New York, United States, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The Global Amusement Parks Market Size is to Grow from USD 51.46 Billion in 2022 to USD 82.73 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.8% during the projected period.
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The global amusement parks market is a large industry dedicated to providing visitors with entertainment, leisure, and recreational experiences via a variety of attractions, rides, shows, and themed environments. These parks are designed to appeal to people of all ages, including families, thrill seekers, and tourists. They usually develop immersive surroundings based on certain themes such as fantasy realms, historical periods, or popular movie franchises to enhance the visitor's experience. Because of increased disposable incomes, more leisure time, and a thriving global tourism industry, this market has developed tremendously over the years. Traditional rides and attractions have given place to cutting-edge technologies like virtual reality, augmented reality, and interactive components that engage guests in innovative and compelling ways. Furthermore, the incorporation of themed products, food options, and housing on park grounds has contributed to the market's growth. The increased popularity and excitement of amusement parks among children and the younger generation has resulted in an increase in their construction. This aspect is projected to fuel market expansion throughout the forecasted period. However, one of the obstacles to market expansion is the high installation costs associated with developing amusement parks. Maintenance costs add to the entire cost of theme parks, hindering industry expansion.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Amusement Parks Market Size, Share, and COVID-19 Impact Analysis, By Type (Theme Parks, Water Parks, Amusement Arcades), By Rides (Mechanical Rides, Water Rides, Others), By Gender (Male, Female), By Age Group (Up To 18 Years, 19-35 Years, 36 To 50 Years, 51 To 65 Years, More Than 65 Years), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The theme parks accounted for the largest market share in 2022.
The global amusement park market is divided into three categories: theme parks, water parks, and amusement arcades. Theme parks captured the greatest market share among these in 2022. Theme parks are enormous entertainment complexes that offer a range of attractions, rides, performances, and themed sections to guests of all ages.
The mechanical rides segment is expected to grow at the fastest pace in the global amusement parks market during the forecast period.
The global amusement park market is segmented into mechanical rides, water rides, and others based on the rides. Mechanical rides are predicted to develop at the highest rate in the global amusement park market over the forecast period. These rides provide a variety of experiences, ranging from gentle and family-friendly to exhilarating and adrenaline-pumping. Mechanical rides include roller coasters, spinning rides, swinging pendulum rides, and spinning teacups.
The male segment is expected to account for the highest market share over the forecast share.
The global amusement park market is divided into male and female segments based on gender. The male segment is projected to account for the largest market share throughout the forecast share. Male visitors who are part of the target demographic for amusement park attractions and experiences are referred to as the male segment of the global amusement park market.
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North America is anticipated to hold the largest share of the global amusement parks market over the predicted timeframe.
North America is expected to have the biggest portion of the global amusement park market in the coming years. The amusement park industry in North America is mature, with a diverse range of attractions ranging from Disney and Universal Studios resorts to regional parks like Cedar Point. The region's strong economy, large population, and well-developed infrastructure all contribute to the region's significant share of the global amusement park market.
During the projected period, Europe is projected to expand at the highest rate in the global amusement park market. In Europe, amusement parks and entertainment have a long history. Disneyland Paris, Europa-Park, and Alton Towers are popular theme parks in the United Kingdom, France, Germany, and Spain.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Amusement Parks Market include Ardent Leisure, The Walt Disney Company, Cedar Fair Entertainment Company, SeaWorld Parks & Entertainment, Inc., Six Flags Entertainment Corporation, Merlin Entertainments, Fantawild, IMG Worlds of Adventure, Disney Parks, Experiences and Products, Universal Theme Parks, Six Flags, Shanghai Disneyland Park, Tokyo Disneyland, Comcast, and Others.
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Recent Developments
- In October 2021, Merlin Entertainments, one of the the globe's largest attraction operators, is collaborating with eSight, a leading vision-enhancement platform. Individuals with vision impairment will benefit from a variety of life-changing experiences provided by the companies working together. eSight and Merlin will collaborate to develop more inclusive initiatives for future guests who have low vision or are legally blind.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Amusement Parks Market based on the below-mentioned segments:
Global Amusement Parks Market, By Type
- Theme Parks
- Water Parks
- Amusement Arcades
Global Amusement Parks Market, By Rides
- Mechanical Rides
- Water Rides
- Others
Global Amusement Parks Market, By Gender
- Male
- Female
Global Amusement Parks Market, By Age Group
- Up To 18 Years
- 19-35 Years
- 36 To 50 Years
- 51 To 65 Years
- More Than 65 Years
Global Amusement Parks Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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