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The Global Amusement Park Market size is estimated to grow at a CAGR of 3.66% between 2022 and 2027. The size of the market is forecast to increase by USD 12,070.27 million. The market growth relies on factors such as increased baby-boomer visitors, investments in thrilling roller coasters, and ongoing innovation in amusement parks. Extensive research and development efforts in the tourism industry have led to the integration of modern amenities like pneumatic tower rides, interactive dark and 4D rides, hydraulic launch coasters, and giant rides, all aimed at attracting customers. An example of innovation in this space is the introduction of specialized personal assistant devices. These devices streamline queuing, food ordering, online ticketing, and locker booking, supported by features like fingerprint recognition, reducing hassle for visitors.
This amusement park market research report extensively covers market segmentation by type (tickets, hospitality, merchandising, and others), variant (mechanical rides, water rides, and other rides), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rise in the number of baby-boomer visitors is a key factor notably driving the amusement park market growth. Baby boomers are the cohorts following the silent generation and are associated with the rejection or the redefinition of traditional values. They are considered the wealthiest, most active, and healthiest population. Baby boomers are increasingly targeted by marketers, owing to their strong desire for novelty, authentic experiences, and willingness to participate in adventurous activities.
The rise in the number of baby-boomer visitors is likely to drive the growth of the global amusement park market, as amusement parks offer expensive and thrilling rides. The increase in the number of baby boomers will drive the demand for 4D rides, giant rides, and challenging roller coasters. The increase in innovations in roller coasters and other theme-park rides will attract more baby-boomer visitors. This will fuel the growth of the global amusement park market during the forecast period.
The rise in the popularity of IoT-enabled theme parks is a popular trend influencing the amusement park market growth. The IoT is revolutionizing different operations in amusement parks. It helps transmit and record customers' information easily. It provides customers with well-connected amenities and a unique experience using beacons and sensors. Certain applications of IoT-enabled theme parks help parents track their children's movements with the help of sensors that are present throughout the park.
The IoT wristband functions as a passport and serves as an entrance ticket for guests, and facilitates credit-card transactions. IoT-enabled theme parks also help identify the areas of improvement as they track and monitor all the activities related to the park. Such factors will drive the amusement park market.
The risks associated with amusement parks are major challenges impeding the amusement park market growth. Amusement parks are great sources of entertainment and offer unique, thrilling experiences to customers. However, instances of natural and man-made accidents are some of the associated risks that have been reported. Most of the incidents are reported as a result of the lack of maintenance of the rides, mechanical faults, and negligence of the ride operators.
Amusement park ride safety is a major concern of the operators. Rides such as roller coasters, bumper cars, spinning rides, and water slides are reported to be the most accident-prone rides. Most of the people that access these rides are children, and every year, around 60%-80% of children are prone to such accidents. Therefore, the risks associated with these rides are likely to limit the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Amusement Park Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CEDAR FAIR LP - The company focuses on operating amusement parks, water parks, and complementary resort facilities. The key offerings of the company include amusement parks under its brands Cedar Point and Valley Fair.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the tickets segment will be significant during the forecast period. The growth momentum is expected to accelerate during the forecast period, owing to the competitive prices of tickets and expenses incurred at the theme park. The average entry fee per person is USD 50-USD 75, which is competitive for entertainment activities.
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The tickets segment was valued at USD 29,810.92 million in 2017 and continued to grow until 2021. Expenses involved in amusement parks are food, hotel, and travel. In addition, some parks charge additional fees for different rides and events. However, the growing competition among the vendors, the charges, and additional incurred fares are expected to decrease, which, in turn, is expected to increase the growth of the market in focus during the forecast period.
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North America is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America is mainly driven by an increase in the number of international and local visitors in the region and the rising spending ability of customers. In addition, the improvements in the US economy and the increased instances of traveling are supporting the growth of the market. The major revenue-generating countries in North America are the US, Canada, and Mexico. The major industry players in the market in the US are Cedar Fair, SeaWorld Entertainment, Comcast, Walt Disney, and Six Flags Entertainment Corp. (Six Flags). Canada is a hub for adventure theme parks, such as Calypso Water Park, Limoges, Ontario; Calaway Park, Calgary, Alberta; and La Ronde, Montreal, Quebec. Mexico is also a leading country in North America, with popular theme parks such as La Feria, Enigma Rooms, and Plaza de Gaulle Tacubaya. Therefore, all of the abovementioned factors will drive the market growth during the forecast period.
The outbreak of the COVID-19 pandemic in 2020 hindered the growth of the regional market. However, the vaccination drives in 2021, and the relaxation of restrictions through implementing supportive guidelines, such as the Centers for Disease Control and Prevention's guidance for traveling amusement parks and carnivals, have helped the market rebound. As this trend is expected to continue the regional market is also estimated to expand during the forecast period.
The amusement park market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Amusement Park Market Scope |
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Report Coverage |
Details |
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Page number |
163 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.66% |
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Market growth 2023-2027 |
USD 12,070.27 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.47 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 50% |
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Key countries |
US, China, Japan, France, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ardent Leisure Group Ltd., Aspro Parks SA, CEDAR FAIR LP, Comcast Corp., Compagnie des Alpes, Corparques, Efteling BV, Europa Park GmbH and Co Mack KG, Herschend Family Entertainment Corp., Hershey Entertainment and Resorts Co., JB World Entretenimentos SA, Merlin Entertainments Group Ltd., PARQUES REUNIDOS SERVICIOS CENTRALES SA, Premier Parks, Samsung C and T Corp., SeaWorld Entertainment Inc., Shenzhen Huaqiang Holdings, Six Flags Entertainment Corp., The Walt Disney Co., and Village Roadshow Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Variant
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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