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