12th September 2019: An amusement park is an adventurous place that features numerous attractions, such as games, rides, shows, exhibits, etc. along with other events for entertainment. There are various theme parks that are a type of amusement park having various attractions and structures revolving around a central or unifying theme. There also could be numerous areas within one theme park with diverse themes.
Mechanical Rides Segment Estimated to Account for the Largest Share in 2017
The major rides variants in the amusement parks market include water rides, mechanical rides, and other rides (snow rides and flat rides). The mechanical rides sector accounted for the major share in the market in 2017 and is estimated to record the highest CAGR throughout the forthcoming period.
Depending on the weather conditions in the particular region, water rides are operated only during the specific time of the year. For example, in European countries, water rides are mainly closed during the winter season. Furthermore, parks that are open throughout the year, offer numerous extra services, such as accommodation, dining facilities, golf courses, souvenir stores, and other recreational/ entertainment activities.
Market insights
Increasing technological advancements to withstand competition along with establishment of numerous types of accommodation services are anticipated to fuel amusement parks growth in the forecast period.
For example, in September 2016, Ardent Leisure Group introduced its New-Look Tiger Land Park in its Dreamworld theme park to create job opportunities and attract more visitors to boost local economy.
In August 2017, Efteling, a theme park, invested USD 35.0 million, to establish an indoor attraction known as Symbolica: Palace of Fantasy. To expand its theme-based offerings the park took an initiative to uphold its position in the European market.
Key companies operating in the amusement parks market include Walt Disney Company, Cedar Fair Entertainment Company, Chime long Group Co., and Comcast Corporation.
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