Amusement Parks Market size was over USD 65.1 billion in 2023 and is expected to reach USD 125.2 billion by the end of 2036, witnessing around 7.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of amusement parks is assessed at USD 70.1 billion.
The global tourism has risen in recent years, which is expected to significantly boost the amusement parks market. According to the World Travel & Tourism Council (WTTC), travel and tourism will have a record-breaking year in 2024 and will contribute a staggering USD 11.1 trillion to global GDP. The increasing consumer demand for unique and immersive experiences has fueled due to the need for novel entertainment options and the influence of social media. Additionally, investments in advanced technologies, such as virtual reality (VR) and interactive rides, and efforts to create themed environments also contribute to amusement parks market growth.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
7.2% |
|
Base Year Market Size (2023) |
USD 65.1 billion |
|
Forecast Year Market Size (2036) |
USD 125.2 billion |
|
Regional Scope |
|
Rides (Mechanical, Water)
Mechanical segment is poised to hold amusement parks market share of over 84.3% by the end of 2036. Mechanical rides segment drives market growth by offering innovative, thrilling, and unique experiences that attract a wide range of visitors, enhance park competitiveness, and contribute significantly to revenue generation. Innovations such as magnetic launch systems, immersive VR integrations, and high-speed coasters attract thrill-seekers and drive park attendance.
Moreover, modern safety systems, including sophisticated restraint mechanisms and real-time monitoring adhering to industry safety rules, build trust and ensure safe experiences, contributing to higher visitor numbers. For instance, throughout North America, approximately 370 million people enjoy 1.7 billion rides at 400 amusement parks annually. Fortunately, the International Association of Amusement Parks and Attractions (IAAPA) places a high focus on enforcing industry safety rules; only one in every 18 million individuals who ride these rides at a U.S. amusement parks is at risk of a major injury.
Age (Up to 18 years, 19 to 35 years, 36 to 50 years, 51 to 65 years, More than 65 years)
In amusement parks market, 19 to 35 years segment is expected to account for revenue share of around 32.9% by 2036. The individuals in this age range often seek out thrilling, high-intensity rides and unique experiences. They frequently engage in social activities with friends or peers. Amusement parks are popular destinations for group outings, social events, and celebrations. Moreover, this age group is highly active on social media platforms, where they share experiences and seek recommendations. As per 2023 estimates, 48.8% and 26.1% theme park visitors belong to age groups 18-24 years and 25-34 years in the United States.
Revenue Source (Ticket, Food & beverage, Merchandise, Hotels/Resorts)
The ticket segment in amusement parks market is estimated to garner a significant revenue share. The strategic ticketing practices, including dynamic pricing, season passes, special events, and online sales, are essential for maximizing revenue and driving growth in the market. Moreover, parks often collaborate with travel agencies and tour operators to create packages that include park tickets. These packages can attract international visitors and boost ticket sales.
Our in-depth analysis of the global amusement parks market includes the following segments:
|
Age |
|
|
Revenue Source |
|
|
Rides |
|
|
Park Type |
|
North America Market Statistics
North America amusement parks market is set to account for revenue share of around 42.1% by 2036. The industry's expansion is largely driven by the huge presence of amusement parks and the increasing number of visitors. Over 140 million people visited the top 20 theme parks in North America in 2022. Additionally, it is predicted that more than 435 million individuals will visit theme parks and attractions in North America in 2025.
In the U.S. staycations have grown in popularity over the past year, which has increased the attendance at nearby fairs and amusement parks. People's time constraints have led to a rise in the popularity of unplanned leisure getaways in their cities, without any anxiety and trouble of traveling.
Over the last two decades, people in Canada have, on average, committed 5% of their yearly household budget to cultural and recreational pursuits, which has led to the expansion of theme parks. Moreover, Wonderland in Canada with over 200 attractions, including a 20-acre water park named Splash Works, play areas, and 18 coasters has gained significant acclaim as one of the world's best theme parks to visit in 2023.
APAC Market Analysis
The amusement parks market expansion in Asia Pacific has been experiencing robust growth, driven by increasing disposable incomes and urbanization. According to the World Bank, with an average yearly urbanization rate of 3%, East Asia and the Pacific are the regions that are urbanizing the fastest in the world. Subsequently, an increasing number of people are looking for leisure options near home, which is likely to create a huge demand for accessible, secure, and pleasurable public spaces including amusement parks. In addition, recent years have seen a rise in the popularity of theme parks led by the growing demand for family-friendly entertainment alternatives outside of homes.
China's amusement parks are hoping for rapid expansion in response to the growing demand for thrilling rides and interesting travel experiences. Theme Park visits are becoming a common urban leisure activity in China, as the country is home to some of the world's best theme parks, such as Shanghai Disneyland and Hengqin's Chimelong Ocean Kingdom.
Japan has several theme parks and amusement parks, which are popular with tourists of all ages due to their inventive rides, lodging possibilities, and retail selections. In December 2023, the sales of amusement parks and theme parks in Japan amounted to approximately USD 596.4 million.
The amusement parks market in South Korea is characterized by a mix of established and emerging key players, with significant opportunities for growth driven by economic developments, tourism, and evolving consumer preferences. Known for its family-oriented attractions and seasonal events, Seoul Land offers a variety of rides and theme areas, catering to all age groups.
The key players in the amusement parks market range from major park operators and technology providers to infrastructure firms and marketing agencies. Each plays a vital role in shaping the industry. Their contributions drive innovation, enhance guest experiences, and ensure the continued growth and success of the market.
Author Credits: Saima Khursheed
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?