San Francisco, 4 March 2019: The Report Amusement Parks Market Size, Share & Trends Analysis Report By Age, By Rides
(Water, Mechanical), By Revenue Source (Ticket, Merchandise, Food &
Beverage, Hotels), And Segment Forecasts, 2018 - 2025
The global amusement parks market size is expected to reach USD 70.83 billion by 2025, according to a study conducted by Grand View Research, Inc., progressing at a CAGR of 5.8% during the forecast period. Rising introduction of hotels and resorts in parks premises and increasing spending capacity of consumers is expected to stimulate the growth of the market. Moreover, amusement parks are appealing to visitors since they offer entertainment options for the entire family and include multiple theme-based attractions, live entertainment shows, and various rides for people of all age groups. In addition, disability access and excellent hospitality are other factors that draw people to amusement parks.
Rapid expansion of the global amusement
parks market, especially in Europe and Asia Pacific, is also one of the primary
factors positively influencing market growth. For instance, Disney’s theme
parks are established across the globe in different continents. Additionally,
such parks attract millions of visitors every year. According to the Themed
Entertainment Association (TEA), Disneyland California received 18.3 million
visitors while Tokyo Disneyland received 16.8 million visitors in 2017.
Amusement parks are an essential part of
the global entertainment and leisure industry. The latter is categorized into
water parks, amusement parks, and theme parks. Demographic changes and rapid
evolution of economic and social landscape are shaping the amusement park
market. For instance, according to IAAPA, in the U.S., children below the age
of 18 are not allowed on rides that include loops and inversions. Owing to
this, various parks have introduced adventurous and thrilling rides for adults.
This has resulted in popularity of amusement parks not only among kids but also
among adults. This change in the age-based demographic aspect was undertaken by
the industry to attract youngsters and their parents.
The market is marked by presence of key
players, owing to which new entrants face challenges to enter the market.
Significant capital investment, land procurement, climatic factors, and
uncertainty about business success are some of the roadblocks in the growth of
the market.
Access Research Report of Amusement
Parks Market @ www.grandviewresearch.com/industry-analysis/amusement-parks-market
Further key findings from the study suggest:
· Among ride types, the mechanical rides
segment is projected to witness the highest growth over the forecast period.
This is primarily driven by popularity of roller coasters among visitors who
belong to 19 to 35 years of age group.
· In 2017, the water rides segment accounted
for over 13.0% of the overall revenue owing to 1.2% increase in the number of
visitors at water parks across the globe
· The 19 to 35 years age segment is likely to
emerge as the fastest growing segment during the forecast period owing to
presence of youngsters in this age group
· The 35 to 50 years age segment also holds
sizeable share in the market. Amusement parks organize entertainment shows,
ferry rides, and vintage theme-based activities in order to attract visitors
from this age group
· The hotels & resorts segment is
expected to post the highest CAGR during the forecast period owing to
increasing investments from park owners to establish theme-based hotels and
resorts for visitors. Availability of hotels & resorts within premises of
park leads to visitors spending more time at the park
· North America was the leading regional
market in 2017. It is anticipated to register a significant growth rate during
the forecast period. The growth of the market can be attributed to domicile of
prominent players in the region
· Major market players include Walt Disney
Company, Six Flags Entertainment Corporation, Merlin Entertainment, and Comcast
Corporation. These players are engaged in introducing innovative and advanced
rides to gain a competitive edge in the market
· In 2017, Six Flags Entertainment
Corporation launched Twisted Cyclone, the fastest and loopiest roller coaster
ride across the globe.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the
global amusement parks market on the basis of rides, age, revenue source, and
region:
Amusement Parks Rides Outlook (Revenue, USD
Million, 2014 - 2025)
·
Mechanical Rides
·
Water Rides
·
Other Rides
Amusement Parks Age Outlook (Revenue, USD
Million, 2014 - 2025)
·
Up to 18 years
·
19 to 35 years
·
36 to 50 years
·
51 to 65 years
·
More than 65 years
Amusement Parks Revenue Source Outlook
(Revenue, USD Million, 2014 - 2025)
·
Tickets
·
Food & Beverages
·
Merchandise
·
Hotels/Resorts
·
Others
Amusement Parks Regional Outlook (Revenue,
USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
Access Press Release of
Amusement Parks Market@ www.grandviewresearch.com/press-release/global-amusement-parks-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More Information: www.grandviewresearch.com
