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.
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
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.
