Global Amusement Parks Market 2023-2030

Global Amusement Parks Market 2023-2030

Global Amusement Parks Market Size, Share & Trends Analysis Report by Type (Theme Park, Water Park, and Amusement Arcades), by Ride (Land Rides, Water Rides, and Others), and by Source of Revenue (Hotels/ Resorts, Tickets, Food & beverages, Merchandise, and Others) Forecast Period (2022-2030)

The global amusement parks market is anticipated to grow at a considerable CAGR of 4.2% during the forecast period. The growing tourism sector along with the development of new amusement parks are key factors driving the growth of the global amusement parks market. For instance, in May 2023, Saudi Arabia announced the development of 24 theme parks, 420 entertainment centers, and the creation of 35 entertainment-based venues. The kingdom expects to attract over 100 million visitors annually by 2030, with combined efforts by the tourism, private, and public sectors. Additionally, according to the government authorities, licenses for 24 theme parks and over 420 entertainment centers have been issued in line with Saudi Arabia’s Vision 2030.

However, the high installation costs associated with building amusement parks is one of the major factor that may restrain the growth of the market globally. In May 2023, a four-year-old girl died from suffocation while playing inside an inflatable bouncy castle as supervising staff members were allegedly distracted by their mobile phones. Such tragic incidents may act as a challenge to the market growth.

Segmental Outlook

The global amusement parks market is segmented based on type and source of revenue. Based on type, the market is segmented into land ride, water ride, and other. Based on source of revenue, the market is sub-segmented into tickets, food and beverages, merchandise, hospitality, and others.

Land Rides Segment Holds a Prominent Market Share in the Global Amusement Parks Market

The land rides segment held largest share in amusement parks market in 2022. The high interest of visitors in enjoying the tough roller coasters, huge rides, and 4D experiences has contributed to the high share of this market segment. The emerging middle class interest, rising household expenditure on outdoor activities, and the opening of new theme parks by foreign players has further contributed to the growth of this market segment. However, water rides segment is anticipated to grow significantly during the forecast period.

Regional Outlooks

The global amusement parks market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these, the Asia-Pacific market is anticipated to cater to a considerable growth over the forecast period. The growing investment in the emerging economies such as India and China for the development of new amusement and theme parks across the region is a key factor driving the regional growth. For instance, in January 2023, Wonderla Holidays Ltd. is in talks with the Madhya Pradesh (MP) Government to set up an amusement park in the state.

Further, in March 2023, tourism department of Bengaluru planned to develop water sports destinations and amusement park near Bengaluru. The plan includes a Disney World kind of theme park somewhere around Bengaluru or Mysuru. Such developments are projected to drive the regional market growth.

Global Amusement Parks Market Growth, by Region 2023-2030

Source: OMR Analysis

The North America Region held Considerable Share in the Global Amusement parks Market

North America held a considerable share in the global amusement parks market. In North America, the US held a major market share. The increasing adoption of the technological advancements in the form of augmented and virtual reality is a key factor driving the regional market growth. Advancements in land and water rides have further contributed to the regional market growth. The US market is relatively fragmented with around 20.0% shares held by the top five companies that include Disney Parks and Resorts, Six Flags, Universal Parks and Resorts, Cedar Fair and SeaWorld. The competition within the industry has increased with the introduction of AR & VR gaming centers, live concerts and movie theatres that require comparatively less time and ensure a great experience.

The technological opportunities in the industry have allowed a number of startups and small players to enter and establish themselves at a relatively lower cost in the industry. The big players such as Disney, Universal and Six Flags are undergoing mergers and acquisitions ensuring impactful expansion as well as creating a higher ticket pricing opportunity. Recently, UFC collaborated with ESPN (a Disney owned Company) for a 5-year distribution deal which resulted in an increase in 525,000 subscribers on the very first telecast.

Market Players Outlook

The major companies serving the global amusement parks market include Cedar Fair Entertainment Company, SeaWorld Parks & Entertainment, Six Flags Entertainment Corp, The Walt Disney Company, and Ardent Leisure among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global amusement parks market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.