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Ferris Wheel Market Size, Share, Analysis & Forecast [2031]

Ferris Wheel Market

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Segments - By Type (Observation Wheel, Transportable Wheel, Traditional Ferris Wheel and Others), Application (Playground and Landscape), Sales Channel (Manufacturer & Distributor and Service Provider & Aftermarket) and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends and, Forecast 2023 – 2031

CG-6334
4.8 Rating
244 Pages

12-02-2023
68 Reviews

Author :

Debadatta Patel

Fact-checked by :

PARTHA PAUL

Editor :

Aman Singh

Report Description

Market Outlook:

The Global Ferris Wheel Market was estimated at USD 1,656.4 Million in 2022 and is anticipated to reach USD ~2,144.9 Million by 2031, expanding at a CAGR of 2.9% during the forecast period.

Ferris wheels are type of amusement ride that consists of a large upright wheel with passenger-carrying cabins attached to the rim for the passengers to maintain upright, generally by gravity, as the wheel turns.

The lights of a Ferris wheel are powered by slip rings, which are circular rings attached to the rotating Ferris wheel, ensuring the lights continue to sparkle without safety issues or excessive electricity cables.

The research report states that the COVID-19 Pandemic significantly impacts the market. During the height of the pandemic, many amusement parks, tourist attractions, and entertainment venues were forced to temporarily close to comply with lockdown measures and social distancing guidelines. Ferris wheel operators experienced significant revenue losses, due to reduced visitor numbers and decreased ticket sales.

Macro-economic Factors

GDP Growth

GDP growth rate of a country, the overall economic growth, and stability of countries significantly impact the Ferris wheel market across the globe. High GDP growth rates lead to increased expenses for entertainment such as Ferris wheel rides.

When the GDP grows, it generally indicates a healthy economy with high income, employment, and consumer confidence. Individuals and households have disposable income to allocate to leisure activities, including visits to amusement parks and Ferris wheel rides, as the economy expands.

For instance, the US accounts for 24.67% share of the global economy, while China holds a share of 17.39%, Japan accounts for 5.97%, Germany accounts for 4.54%, and the UK makes up 3.26%. Therefore, the US has large number of Ferris wheel within the country.

Ferris Wheel Market Dynamics

Market Driver- Rising Demand for Unique Experiences

Rising demand for unique experiences fuels the Ferris wheel market. Ferris wheels offer several key benefits, including providing passengers with awe-inspiring views of the surroundings, enhancing their experience at amusement and observation attractions, and serving as iconic symbols that contribute to the identity and tourism of cities.

Ferris wheels allow riders to enjoy a panoramic view of the entire city, enabling them to see famous landmarks, skyscrapers, and neighbourhoods from an entirely new perspective.

For instance, the London Eye is a cantilevered observation wheel located on the South Bank of the River Thames in London. The Eye has 32 climate-controlled passenger capsules, each representing one of the boroughs of London. The capsules move slowly, allowing visitors to take in the panoramic views of the city from all angles.

Market Driver- Rapid Urbanization

Growing demand for Ferris wheel is driven by increasing urbanization around the world. Urbanization leads to the expansion of recreation functions, which fuels the demand for entertainment facilities such as Ferris wheels.

Urbanization, typically begins when industrialization creates a high demand for factory labour, leading to a massive increase in the number of factories and the growth of urban centres. This results in the natural population growth and the need for cities to expand to meet the growing demand, including the development of infrastructure and entertainment attractions such as Ferris wheels.

Therefore, rapid urbanization process, especially in emerging economies, is expected to drive the demand for Ferris wheels as cities seek iconic landmarks to differentiate themselves and attract customers.

Existing Restraints - High Initial Investments

High initial investments impede the global Ferris wheel market. The construction and installation of a Ferris wheel involve substantial costs.

The profitability of a Ferris wheel is influenced by factors such as the initial construction and installation costs, ongoing maintenance expenses, and the revenue generated from ticket sales. High initial investments amount to millions of dollars, affects the time it takes for the Ferris wheel to start generating profits.

For instance, the original Ferris wheel, built for the 1893 World's Columbian Exposition in Chicago, the US, shows a substantial financial commitment required for the development and relocation of a Ferris wheel. The reassembly of the Ferris wheel at a new location involved USD 40,000 for the foundation and USD 185,000 for the removal. This is expected to hinder the global Ferris wheel market.

Emerging Opportunities - Technological Advancements and Customization

Technological advancements and customization are expected to create various opportunities in the Ferris wheel market during the forecast period.

Ferris wheel manufacturers offer customization, allowing parks to match the ride with their ambiance and theme. This provides parks with the opportunity to create unique and personalized experiences for their visitors.

Technological advancements employ high-quality materials such as stainless steel, aluminum, and fiber-reinforced plastic in Ferris wheel manufacturing. This improves the reliability and safety of Ferris wheels, presenting opportunities to enhance the overall ride experience.

For example, during the construction of Ain Dubai, protective coatings were used to provide corrosion and UV resistance to the wheel, due to the harsh local climate and the Ferris wheel's proximity to water.

Scope of the Ferris Wheel Market Report

The report on the Global Ferris Wheel Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Ferris Wheel – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
Base Year	2022
Historic Data	2016-2021
Forecast Period	2023–2031
Segmentation	By Type (Observation Wheel, Transportable Wheel, Traditional Ferris Wheel and Others), By Application (Playground and Landscape), By Sales Channel (Manufacturer & Distributor and Service Provider & Aftermarket)
Regional Scope	Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered	Chance Rides, LLC, Dutch Wheels B.V., Fabbri Group, Henan Beston Rides Co., Ltd, Huss Park Attractions GmbH, Intamin Amusement Rides Int. Corp. Est., KMG Europe BV, SINORIDES, TECHNICAL PARK S.N.C., Zhejiang Juma Entertainment Co., Ltd, and Zhengzhou Prodigy Amusement Equipment Co., Ltd.

Market Segment Insights

Based on Type, the market is segmented into observation wheel, transportable wheel, traditional Ferris wheel, and others. The observation wheel segment is expected to hold a considerable share of the market and is expected to grow with a significant CAGR during the forecast.

The demand for iconic landmarks and attractions is increasing as global travel continues to grow. Observation Ferris wheels offer a unique vantage point for tourists to see cityscapes, landmarks, and natural attractions, thus driving their demand.

Based on Application, the market is bifurcated into playground and landscape. The playground held a significant share of the market in 2022 and is anticipated to expand at a considerable CAGR during the forecast period. Increasing urbanization drives need for recreational spaces and attractions within cities. Playground Ferris wheels offer a fun and engaging activity for families and children in urban areas, thus driving the demand for these attractions.

In terms of Sales Channel, the market is divided into manufacturer & distributor and service provider & aftermarket. The manufacturer & distributor segment is anticipated to expand at a significant CAGR during the forecast period, as the growth of the global tourism industry drives the demand for Ferris wheels as iconic attractions in tourist destination. Manufacturers and distributors capitalize on this trend by offering innovative and visually appealing Ferris wheel designs that attract visitors seeking unique experiences and panoramic views.

Regional Outlook

Based on regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific held a substantial share of the market in 2022 and is projected to expand at a significant CAGR during the forecast period.

Asia Pacific is home to a diverse range of attractions, including theme parks and cultural destinations. Ferris wheels are often integrated into these as signature attractions, adding to the overall visitor experience and contributing to the success of these destinations. Moreover, the Ferris wheel market in the region is also driven by factors such as rapid urbanization, growing tourism practices, and developments of theme parks.

Key Benefits for Industry Participants & Stakeholders

In-depth Analysis of the Global Ferris Wheel Market
Historical, Current, and Projected Market Size in Terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players

Segments

By Type

Observation Wheel
Transportable Wheel
Traditional Ferris Wheel
Others

By Application

Playground
Landscape

By Sales Channel

Manufacturer & Distributor
Service Provider & Aftermarket

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Key Market Players Profiled in the Report

Chance Rides, LLC
Dutch Wheels B.V.
Fabbri Group
Henan Beston Rides Co., Ltd
Huss Park Attractions GmbH
Intamin Amusement Rides Int. Corp. Est.
KMG Europe BV
SINORIDES
TECHNICAL PARK S.N.C.
Zhejiang Juma Entertainment Co., Ltd
Zhengzhou Prodigy Amusement Equipment Co., Ltd

Competitive Landscape

Manufacturers operating in the Global Ferris Wheel Market are Chance Rides, LLC, Dutch Wheels B.V., Fabbri Group, Henan Beston Rides Co., Ltd, Huss Park Attractions GmbH, Intamin Amusement Rides Int. Corp. Est., KMG Europe BV, SINORIDES, TECHNICAL PARK S.N.C., Zhejiang Juma Entertainment Co., Ltd, and Zhengzhou Prodigy Amusement Equipment Co., Ltd.
Market players are pursuing strategies such as acquisitions, product launches, collaborations, and geographic expansion to leverage untapped opportunities in the Global Ferris Wheel Market.

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Ferris Wheel Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Ferris Wheel Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Ferris Wheel Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Ferris Wheel Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Ferris Wheel Market Size & Forecast, 2016-2031
      4.5.1 Ferris Wheel Market Size and Y-o-Y Growth
      4.5.2 Ferris Wheel Market Absolute $ Opportunity
   4.6 Annual Visitors Footfall of Key Ferris Wheels
   4.7 Upcoming Ferris Wheel Projects
   4.8 Completed Ferris Wheel Projects
Chapter 5 Global Ferris Wheel Market Analysis and Forecast By Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Type
      5.1.2 Basis Point Share (BPS) Analysis By Type
      5.1.3 Absolute $ Opportunity Assessment By Type
   5.2 Ferris Wheel Market Size Forecast By Type
      5.2.1 Observation Wheel
      5.2.2 Transportable Wheel
      5.2.3 Traditional Ferris Wheel
      5.2.4 Others
   5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Ferris Wheel Market Analysis and Forecast By Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Application
      6.1.2 Basis Point Share (BPS) Analysis By Application
      6.1.3 Absolute $ Opportunity Assessment By Application
   6.2 Ferris Wheel Market Size Forecast By Application
      6.2.1 Playground
      6.2.2 Landscape
   6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Ferris Wheel Market Analysis and Forecast By Sales Channel
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By Sales Channel
      7.1.2 Basis Point Share (BPS) Analysis By Sales Channel
      7.1.3 Absolute $ Opportunity Assessment By Sales Channel
   7.2 Ferris Wheel Market Size Forecast By Sales Channel
      7.2.1 Manufacturer & Distributor
      7.2.2 Service Provider & Aftermarket
   7.3 Market Attractiveness Analysis By Sales Channel
Chapter 8 Global Ferris Wheel Market Analysis and Forecast by Region
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities by Region
      8.1.2 Basis Point Share (BPS) Analysis by Region
      8.1.3 Absolute $ Opportunity Assessment by Region
   8.2 Ferris Wheel Market Size Forecast by Region
      8.2.1 North America
      8.2.2 Europe
      8.2.3 Asia Pacific
      8.2.4 Latin America
      8.2.5 Middle East & Africa (MEA)
   8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
   9.1 Introduction
   9.2 Current & Future Impact Analysis
   9.3 Economic Impact Analysis
   9.4 Government Policies
   9.5 Investment Scenario
Chapter 10 North America Ferris Wheel Analysis and Forecast
   10.1 Introduction
   10.2 North America Ferris Wheel Market Size Forecast by Country
      10.2.1 U.S.
      10.2.2 Canada
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 North America Ferris Wheel Market Size Forecast By Type
      10.6.1 Observation Wheel
      10.6.2 Transportable Wheel
      10.6.3 Traditional Ferris Wheel
      10.6.4 Others
   10.7 Basis Point Share (BPS) Analysis By Type
   10.8 Absolute $ Opportunity Assessment By Type
   10.9 Market Attractiveness Analysis By Type
   10.10 North America Ferris Wheel Market Size Forecast By Application
      10.10.1 Playground
      10.10.2 Landscape
   10.11 Basis Point Share (BPS) Analysis By Application
   10.12 Absolute $ Opportunity Assessment By Application
   10.13 Market Attractiveness Analysis By Application
   10.14 North America Ferris Wheel Market Size Forecast By Sales Channel
      10.14.1 Manufacturer & Distributor
      10.14.2 Service Provider & Aftermarket
   10.15 Basis Point Share (BPS) Analysis By Sales Channel
   10.16 Absolute $ Opportunity Assessment By Sales Channel
   10.17 Market Attractiveness Analysis By Sales Channel
Chapter 11 Europe Ferris Wheel Analysis and Forecast
   11.1 Introduction
   11.2 Europe Ferris Wheel Market Size Forecast by Country
      11.2.1 Germany
      11.2.2 France
      11.2.3 Italy
      11.2.4 U.K.
      11.2.5 Spain
      11.2.6 Russia
      11.2.7 Rest of Europe
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Europe Ferris Wheel Market Size Forecast By Type
      11.6.1 Observation Wheel
      11.6.2 Transportable Wheel
      11.6.3 Traditional Ferris Wheel
      11.6.4 Others
   11.7 Basis Point Share (BPS) Analysis By Type
   11.8 Absolute $ Opportunity Assessment By Type
   11.9 Market Attractiveness Analysis By Type
   11.10 Europe Ferris Wheel Market Size Forecast By Application
      11.10.1 Playground
      11.10.2 Landscape
   11.11 Basis Point Share (BPS) Analysis By Application
   11.12 Absolute $ Opportunity Assessment By Application
   11.13 Market Attractiveness Analysis By Application
   11.14 Europe Ferris Wheel Market Size Forecast By Sales Channel
      11.14.1 Manufacturer & Distributor
      11.14.2 Service Provider & Aftermarket
   11.15 Basis Point Share (BPS) Analysis By Sales Channel
   11.16 Absolute $ Opportunity Assessment By Sales Channel
   11.17 Market Attractiveness Analysis By Sales Channel
Chapter 12 Asia Pacific Ferris Wheel Analysis and Forecast
   12.1 Introduction
   12.2 Asia Pacific Ferris Wheel Market Size Forecast by Country
      12.2.1 China
      12.2.2 Japan
      12.2.3 South Korea
      12.2.4 India
      12.2.5 Australia
      12.2.6 South East Asia (SEA)
      12.2.7 Rest of Asia Pacific (APAC)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Asia Pacific Ferris Wheel Market Size Forecast By Type
      12.6.1 Observation Wheel
      12.6.2 Transportable Wheel
      12.6.3 Traditional Ferris Wheel
      12.6.4 Others
   12.7 Basis Point Share (BPS) Analysis By Type
   12.8 Absolute $ Opportunity Assessment By Type
   12.9 Market Attractiveness Analysis By Type
   12.10 Asia Pacific Ferris Wheel Market Size Forecast By Application
      12.10.1 Playground
      12.10.2 Landscape
   12.11 Basis Point Share (BPS) Analysis By Application
   12.12 Absolute $ Opportunity Assessment By Application
   12.13 Market Attractiveness Analysis By Application
   12.14 Asia Pacific Ferris Wheel Market Size Forecast By Sales Channel
      12.14.1 Manufacturer & Distributor
      12.14.2 Service Provider & Aftermarket
   12.15 Basis Point Share (BPS) Analysis By Sales Channel
   12.16 Absolute $ Opportunity Assessment By Sales Channel
   12.17 Market Attractiveness Analysis By Sales Channel
Chapter 13 Latin America Ferris Wheel Analysis and Forecast
   13.1 Introduction
   13.2 Latin America Ferris Wheel Market Size Forecast by Country
      13.2.1 Brazil
      13.2.2 Mexico
      13.2.3 Rest of Latin America (LATAM)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Latin America Ferris Wheel Market Size Forecast By Type
      13.6.1 Observation Wheel
      13.6.2 Transportable Wheel
      13.6.3 Traditional Ferris Wheel
      13.6.4 Others
   13.7 Basis Point Share (BPS) Analysis By Type
   13.8 Absolute $ Opportunity Assessment By Type
   13.9 Market Attractiveness Analysis By Type
   13.10 Latin America Ferris Wheel Market Size Forecast By Application
      13.10.1 Playground
      13.10.2 Landscape
   13.11 Basis Point Share (BPS) Analysis By Application
   13.12 Absolute $ Opportunity Assessment By Application
   13.13 Market Attractiveness Analysis By Application
   13.14 Latin America Ferris Wheel Market Size Forecast By Sales Channel
      13.14.1 Manufacturer & Distributor
      13.14.2 Service Provider & Aftermarket
   13.15 Basis Point Share (BPS) Analysis By Sales Channel
   13.16 Absolute $ Opportunity Assessment By Sales Channel
   13.17 Market Attractiveness Analysis By Sales Channel
Chapter 14 Middle East & Africa (MEA) Ferris Wheel Analysis and Forecast
   14.1 Introduction
   14.2 Middle East & Africa (MEA) Ferris Wheel Market Size Forecast by Country
      14.2.1 Saudi Arabia
      14.2.2 South Africa
      14.2.3 UAE
      14.2.4 Rest of Middle East & Africa (MEA)
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Middle East & Africa (MEA) Ferris Wheel Market Size Forecast By Type
      14.6.1 Observation Wheel
      14.6.2 Transportable Wheel
      14.6.3 Traditional Ferris Wheel
      14.6.4 Others
   14.7 Basis Point Share (BPS) Analysis By Type
   14.8 Absolute $ Opportunity Assessment By Type
   14.9 Market Attractiveness Analysis By Type
   14.10 Middle East & Africa (MEA) Ferris Wheel Market Size Forecast By Application
      14.10.1 Playground
      14.10.2 Landscape
   14.11 Basis Point Share (BPS) Analysis By Application
   14.12 Absolute $ Opportunity Assessment By Application
   14.13 Market Attractiveness Analysis By Application
   14.14 Middle East & Africa (MEA) Ferris Wheel Market Size Forecast By Sales Channel
      14.14.1 Manufacturer & Distributor
      14.14.2 Service Provider & Aftermarket
   14.15 Basis Point Share (BPS) Analysis By Sales Channel
   14.16 Absolute $ Opportunity Assessment By Sales Channel
   14.17 Market Attractiveness Analysis By Sales Channel
Chapter 15 Competition Landscape
   15.1 Ferris Wheel Market: Competitive Dashboard
   15.2 Global Ferris Wheel Market: Market Share Analysis, 2022
   15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      15.3.1 Chance Rides, LLC
      15.3.2 Dutch Wheels B.V.
      15.3.3 Fabbri Group
      15.3.4 Henan Beston Rides Co., Ltd
      15.3.5 Huss Park Attractions GmbH
      15.3.6 Intamin Amusement Rides Int. Corp. Est.
      15.3.7 KMG Europe BV
      15.3.8 SINORIDES
      15.3.9 TECHNICAL PARK S.N.C.
      15.3.10 Zhejiang Juma Entertainment Co., Ltd
      15.3.11 Zhengzhou Prodigy Amusement Equipment Co.,Ltd

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FAQ Section

Some frequently asked questions about this report!

1. Can I ask for different company profiles?

Additional company profiles can be provided on request. For a discussion related to the above findings, click Speak to Analyst

2. What are the criteria used for selecting a company profile?

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

3. What are the factors driving the growth of the Global Ferris Wheel Market?

Rapid Urbanization is the factor expected to drive the market growth during the forecast period.

4. How large will be the Global Ferris Wheel Market in 2031?

According to this Growth Market Reports report, the Global Ferris Wheel Market is likely to register a CAGR of 2.9% during the forecast period 2023-2031, with a projected valuation of USD ~2,144.9 Million by the end of 2031.

5. Which macroeconomic factors affect the market?

Factors such as GDP Growth is analyzed in the final report.

6. Who are the major players operating in the market?

Major manufacturers include Chance Rides, LLC, Dutch Wheels B.V., Fabbri Group, Henan Beston Rides Co., Ltd, Huss Park Attractions GmbH, Intamin Amusement Rides Int. Corp. Est., KMG Europe BV, SINORIDES, TECHNICAL PARK S.N.C., Zhejiang Juma Entertainment Co., Ltd, and Zhengzhou Prodigy Amusement Equipment Co., Ltd.

7. What is the impact of COVID-19 on the overall market during the years 2019 -2020?

The pandemic had a significant impact on various markets, including the Ferris Wheel market. The pandemic disrupted ongoing construction & consulting projects and delayed the completion of new Ferris wheel installations. Additionally, supply chain disruptions, labor shortages, and government restrictions on construction activities contributed to delays and increased projected costs.