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Amusement Parks Market Boosts Infrastructure Investments and Job Creation, Finds Maximize Market Research
The research methodology utilized in analysing the Amusement Parks market encompasses a thorough approach that combines primary data which is often collected through surveys, interviews, and focus groups with industry experts and stakeholders such as owners and operators, investors and financiers government authorities, and industry associations. This allows for firsthand insights into market trends, consumer behaviour, and regulatory challenges and secondary research utilizing reports from government sources, industry publications, and financial statements. Market sizing and forecasting techniques are employed alongside competitive analysis to provide valuable insights into the market landscape. It also includes technological integration, environmental sustainability regulatory compliance financial performance customer experience and emerging trends which makes it an investor's guide. The report encompasses Rides, Age, Revenue segments and their analysis, which elucidates their influence on the market. The estimation methodology often adopts a bottom-up approach to accurately determine market sizes.
The Amusement Parks Market includes the presence of several global as well as regional key players. A few prominent players that offer Amusement Parks in the market are Cedar Fair Entertainment Company, The Walt Disney Company, Merlin Entertainments, SeaWorld Parks & Entertainment, Disney Parks and Resorts, Universal Studios Theme parks, Six Flags Entertainment Corporation, OTC Parks China, Shanghai Disneyland, Tokyo Disneyland, Hong Kong Disneyland and others.
Amusement Parks Market is expected to reach US$ 109.80Bn . by 2030. A park with numerous entertainment-related attractions, including rides, games, and other activities, is known as an amusement park. A theme park is a particular kind of amusement park that centres its buildings and attractions on a main subject and frequently has many regions with various themes. Amusement parks are stable structures designed for continuous operation, as opposed to transient and mobile funfairs and carnivals. They offer attractions that often cater to a range of age groups and are more extensive than city parks and playgrounds.
The amusement park market, much like many other industries, experienced significant disruptions due to the COVID-19 pandemic. Restrictions varied widely from country to country, with China taking some of the toughest measures. As a major player in the market, China's stringent lockouts have had a ripple effect on amusement parks across the region, causing attendance to drop to 55% of 2019 levels. But China's OCT chain stood out by recovering 97% of its pre-pandemic arrivals, largely thanks to the acquisition of nine new properties and an aggressive downsizing strategy. Despite these challenges, the theatre market in Asia shows strong investment and is seeing the onset of consolidation as the industry matures. Once Chinese tourism is freed from government restrictions, the entire industry is expected to grow exponentially. But the business has struggled with persistent labor shortages, especially in filling starting seasonal positions. Parks responded with a variety of strategies, including changes to work structures, higher hiring bonuses, and downsizing. Globally, economic conditions remain stressful, with rising commodity prices and inflation posing risks to the industry's near-term future. Nevertheless, the industry has historically shown resilience to economic cycles and is expected to continue to do so.
In Europe , many parks resumed operations in the summer of 2021, with some, such as Merlin, recording surpluses for 2019. Notable mentions include Europa-Park and Efteling, both of which attract 3 million visitors, rivaling Disneyland Paris, which had the highest attendance in Europe with 3.5 million visitors. Demand in the continent is strong and significant investments are planned in the coming years, which means that 2024 and 2025 will be strong years for the market.
The Middle East has also recovered rapidly, especially in the UAE, thanks to effective advocacy campaigns and tourist destinations. Expo 2020 Dubai was an important attraction in late 2021, showcasing the tourism potential of the region and helping to increase attendance at local parks. In the U.S. the demand identification and decreased concerns about COVID-19 outperformed other regions in the summer of 2021. Water parks in North America in particular have grown significantly since 2020, approaching 2019 attendance. Orlando, Florida , home to many top executives, has welcomed tourists back as COVID-19 precautions are taken and international travel is curtailed. The region has demonstrated resilience, as evidenced by how quickly it reopened after events such as Hurricane Ian.
Major operators are moving forward with a planned economy, which predicted a strong year in 2022. Developing guest expectations in response to new attractions and enhanced experiences will be critical in 2024 and beyond. The increasing popularity of immersive experiences and luxury offerings continues to shape the market, and parks seek additional revenue from unique experiences.
The travel industry, which is a key player in the theatre market, has also rebounded, with airlines working through staffing challenges to meet growing demand. This convenient return itinerary is positive for attractions and leisure markets. The stadium project, resilient as ever, managed to weather the worst effects of the pandemic and is now poised to recover, and continue its mission of bringing joy, happiness and hope to visitors on.
In conclusion, the demand for Amusement Parks is constantly increasing worldwide driven by factors such as ongoing development in IoT infrastructure, and Increased adoption of blockchain technology for ticketing. The Maximize Market Research report captures these trends in detail across various regions. It provides a comprehensive analysis of market trends, consumer preferences and competitive landscape in each category. This comprehensive perspective provides stakeholders with valuable information to navigate opportunities and challenges, and ensures strategic decisions for sustainable growth in the global Amusement Parks market.
MMR has segmented the market based on
Based on the Rides, the market is segmented into Mechanical Rides, Water Rides, and Other Rides. Mechanical Rides segment is expected to hold the largest market share of xx% by 2030. It's because more people are going to the theme parks and enjoying the tough roller coasters, huge rides, and 4D experiences. The market for mechanical rides in amusement parks is rising as a result of an emerging middle class, rising household expenditure on outdoor activities, and the opening of new theme parks by foreign players.
Water Rides segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2024-2030. According to local weather patterns, water rides are ones that are only available at certain times of the year. For instance, during the winter months in Europe , the majority of water rides are closed. Additionally, parks that are open all year round provide a variety of extra amenities, including dining establishments, lodging, gift shops, golf courses, and other leisure activities.
The North American region is expected to dominate the Amusement Parks Market during the forecast period 2024-2030. The North American region is expected to hold the largest market share of xx% by 2030. This is because the regional park team has offered a year-round full schedule of events, including festivals and shows. From modest, independent parks to industry heavyweights like Universal Studios and the Disney resorts. The majority of amusement parks in the U.S. and Canada are dedicated to providing thrill-seekers with excitement with jaw-dropping thrill rides, Frisbee rides, a motion-simulating Spider-Man ride, and dizzying roller coasters. The top theme parks in North America for families include Kings Dominion, Canada's Wonderland, Hersheypark, LEGOLAND Florida Resort, and Disney World.
size was valued at US$ 6.99 Bn in 2023 and the total revenue is expected to grow at 18.3% through 2024 to 2030, reaching nearly US$ 22.67 Bn .
value is projected to reach US$ 66.90 Bn at the end of the forecast period and it is expected to grow at the CAGR of 24.3%.
was valued at USD 497.85 Bn in 2023 and is expected to reach USD 921.84 Bn by 2030, at a CAGR of 9.2 % during the forecast period.
was valued at USD 22472.60 Mn in 2023 and is expected to reach USD 51894.44 Mn by 2030, at a CAGR of 12.7 %.
Size was valued at USD 465.02 Bn . in 2023 and the Adventure Tourism Market is expected to grow by 27.3% from 2024 to 2030, reaching nearly USD 2519.28 Bn .
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems.
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