Amusement Equipment Market Highlights

The global amusement equipment market was estimated at USD 35.43 billion in 2023, which is expected to reach USD 64.56 billion at a CAGR of 5.63% during 2024-2034.

Amusement Equipment Market CAGR

2024-2034

CAGR OF

5.63%

Amusement Equipment Market

Amusement Equipment refers to the broad range of devices, structures, and attractions used in amusement parks, carnivals, and theme parks, for entertainment, enjoyable, and thrilling experiences. Some common types of amusement equipment include Roller Coasters, Ferris Wheels, Carousel Rides, Water Rides, Thrill Rides, Arcade Games, etc. There is a wide range of such equipment that is being developed with technological advancements following visitor preferences.
The amusement equipment market has many key growth drivers that are contributing to its expansion. Factors like urbanization and population growth, mainly in emerging economies is leading to growth in the market. As cities expand there is a greater demand for entertainment centers and recreational venues driving the demand for amusement equipment.

With growth in the tourism industry in popular tourist destinations, demand for amusement parks is increasing, hence, driving demand for amusement equipment. Tourists often seek entertainment experiences in new places during their travels to spend their leisure time. There has also been an increase in experiential entertainment as people prefer immersive experiences over spending time and money on material things. Additionally, increasing awareness about safety and security in rides in amusement parks, the demand is driven towards safer ride technologies, enhanced safety protocols, and eco-friendly practices.

However, in recent years, the COVID-19 pandemic had a significant impact on the amusement equipment market as there was a considerable decline in participants using amusement equipment as the public spaces went into lockdown due to the spread of the virus. Prolonged closures of entertainment parks caused a significant fall in the demand for amusement equipment. There was a loss of revenue from ticket sales, food and beverage sales, merchandise, and other sources significantly and many projects were delayed and put on hold due to the pandemic and its economic repercussions. During the pandemic, there was a shift in consumer preferences towards digital and virtual experiences leading to a decreased demand for outdoor attractions and promoting contactless experiences.

Amusement Equipment Market

By Type

Roller Coasters

Ferris Wheels

Thrill Rides

Arcade Games

The Market will Grow

At the CAGR of:

5.63%

The Forecast Market

Size for 2034 in USD:

$64.56B

Growth in the global amusement equipment market is also hampered by a lack of skilled labor, provision of quality services, and higher initial investment which is associated with such labor-intensive industries like entertainment. Additionally, several incidents of accidents have been documented that are associated with amusement equipment used in amusement parks and other entertainment sites, and hence safety and security are of utmost importance while designing and manufacturing amusement equipment.

Several acquisitions, product launches, and partnerships in the heater hose market have been directed in recent years, driving growth in this sector. Some of them are:
•    On July 10, 2023, CandyMachines.com, a manufacturer and distributor of amusement machines and equipment, and OK Manufacturing, a manufacturer of custom specialized amusement and vending equipment, announced a joint venture that aims to enhance the availability and quality of American-made electronic bulk vending and amusement machines.
•    Emerald Park, announced 2 new roller coasters, which will open to the public as a part of a Euro 22 million investment by next year. A new zone, inspired by Irish mythology is being developed for tourist attraction which will cover an area of 6.5 acres including a swinger attraction, food and beverage, and retail.

Amusement Equipment Market Segmental Analysis

The market is segmented based on type, age group, technology integration, and region.
Based on type, the global amusement equipment market is segmented into roller coasters, Ferris wheels, thrill rides, and arcade games.
Roller coasters are designed and manufactured with extensive engineering processes. They use specialized software to create ride layouts and ensure rider safety as a roller coaster comprises tracks with steep drops, sharp turns, and other thrilling elements. Ferris wheel is a large rotating amusement ride that has small passenger cabins attached to the rim. Riders board the cabin and the wheel is then slowly rotated in a circular motion to provide riders with panoramic views of the surrounding area. A thrill ride is an amusement ride designed to provide an intense and thrilling experience for the riders. Such types of rides typically feature high speeds, sudden drops, twists, and turns for excitement and adrenaline rush in people. Additionally, arcade games are coin-operated entertainment devices mainly found in amusement parks, entertainment centers, and other public venues.

Amusement Equipment Market

By Technology Integration

XX%

Traditional mechanical rides

Virtual Reality (VR)

Augmented Reality (AR)

Interactive Gaming Technologies

35.43

Total Market Size

USD (Billion), 2024

5.63%

CAGR

2024 - 2034

Based on Technology Integration, the market is segmented into Traditional mechanical rides, Virtual Reality (VR), Augmented Reality (AR), and interactive gaming technologies.

Traditional mechanical rides mainly operate through mechanical components like gears, pulleys, hydraulics, and pneumatics and rely on physical motion, gravity, and mechanical systems to provide entertainment experiences to the riders. For example, carousel rides, bumper cars, and swinging pendulum rides. VR attractions are an integration of virtual reality technology that creates interactive and immersive 3D experiences. Participants wear VR headsets that can simulate a virtual reality to provide immersive entertainment. AR technology can be integrated on smartphones or AR glasses to let people interact with virtual objects, characters, or environments. Additionally, interactive gaming technologies feature motion-based controls, tracking sensors, etc. for customizable experiences.

Amusement Equipment Market Regional Analysis

Geographically, the amusement equipment market operates across North America, Europe, Asia-Pacific, South America, and Middle East, and Africa.

Amusement Equipment Market

By Region

The Market will Grow

At the CAGR of:

5.63%

The Forecast Market

Size for 2034 in USD:

$64.56B

Amusement parks, and hence, the amusement equipment market is dominated by the North America region due to rising foreign and domestic tourism in the area along with increasing consumer purchasing power. The United States is one of the most significant markets for amusement parks in the North American region. Asia Pacific also holds a large market share due to the presence of major market players in the industry of amusement parks like Shanghai Disneyland, Tokyo Disneyland, Universal Studios Japan, Hong Kong Disneyland, and Universal Studios.

Amusement Equipment Market Key Players

The amusement equipment market includes several key players and the industry is characterized by collaboration strategies, partnerships, and innovation in products. Prioritizing research and development to stay ahead in the market plays an important role in sustaining growth in the industry and keeping up with continuous technological advancements.

In recent years, the market has witnessed several developments as companies strive to expand their product portfolios, geographical reach, and market share. For instance:
•    UNStudio plans to build the world’s highest spokeless Ferris wheel in Seoul in Sangam World Cup Park. The spokeless Ferris Wheel is a key element for the Mayor of Seoul’s vision, ‘Han River with a Thousand Sunsets.’ It is designed with two intersecting rings and will stand as the world’s tallest at 180 meters high.

Some of the key players of Amusement Equipments worldwide are Chance Rides, The Carousel Works, Felimana Luna Park, Amusement Rides, Fabbri Group, Carousel Confectionery, Bertazzon, Dodgem, Harold Stoehrer, Lusse Brothers, Disneyland, Dynamic Structures, Bestway Group, The Gravity Group, Gerstlauer, London Eye, Singapore Flyer.

Amusement Equipment Market Scope: