Amusement Parks Market Analysis Report By Age, By Rides, By Revenue Source And Segment Forecasts From 2018 To 2025

Report ID: MN17620073  |  Published: September 2020  |  No of Pages: 115
Format: Electronic (PDF)  |  Industry: Automotive and Parts

Industry Insights

The global amusement parks market size was accounted for USD 45.2 billion in 2017 and expected to grow with a CAGR of 5.8% over the forecast period, from 2018 to 2025. Accommodation facilities, merchandise, and innovative rides in amusement parks are attracting visitors of different age groups. Therefore, a rising number of visitors including children and parents are expected to drive the market growth over the forecast period.

U.S. amusement parks market

Growing sales through food & beverage retail outlets coupled with restaurants established inside these parks are key factors expected to drive the revenue of these parks. Moreover, to strengthen its position in the market, park owners are coming up with new technologies. Such as in 2016, Six Flags Entertainment Corporation launched a wristband that allows to track queues and ensures time management. Such technological innovations are expected to witness a positive impact on market growth. In addition, the ability to offer an adventurous experience despite unfavorable weather conditions is encouraging owners to invest in interior attractions. For example, in 2017, a theme park Efteling, invested USD 35.0 million to organize an indoor attraction namely Symbolica, which is the Palace of Fantasy. Such initiative has been taken by park owners to attract maximum visitors and strengthen their position in the market.

These parks attract children more as they are based on fictional characters where children can meet costumed characters such as characters from Marvel and Disney movies. For example, Universal Studios Orlando is popular for the Wizarding World of Harry Potter which includes different characters from the Harry Potter series. Establishments of such themes are expected to drive market growth in the next few years.

Rides Insights

Based on rides, the market is segmented into the water, mechanical, and other rides that include snow rides and flat rides. In 2017, mechanical rides dominated the market and held the largest share. In addition, it is expected to emerge as the fastest-growing segment over the forecast period.

Moreover, water rides are operated for particular seasons due to uneven climate conditions across the globe. For example, in European countries, water rides are closed during the winter season. Parks that are open for a year offer numerous additional services like accommodation, golf courses, souvenir stores, dining facilities, and other recreational/entertainment activities.

Age Insights

In 2017, the 19 to 35 years age group held the largest market share of over 30% and was projected to retain its dominance over the forecast period, registering a CAGR of 6.5%.

On the other hand, the 36 to 50 age group segment is expected to grow with a CAGR of over 6.0% from 2018 to 2025. As most of the parents are willing to accompany their children to amusement parks.

Revenue Source Insights

Based on revenue source, the market is segmented into merchandise, tickets, hotels/resorts, food & beverages, and others. In 2017, the tickets segment accounted for the largest market share in terms of revenue. The segment is projected to witness robust growth over the forecast period as amusement parks generate maximum revenue through tickets.

Global amusement parks market

Growing accommodation facilities like resorts and hotels in park premises is a key factor to generate revenue through hotels and resorts. Moreover, the segment is projected to grow with a significant CAGR of 7% over the forecast period. Further, food & beverage is projected to grow with a significant CAGR over the projected period. While taking a break, visitors spent money on food & refreshments, thereby, expected to drive segment growth over the forecast period.

Regional Insights

In 2017, Asia Pacific accounted for over 35% market share as most of the key market players are present in this region including Shanghai Disneyland, Tokyo Disneyland, Singapore, Chimelong Ocean Kingdom, Universal Studios Japan, Hong Kong Disneyland, and Universal Studios.

The European amusement parks market is expected to grow with a CAGR of 2.9% over the forecast period due to the establishment of several new parks. For example, Park of Poland started to build an amusement park, in 2017 and the construction of the first phase, Suntago completed in 2019. Suntago Water World includes different rides, mineral pools, thermal health baths, and spa complexes.

Impact of COVID-19

The outbreak of COVID-19 has affected adversely amusement park market growth. This pandemic has forced these parks to halt their operations to reduce the spread of virus infection. Amusement parks in several countries are urging governments to allow reopening as the restrictions caused huge losses. It is expected that governments across several countries will permit to reopen amusement parks with some safety measures and restrictions. This factor is expected to witness a positive impact on market growth in this situation.

On the other hand, several park owners are reopening their parks across the globe. For example, Disney theme parks in California have opened in July after being closed for nearly three months owing to the COVID-19 pandemic.

Amusement Parks Market Share Insights

The amusement park is highly competitive due to the presence of a large number of market players such as Walt Disney Company, Cedar Fair Entertainment Company, Chimelong Group Co., and Comcast Corporation. The emergence of several types of accommodation facilities coupled with technological advancement by industry players is expected to drive market growth. For example, in 2016, Ardent Leisure Group introduced New-Look Tiger Land Park in its Dreamworld theme park to attract more customers and create new job opportunities.

Report Scope

Attribute

Details

The market size value in 2020

USD 53,912.0 million

The revenue forecast in 2025

USD 70,826.2 million

Growth Rate

CAGR of 5.8% from 2018 to 2025

The base year for estimation

2017

Historical data

2014 - 2016

Forecast period

2018 - 2025

Quantitative units

Revenue in USD Billion and CAGR from 2018 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Rides; age; revenue source; region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Denmark; China; India; Japan; Hong Kong; Singapore; South Korea; Brazil; Mexico

Key companies profiled

Ardent Leisure Group; Cedar Fair Entertainment Company; Chimelong Group Co. Ltd; Comcast Corporation; Comcast Corporation; Walt Disney Company; SeaWorld Parks & Entertainment, Inc.; Six Flags Entertainment Corporation.

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For this study, Million Insights has segmented the global amusement parks market report based on rides, age, revenue source, and region:

• Rides Outlook (Revenue, USD Billion, 2014 - 2025)
    • Mechanical Rides
    • Water Rides
    • Other Rides

• Age Outlook (Revenue, USD Billion, 2014 - 2025)
    • Up to 18 Years
    • 19 to 35 Years
    • 36 to 50 Years
    • 51 to 65 Years
    • More than 65 Years

• Revenue Source Outlook (Revenue, USD Billion, 2014 - 2025)
    • Ticket
    • Food & Beverage
    • Merchandise
    • Hotels/Resorts
    • Others

• Regional Outlook (Revenue, USD Billion, 2014 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • The U.K.
        • Germany
        • France
        • Italy
        • Spain
        • Denmark
    • The Asia Pacific
        • China
        • India
        • Japan
        • Hong Kong
        • Singapore
        • South Korea
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa

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