Dublin, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The "Global Amusement Parks Market by Type (Amusement Arcades, Theme Parks, Water Parks), Revenue Source (Food & Beverage, Hospitality, Merchandizing), Age Limit - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Amusement Parks Market grew from USD 50.97 billion in 2023 to USD 54.08 billion in 2024. It is expected to continue growing at a CAGR of 7.41%, reaching USD 84.08 billion by 2030. 
Amusement parks play a significant role in the broader entertainment industry, often as major tourist attractions. Their unique combination of rides, shows, food, and merchandise has become crucial to leisure culture. Meanwhile, the increasing participation in recreational and outdoor activities has impacted the development of amusement parks. In addition, the favorable regulations associated with the safety concerns in amusement parks have also boosted the growth of amusement parks.
However, the high cost associated with the maintenance and excess energy consumption is a significant challenge for the industry players. Companies are continuously working towards cutting costs and diversely adopting alternative energy sources to remain agile within the ever-evolving industry landscape.
Moreover, integrating advanced technologies such as augmented reality (AR) and virtual reality (VR) has created future opportunities for the key players. In addition, the adoption of renewable energy infrastructure worldwide has also contributed to the evolving amusement park industry.
Regional Insights
In America, countries including the United States and Canada are major economies in the amusement park industry with a strong legacy of iconic parks such as Disneyland and Universal Studios. Additionally, in America, a substantial chunk of the customer base seeking diverse and immersive entertainment experiences has also witnessed a significant need for amusement parks. The trend of transforming popular films and television shows into theme park attractions has been fetching massive investments in this region.
Similarly, the amusement park industry in Europe is characterized by European countries' rich history and storytelling culture, offering a unique blend of classic fairy tale settings and futuristic attractions. Moreover, the increasing investments in tourism and entertainment industry also contribute to the expansion of amusement parks. The Middle East and Africa region represents an untapped market with enormous potential leaning towards integrating local cultural themes with the mainstream amusement park model.
Furthermore, the Asia Pacific features a diverse customer palette, with parks in China, Japan, and India catering to the varied needs of consumers. Major economies such as China back its amusement park industry with aggressive investment policies, promoting indigenous parks such as Shanghai Disneyland.
At the same time, in Japan, the intersection of technology and animation within amusement parks presents unique offerings. India's burgeoning middle class presents an untapped customer base pushing recent initiatives towards park infrastructure development. With the right blend of creativity, innovation, and alignment to regional preferences and needs, the industry can expect to see new heights of success across these regions.
Recent Developments
Tamil Nadu Planning a Disney-like 100-acre Amusement Park Outside Chennai
Tamil Nadu's new tourism policy highlights twelve priority segments, including Adventure Tourism, Recreation Tourism, and Film Tourism. As part of this initiative, there are plans to develop a large-format 100-acre theme park on the outskirts of Chennai, with private sector involvement, similar to renowned global theme parks such as Disney and Universal Studios. Additionally, efforts will be made to collaborate with golf courses in hilly regions for the development of tourist accommodation facilities, further enhancing recreation tourism.
Six Flags to Accelerate Digital Transformation in the Amusement Park Industry and Launch a Cutting-Edge Virtual Assistant Powered by Google Cloud's Generative AI
Six Flags Entertainment Corporation joined forces with Google Cloud to expedite its digital transformation. As part of this collaboration, Six Flags is expected to introduce a virtual assistant powered by generative AI provided by Google Cloud. This strategic partnership aims to enhance visitor experiences and optimize business operations across all Six Flags parks. Leveraging the advanced technology offered by Google Cloud, Six Flags would be able to deliver improved operations, personalized services, and enhanced customer experiences throughout their park portfolio.
Enormous 'Amusement Park' Costing USD 2 Billion Announced in Oklahoma to Boost Tourism in the United States
The American Heartland Theme Park & Resort, a USD 2 billion project set to launch in 2026 in Oklahoma in the U.S. With an estimated annual attendance of 4.9 million guests, this amusement park is expected to be a major attraction. The park would offer a wide array of rides, shows, attractions, waterways, and restaurants. The resort, situated on Route 66 in northeast Oklahoma, will span across 1,000 acres, featuring a 300-room hotel, an indoor water park, a 320-acre RV park, and a 300-cabin campground.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $54.08 Billion |
| Forecasted Market Value (USD) by 2030 | $84.08 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
Market Dynamics
Market Segmentation Analysis
- Type: Increasing popularity of gaming arcades and water parks tends to meet
- Revenue Source: Establishment of food & beverages and merchandise retailers in the amusement industry caters to better revenue growth
- Age Limit: Widening amusement parks in various age groups to meet thrill and adventures
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Market Drivers
- Rising Participation in Recreational Activities and Increasing Amusement Parks Visits
- Rapid Growth in the Construction of Theme-Based Parks
- Safety Regulations for Amusement Parks
Market Restraints
- High Input Cost for Installation and Maintenance
Market Opportunities
- Integration of Advanced Technologies in Amusement Parks and Social Media Influence
- Renewable Energy Infrastructure Deployment on Demand
Market Challenges
- High Energy Consumption and Environmental Impacts
Key Company Profiles
- Ardent Leisure Group Limited
- Aspro Parks, S.A.
- CEDAR FAIR, L.P.
- Columbia Pictures Location Based Entertainment Inc.
- Comcast Corporation
- Compagnie des Alpes
- Efteling B.V.
- Europa-Park GmbH & Co Mack KG
- Fantawild Holdings Inc.
- Fuji-Q Highland Co., Ltd.
- Herschend Family Entertainment Corporation
- Hershey Entertainment & Resorts Company
- Imagicaaworld Entertainment Ltd.
- Knoebels Amusement Resort
- Merlin Entertainments Limited
- Oriental Land Co.,Ltd.
- Parques Reunidos Servicios Centrales, S.A.
- PortAventura
- Schlitterbahn
- SeaWorld Entertainment, Inc.
- Six Flags Entertainment Corporation
- The Hettema Group
- The Walt Disney Company
- Toverland B.V. by Gelissen Group
- Universal Studios
- Village Roadshow Limited
- Wonderla Holidays Ltd.
Market Segmentation & Coverage
Type
- Amusement Arcades
Theme Parks
- Eco Theme Parks
- Historical Theme Parks
- Pop Culture Theme Parks
- Regional Theme Parks
- Zoological Theme Parks
- Water Parks
Revenue Source
- Food & Beverage
- Hospitality
- Merchandizing
- Tickets
Age Limit
- 19 to 35 Years
- 36 to 50 Years
- 51 to 65 Years
- More than 65 Years
- Up to 18 Years
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
For more information about this report visit https://www.researchandmarkets.com/r/ngxo81
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