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I've tried to search the Parallels Desktop website, but did not find any information about licensing in this case:
If I use the same Apple ID on two Macs, is it then possible for me to install Parallels Desktop on both machines, or would I need to purchase a second product (key)?

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You'll need two product keys, applications are not tied to your Apple ID unless you've bought them through the Mac App store, and most applications ship with the general terms of license that it's one key per person/per machine. Not used Parallels for a very long time so not sure if they've changed it but it used to be one key per machine.

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