Water Park Market Size, Share, Growth, and Industry Analysis, By Type (Ancillary Facility of Tourist Resort Area, Part of a Large Theme Park, Recreational Facility in Business Apartments, Independent Type and Others), By Application (Child, Adult, General and Others.), Regional Forecast to 2031

Updated On: 29 April 2024

REPORT OVERVIEW

The global water park market size was USD 2531.3 million in 2022. As per our research, the market is projected to touch USD 4016.8 million by 2029, exhibiting a CAGR of 8.0% during the forecast period.  The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Within the global amusement and entertainment business, the water-park market is a sizable segment. Recreational centres with water play sections, including wave pools, swimming pools, water slides, splash pads, and lazy rivers, are known as water parks. Especially in the sweltering summer months, these parks are meant to entertain and delight people of all ages. Due to expanding tourism, shifting consumer lifestyles, and more disposable income, the water park sector has experienced significant expansion in recent years.

COVID-19 Impact: COVID-19 Underlying Condition led Temporary Closures and Operational Adjustments which Weakened the Market Growth

The COVID-19 had a major effect on the market, as it did on many other areas of the leisure and tourism industry. The pandemic had an impact on water parks all across the world in a number of ways, including tourist behaviour, operating processes, and revenue streams. During the early stages of the pandemic, many parks around the world had to temporarily close in order to stop the virus's spread. When parks were permitted to reopen, they frequently ran at a reduced capacity in order to uphold social distance protocols. Because fewer people could enter the parks at any given time as a result of this restriction, income was immediately impacted. Strict health and safety regulations, such as regular ride and facility sanitization, mask wearers being required in some sections, and temperature checks at access points, had to be put in place by water-parks.

LATEST TRENDS

"Themed Parks and Innovative Rides to Indulge Consumers and Bolster Market Growth"

Themes drawn from popular culture, films, and characters are being incorporated into water-parks to create immersive surroundings that improve the entire experience of guests. Parks are using storytelling components in their rides to create compelling stories that draw guests in and enhance their overall experience. These rides combine aspects of roller coasters and water slides to create an exciting and one-of-a-kind experience. Multi-level buildings that encourage social contact and cater to different age groups with a variety of water elements and activities. In order to create a new environment and draw guests after dusk, water-parks are holding nighttime events with special lighting, music, and entertainment. incorporating interactive entertainment, live performances, and events into the park to vary the activities offered to visitors.

SEGMENTATION

By Type

Based on type the market is classified as ancillary facility of tourist resort area, part of a large theme park, recreational facility in business apartments, independent type and others.

By Application

Based on application the market is classified as child, adult, general and others.

DRIVING FACTORS

"Regions with Warm and Hot Climate to Witness an Ocean of Market Share to Attract the Market Share"

In areas with warm, humid weather, where people are looking for methods to stay cool throughout the summer, water-parks are very popular. While businesses in seasonal climates concentrate on maximising business during the hot seasons, those with consistently warm weather are able to function year-round.

"Tourism Attractions and Innovative Parks, Rides to be a Surplus Growth in Market"

Two important characteristics are a large local population and proximity to tourism locations. Water-based entertainment is popular among tourists, and a sizable local population offers a consistent clientele, particularly on weekends and public holidays. To draw guests, water parks constantly make investments in cutting-edge and exhilarating water rides and attractions. Exciting and distinctive rides that appeal to both thrill-seekers and family include wave pools, lazy rivers, and multi-story water slides. Visitors enjoy themselves in delightful places with imaginative themes and visually appealing designs are found in the parks. A favourite destination for families and tourists, the park's overall mood is enhanced by its themed attractions, vegetation, and architectural features. The experience of visitors is improved by water-parks that include practical amenities like locker rentals, comfy seats, covered places, and a selection of food and beverage options. The availability of facilities like water fountains and sunscreen booths also influences how satisfied customers are.

RESTRAINING FACTORS

"Weather Dependency and Water Conservation to Restrain the Market from Utilization"

The majority of water-parks have seasonal openings and are highly weather-dependent. Their earning potential is restricted to a particular period of the year because they can only operate during the warm months. Water-parks are susceptible to bad weather, such as rain, storms, and intense heat, even during the official operating season. This can have a big impact on the number of visitors. Natural catastrophes like hurricanes and floods can seriously harm infrastructure and cause operational disruptions to water parks, particularly those situated in coastal areas. Water is used extensively in water-parks. It can be difficult to strike a balance between the necessity of water recreation and the significance of water conservation, particularly in areas where water is scarce. However, the extreme cold weather, natural calamities and water conservation operations can pose a challenge in the water park market growth.

REGIONAL INSIGHTS

"Asia Pacific Region to Lead Market with Tourism Attractions and Innovative Parks and Rides"

The Asia Pacific region covers a huge water park market share, with tourism attractions and innovative rides and themed parks. Water park construction has increased in nations like Thailand, Malaysia, and Indonesia as a result of growing middle-class demand for leisure activities and increased tourism. The water-park sector in China has grown significantly in the last few years. Large-scale parks have been constructed in a number of Chinese cities, including Guangzhou, Beijing, and Shanghai, to accommodate the nation's expanding middle class and boost domestic travel.

KEY INDUSTRY PLAYERS

"Key Manufacturers to Help the Market Expand"

The study is a thorough investigation that shows the industry's historical and projected performance along with a competitive landscape analysis that takes into account important companies and industry revenue patterns. The study offers a thorough analysis of the supply-demand chain, company profiles, growth insights, production and consumption demand, and business expansion methods used by major players in the industry. The data is a compilation of the most recent advancements in technology, industry trends, production line mergers and acquisitions, market research, and other elements.

List of Market Players Profiled

• Chimelong (China)
• Disney's Typhoon Lagoon (U.S.)
• Disney's Blizzard Beach (U.S.)
• Parque Aquático (Brazil)
• Volcano Bay™ Themed (U.S.)
• Aquatica Orlando (U.S.)
• Therme Erding (Germany)
• Wuhu Fantawild (China)
• Yinji Kaifeng Water World (China)
•  Shenyang Royal Ocean Park Water World (China).

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.