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The freestanding playground equipment market size is estimated to grow at a CAGR of 4.03% between 2022 and 2027. The market size is forecast to increase by USD 2,189.63 million. The growth of the market depends on several factors, including the growing urbanization rate, the rise in the number of baby boomer visitors to amusement parks, and the benefits associated with outdoor sports.
This freestanding playground equipment market report extensively covers market segmentation by application (parks and amusement parks, communities, schools, and others), product (slides, swings, climbers, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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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 growing urbanization rate is driving growth in a freestanding playground equipment market. Rapid urbanization is leading to a shift in the world's population from rural regions to cities and suburbs. Rapid urbanization has also led to increased demand for children's products due to the fact that people are able to afford more good goods in a number of emerging countries, such as Brazil, China, and India. One of the key reasons for this is that rapid urbanization has also led to a greater number of working women and dual-income households. This is because urbanization leads to an increase in income level and subsequent changes in lifestyles like the rise in demand for expensive outdoor recreational sports equipment, including freestanding playground equipment.
Moreover, it will facilitate the availability of higher quality products and internationally recognized brands as a result of exposure to organized retailing at urban locations. The next most important investment destination for any of the main global market players is likely to be demand patterns in childcare products. Such developments are expected to drive the global freestanding playground equipment market during the forecast period.
The increase in the number of preschools is a primary trend in a freestanding playground equipment market. During key growth periods, preschool plays a crucial role in developing children's development. The increase in the number of parents who send their children to such places is due to rapidly developing early learning centers and kindergartens with high-quality facilities. At these places, children learn to interact with other children and learn to accept children with different characteristics at an early age.
Moreover, the learning-while-playing strategy is ideal for developing the intelligence quotient of a child and for imbibing good habits. The number of preschools worldwide has increased by a tremendous amount in the last ten years due to rising demand from parents. It is not just the developed countries that have experienced this growth, but emerging economies as well. This growth in the number of preschools is playing a significant role in the global freestanding playground equipment market during the forecast period, as most of these schools have play areas designated for children.
The growing adoption of online games is a major challenge faced by the freestanding playground equipment market challenge. Globally, eGames are experiencing rapid growth, and it is anticipated that this trend will continue throughout the forecast period. Over the forecast period, Freestanding Playground Equipment's market growth is likely to be limited in particular by the popularity of online games. Computers and online games are taking the place of traditional outdoor gaming gear.
However, there is a growing market for digital games targeted at children. One of the main reasons for the growing popularity of gaming is that it entertains children on desktops, consoles, and mobile phones. Mobile gaming is also set to grow over the forecast period as more and more smartphones are being used. The global penetration of smartphones is expected to reach almost 60% by 2019, which is the highest compared to any other gaming platform. These are expected to pose a serious threat to the growth of the global freestanding playground equipment 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 Freestanding Playground Equipment 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.
BCI Burke Co. - The company offers freestanding playground equipment such as educational play, electronic play, swings, climbers, and slides.
The research 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 parks and amusement parks segment is estimated to witness significant growth during the forecast period. The major driving factors that are positively influencing the growth of this segment include the rise in international tourist spending. The tourism industry contributes to high revenue generation, which is used for infrastructure development in amusement parks.
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The parks and amusement park segment was the largest segment and was valued at USD 4,419.92 million in 2017. The demand for amusement parks will be driven by the rising number of baby boomers and children visiting them. Because amusement parks have a lot of expensive and thrilling rides, the growth of the parks and amusement parks market is likely to be driven by an increase in the number of such infant visitors. Due to rising tourism-related activities and expenditures, the Park and Amusement Parks category of the global freestanding playground equipment market is anticipated to expand at a faster rate during the forecast period.
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North America is estimated to contribute 35% 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. In terms of value, North America dominated the global market for freestanding playground equipment in 2022. Due to the presence of significant suppliers like Dynamo Industries and Playcore, North America generates the most revenue. The United States, Canada, and Mexico are the major contributors to the expansion of the North American market for freestanding playground equipment.
The freestanding playground equipment market was adversely affected in 2020 due to the outbreak of COVID-19. However, in 2021, the regional market recovered following the implementation of large-scale COVID-19 vaccination drives, the easing of lockdown measures, and a declining number of COVID-19 cases. Moreover, the rescheduling and organizing of various climbing events, such as the 2023 IFSC Climbing World Championships and USA Climbing, are expected to propel the growth of the market in the region during the forecast period.
The freestanding playground equipment market 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.
Freestanding Playground Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.03% |
Market growth 2023-2027 |
USD 2,189.63 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.59 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Japan, Germany, and the UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
BCI Burke Co., BuildIndia, Childforms, Dynamo Industries Inc., E. Beckmann e.K., European Leisure Industries BV, FUN PLAY SYSTEMS Pvt. Ltd., Funriders, HENDERSON RECREATION EQUIPMENT Ltd., Kaiqi Group Co. Ltd., Kidstuff Playsystems, KOMPAN AS, Landscape Structures Inc., PlayCore Inc., Playmart Inc., Playpower Inc., Pro Playgrounds, Sportsplay Equipment Inc., Treadwall Fitness, and VINEX Enterprises Pvt. Ltd. |
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. |
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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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