Amusement Parks Industry Outlook Drivers The Rise in the Disposable Income of People Especially in the Emerging Economies

HYDERABAD, TELANGANA, INDIA, January 11, 2023/EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Amusement Parks Market size is set to grow at a CAGR of 6.2% during 2020-2025, projected to reach $72.44 billion by 2025. Amusement parks play a vital role in the global entertainment and leisure industry. These recreational facilities offer a wide variety of entertainment options and act as a one-stop-shop leisure and entertainment solution which flourishes as a key tourist attraction source for revenue generation. Therefore, it is majorly driven by the rising headcount of retired baby boomers, who are devoted to recreation and leisure spending. Additionally, the growing international tourism has been representing a lucrative consumer cluster for theme parks and marine parks. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Amusement-Parks-Market-Research-503910

Key takeaways:

1. North America dominates the global amusement parks market share owing to increasing demand from all age groups especially for family-friendly fairground rides and high-adrenaline coasters.

2. The rise in the disposable income coupled with government support in promoting tourism and entertainment is likely to aid in the market growth of regional parks.

3. Increasing adoption of technology advancements in hydraulics, pneumatics, and animatronics, to provide Hitech-thrills via entertainment rides such as frisbee rides and motion simulator rides set to drive the growth of the theme parks industry, thereby increase the market demand for amusement parks in the near future.

4. Increasing demand for amusement parks has been replicating in the form of new park establishment in European countries will boost the Europe amusement parks market.

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Segmental Analysis:

1. The mechanical rides segment held the largest share in the amusement parks market size as of 2018. It is due to the rise in the number of visitors and rides enthusiasts for 4D rides, giant rides and challenging roller coasters.

2. 36-50 age group accounts for the primary market for amusement parks for many years. This is because, they carry their children along with them to get entertain.

3. North America dominated the global amusement parks market share, accounts for more than 40%, followed by APAC and Europe. It is due to the offers provided by the regional park team in terms of the full program of shows and festivals all through the year.

Competitive Landscape:

The top 5 players in the Amusement Parks industry are -

1. Walt Disney Company

2. Ardent Leisure Group

3. Six Flag Entertainment Corporation

4. Cedar Fair Entertainment Company

5. Merlin Entertainments

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