NEW YORK, May 12, 2021 /PRNewswire/ — The global amusement park market by type (tickets, hospitality, merchandising, and others) and geography (North America, APAC, Europe, South America, and MEA) has been added to Technavio’s offering. The global amusement park market is expected to grow by USD 3.28 billion, at a CAGR of almost 3% during 2021-2025.
The steady rise in COVID-19 cases in 2020 resulted in the shutdown of various commercial spaces and parks. The pandemic also reduced the number of tourist footfalls, which negatively impacted the market growth. However, the market is expected to recover in 2021 as many countries across the region have started rolling out vaccines, which is resulting in a decline in the number of COVID-19. This is expected to result in an increased footfall in amusement parks, thereby fueling the market growth.
The market is expected to be driven by factors such as the rise in the number of baby-boomer visitors, investments in high-thrill roller coasters, and growing innovation and creativity in amusement parks.
The report also offers information on the upcoming trends and challenges that will influence market growth.
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Amusement Park Market: Opportunities
Factors such as the rising base of the middle-class population, increasing disposable income, changing lifestyle, cultural shift, and increasing emphasis on work-life balance have increased consumer interest toward leisure activities. In addition, the growth of the global tourism industry and the rising popularity of live shows are attracting a large number of national and international tourists to amusement parks. Moreover, increasing investments in the entertainment industry and the need to renovate existing amusement parks are expected to create several growth opportunities for market vendors during the forecast period.
Amusement Park Market: Segmentation by Type
Based on the segmentation by type, the market generated maximum revenue in the tickets segment in 2020. The segment is driven by the increasing investments by vendors in the incorporation of digital mediums. The market growth in the segment will be significant during the forecast period.
Amusement Park Market: Segmentation by Geography
North America held the largest market share in 2020 and the market growth in the region is expected to be slower compared to the growth of the market in APAC. The growth of the market in North America can be attributed to the increasing number of international and local visitors in the region and the rising spending ability of customers. Also, improvements in the US economy and the increased instances of traveling are contributing to the growth of the amusement park market in North America.
One of the fortune 500 companies had used the detailed research report on the amusement park market and had decided to increase their market share in the North American region which offers the highest market opportunities during the forecast period.
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Amusement Park Market: Major Vendors
ASPRO PARKS SL
The company offers water parks, family attraction parks, marine parks, Aquariums, and Others.
Merlin Entertainments Group Ltd.
The company offers a variety of theme parks for children of ages between 3 – 12 like LEGO and DUPLO, and theme parks like Alton Towers resort and gardaland resort, heige park resort, and others.
PARQUES REUNIDOS SERVICIOS CENTRALES SA
The company’s key offerings include movie park, warner madrid park, madrid amusement park, slagharen, and others.
SeaWorld Entertainment Inc.
The company’s key offerings are sea world orlando, discovery cove, busch gardens, seaworld sandiego, and others.
Six Flags Entertainment Corp.
The company offers a variety of rides like Anaconda, bahama blaster, big kahuna, adventure river, and others.
Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the amusement park market report:
- Further breakdown of the market segmentation at requested regions.
Market Player Information
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
- Know the strategies adopted by vendors during the COVID-19 Recovery Phase.
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Tickets – Market size and forecast 2020-2025
- Hospitality – Market size and forecast 2020-2025
- Merchandising – Market size and forecast 2020-2025
- Others – Market size and forecast 2020-2025
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2020-2025
- APAC – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ASPRO PARKS SL
- CEDAR FAIR L.P.
- Comcast Corp.
- Compagnie des Alpes
- Merlin Entertainments Group Ltd.
- PARQUES REUNIDOS SERVICIOS CENTRALES SA
- SeaWorld Entertainment Inc.
- Six Flags Entertainment Corp.
- The Walt Disney Co.
- Village Roadshow Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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