PUNE, India, July 15, 2024 /PRNewswire/ -- Amusement Parks Market size was valued at USD 72.06 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 6.2% from 2024 to 2030, reaching nearly USD 109.80 Bn.

Reports on competitive analyses encompass company overviews, financial performances, product portfolios, and strategies of key players in the Amusement Parks Market. To assess strengths and weaknesses, a comprehensive SWOT analysis was conducted, while a PESTLE analysis was carried out to understand the impact of macroeconomic factors on the market. Also, the report includes detailed analyses of investments made by market players to enhance their global presence.

The research methodology utilized in analysing the Amusement Parks market encompasses a thorough approach that combines primary data which is often collected through surveys, interviews, and focus groups with industry experts and stakeholders such as owners and operators, investors and financiers government authorities, and industry associations. This allows for firsthand insights into market trends, consumer behaviour, and regulatory challenges and secondary research utilizing reports from government sources, industry publications, and financial statements. Market sizing and forecasting techniques are employed alongside competitive analysis to provide valuable insights into the market landscape. It also includes technological integration, environmental sustainability regulatory compliance financial performance customer experience and emerging trends which makes it an investor's guide. The report encompasses Rides, Age, Revenue segments and their analysis, which elucidates their influence on the market. The estimation methodology often adopts a bottom-up approach to accurately determine market sizes. 

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Global Amusement Parks Market 2023-2030: Key Highlights

• Historic Market Size 2017-2023
• CAGR of the market during 2024-2030.
• Detailed information on factors that will assist Amusement Parks market growth during the next seven years.
• An estimation of the Amusement Parks market size and the impact of country's GDP on Amusement Parks market.
• Forecasts on upcoming trends and changes in consumer behaviour.
• The growth of the Amusement Parks market
• Analysis of the competitive landscape and detailed information on companies.
• Comprehensive details of factors that will impede the growth of Amusement Parks companies.

Competitive Landscape

The Amusement Parks Market includes the presence of several global as well as regional key players. A few prominent players that offer Amusement Parks in the market are Cedar Fair Entertainment Company, The Walt Disney Company, Merlin Entertainments, SeaWorld Parks & Entertainment, Disney Parks and Resorts, Universal Studios Theme parks, Six Flags Entertainment Corporation, OTC Parks China, Shanghai Disneyland, Tokyo Disneyland, Hong Kong Disneyland and others.

What's New: Recent Additions and Updates

• ROI and Profitability Metrics.
• Market scenario for Amusement Parks covering the demand and services.
• Analysis and forecast of Amusement Parks market size.
• Segmentation and forecast Amusement Parks market based on end-use and regional division.
• Market Trends and Growth Projections.
• Risk Assessment.
• Sustainability and ESG Factors.
• Consumer Behaviour and Demographics.
• Innovative Business Models and Revenue Streams.
• Financial and Operational Benchmarks.

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Amusement Parks Market Overview

Amusement Parks Market is expected to reach US$ 109.80Bn. by 2030. A park with numerous entertainment-related attractions, including rides, games, and other activities, is known as an amusement park. A theme park is a particular kind of amusement park that centres its buildings and attractions on a main subject and frequently has many regions with various themes. Amusement parks are stable structures designed for continuous operation, as opposed to transient and mobile funfairs and carnivals. They offer attractions that often cater to a range of age groups and are more extensive than city parks and playgrounds.

The amusement park market, much like many other industries, experienced significant disruptions due to the COVID-19 pandemic. Restrictions varied widely from country to country, with China taking some of the toughest measures. As a major player in the market, China's stringent lockouts have had a ripple effect on amusement parks across the region, causing attendance to drop to 55% of 2019 levels. But China's OCT chain stood out by recovering 97% of its pre-pandemic arrivals, largely thanks to the acquisition of nine new properties and an aggressive downsizing strategy. Despite these challenges, the theatre market in Asia shows strong investment and is seeing the onset of consolidation as the industry matures. Once Chinese tourism is freed from government restrictions, the entire industry is expected to grow exponentially.  But the business has struggled with persistent labor shortages, especially in filling starting seasonal positions. Parks responded with a variety of strategies, including changes to work structures, higher hiring bonuses, and downsizing. Globally, economic conditions remain stressful, with rising commodity prices and inflation posing risks to the industry's near-term future. Nevertheless, the industry has historically shown resilience to economic cycles and is expected to continue to do so.

In Europe, many parks resumed operations in the summer of 2021, with some, such as Merlin, recording surpluses for 2019. Notable mentions include Europa-Park and Efteling, both of which attract 3 million visitors, rivaling Disneyland Paris, which had the highest attendance in Europe with 3.5 million visitors. Demand in the continent is strong and significant investments are planned in the coming years, which means that 2024 and 2025 will be strong years for the market.

The Middle East has also recovered rapidly, especially in the UAE, thanks to effective advocacy campaigns and tourist destinations. Expo 2020 Dubai was an important attraction in late 2021, showcasing the tourism potential of the region and helping to increase attendance at local parks. In the U.S. the demand identification and decreased concerns about COVID-19 outperformed other regions in the summer of 2021.  Water parks in North America in particular have grown significantly since 2020, approaching 2019 attendance.  Orlando, Florida, home to many top executives, has welcomed tourists back as COVID-19 precautions are taken and international travel is curtailed. The region has demonstrated resilience, as evidenced by how quickly it reopened after events such as Hurricane Ian.

Major operators are moving forward with a planned economy, which predicted a strong year in 2022.  Developing guest expectations in response to new attractions and enhanced experiences will be critical in 2024 and beyond.  The increasing popularity of immersive experiences and luxury offerings continues to shape the market, and parks seek additional revenue from unique experiences.

The travel industry, which is a key player in the theatre market, has also rebounded, with airlines working through staffing challenges to meet growing demand. This convenient return itinerary is positive for attractions and leisure markets. The stadium project, resilient as ever, managed to weather the worst effects of the pandemic and is now poised to recover, and continue its mission of bringing joy, happiness and hope to visitors on.

Top 25 Amusement/Theme Parks Worldwide

For a list of the top 25 amusement/theme parks and their attendance figures for the years 2022 and 2023, please request a sample.

In conclusion, the demand for Amusement Parks is constantly increasing worldwide driven by factors such as ongoing development in IoT infrastructure, and Increased adoption of blockchain technology for ticketing.  The Maximize Market Research report captures these trends in detail across various regions. It provides a comprehensive analysis of market trends, consumer preferences and competitive landscape in each category. This comprehensive perspective provides stakeholders with valuable information to navigate opportunities and challenges, and ensures strategic decisions for sustainable growth in the global Amusement Parks market.

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Amusement Parks Market Segment Overview

MMR has segmented the market based on

By Rides

• Mechanical Rides
• Water Rides
• Other Rides

By Age

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

By Revenue Source

• Ticket
• Food & Beverage
• Merchandise
• Hotels/Resorts
• Others.

Based on the Rides, the market is segmented into Mechanical Rides, Water Rides, and Other Rides. Mechanical Rides segment is expected to hold the largest market share of xx% by 2030. It's because more people are going to the theme parks and enjoying the tough roller coasters, huge rides, and 4D experiences. The market for mechanical rides in amusement parks is rising as a result of an emerging middle class, rising household expenditure on outdoor activities, and the opening of new theme parks by foreign players.

Water Rides segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. According to local weather patterns, water rides are ones that are only available at certain times of the year. For instance, during the winter months in Europe, the majority of water rides are closed. Additionally, parks that are open all year round provide a variety of extra amenities, including dining establishments, lodging, gift shops, golf courses, and other leisure activities.

Detailed segmentation values for each segment and explanations for growth are provided in the final report.

Amusement Parks Market Geography Overview

The North American region is expected to dominate the Amusement Parks Market during the forecast period 2024-2030. The North American region is expected to hold the largest market share of xx% by 2030. This is because the regional park team has offered a year-round full schedule of events, including festivals and shows. From modest, independent parks to industry heavyweights like Universal Studios and the Disney resorts. The majority of amusement parks in the U.S. and Canada are dedicated to providing thrill-seekers with excitement with jaw-dropping thrill rides, Frisbee rides, a motion-simulating Spider-Man ride, and dizzying roller coasters. The top theme parks in North America for families include Kings Dominion, Canada's Wonderland, Hersheypark, LEGOLAND Florida Resort, and Disney World.

In the final report, past and future numbers and explanations are incorporated seamlessly to provide a comprehensive understanding of the Global Amusement Parks market.

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