Top-Firm Revenue Share vs Industry Size in Thailand (2026)
In short
No, bigger sections do not have less dominant leaders. Wholesale and retail trade is the largest section by revenue, and its top firm still holds 14.34 percent of it. Mining and quarrying, a far smaller section, has the highest leader share at 19.04 percent. Across 18 sections, the rank correlation between revenue and leader share is only 0.18. Size tells you almost nothing about how dominant the number one company is.
Do bigger sections have less dominant leaders?
Not in Thailand. The intuition says a bigger pool of revenue should dilute any single firm. The registry says otherwise (DBD, 2026). Wholesale and retail trade books 38.74 trillion baht, nearly half the 18-section total, and its top company alone accounts for 14.34 percent of that. Manufacturing is the second largest at 25.13 trillion baht, and its leader holds 6.22 percent. Then look at mining and quarrying. It is a small section at 0.45 trillion baht, yet one company holds 19.04 percent of it. The ranking by size and the ranking by leader share barely line up, with a Spearman correlation of 0.18.
Top company share of section revenue
- Mining and quarrying19
- Information and communication15
- Administrative and support15
- Wholesale and retail trade14
- Arts and entertainment12
- Transportation and storage9
- Agriculture, forestry and fishing6
- Manufacturing6
- Financial and insurance6
- Human health and social work6
- Professional, scientific and technical5
- Electricity and gas5
- Other services4
- Water supply and waste4
- Education3
- Real estate3
- Construction2
- Accommodation and food service2
Figures in percent of section revenue.
Top company revenue divided by total section revenue, a CR1-style proxy. Sections with fewer than 100 companies are excluded.
Section size against leader share
| Industry section | Companies | Section revenue (trillion baht) | Leader share |
|---|---|---|---|
| Wholesale and retail trade | 715,976 | 39 | 14.34% |
| Manufacturing | 230,396 | 25 | 6.22% |
| Financial and insurance | 35,567 | 3 | 6.13% |
| Construction | 283,534 | 2 | 2.17% |
| Transportation and storage | 85,273 | 2 | 9% |
| Information and communication | 52,537 | 1 | 14.89% |
| Real estate | 149,608 | 1 | 2.83% |
| Administrative and support | 100,691 | 1 | 14.61% |
| Professional, scientific and technical | 138,962 | 1 | 4.77% |
| Accommodation and food service | 83,598 | 1 | 2% |
| Electricity and gas | 7,833 | 1 | 4.59% |
| Human health and social work | 17,294 | 1 | 5.94% |
| Agriculture, forestry and fishing | 19,259 | 0 | 6.43% |
| Mining and quarrying | 8,231 | 0 | 19.04% |
| Water supply and waste | 4,818 | 0 | 3.78% |
| Arts and entertainment | 18,486 | 0 | 11.84% |
| Other services | 20,455 | 0 | 4.15% |
| Education | 13,897 | 0 | 3.29% |
Sections ranked by total revenue, as of 17 Jul 2026. Leader share is top company revenue over section revenue.
Where the pattern breaks
Split the 18 sections into the six largest by revenue and the other twelve. The median leader share is 7.61 percent in the first group and 4.68 percent in the second. That is the opposite of the dilution story. Two heavy hitters pull the large group up: information and communication at 14.89 percent and wholesale and retail at 14.34 percent. Meanwhile construction, the fourth largest by revenue, has a leader at just 2.17 percent. The count of companies does not help either. Its rank correlation with leader share is about zero, at negative 0.005. Sector structure matters more than sector size.
Why this matters
Anyone who treats a big sector as an open field is guessing. A founder entering wholesale and retail faces a number one that already holds one baht in every seven. A buyer screening for consolidation targets should look at the leader share, not the revenue pool. Competition regulators have the same lesson. The sections that look crowded by company count can still have a clear front runner. This is a one-firm view, so it cannot see whether the next four firms are close behind. It is a floor on concentration, not a full picture.
Definitions
- CR1
- The share of an industry total held by its single largest firm. Here it is approximated by top company revenue divided by section revenue.
- Spearman rank correlation
- A measure from negative 1 to 1 of how closely two rankings agree. Zero means no relationship.
- TSIC section
- One of the 21 lettered top-level industry groups in the Thai Standard Industrial Classification.
- Leader share
- The top company revenue as a percent of total revenue in its section.
Assumptions
- Top company revenue is taken from the registry as stored and may reflect a different statement year than other firms in the section.
- The top company is the one with the highest reported revenue, not necessarily the one a reader would name as the market leader.
- Sections are broad. A leader of a whole section may face no direct rival at all.
- Only filed statements count, so unfiled firms are invisible to the ratio.
- The registry aggregates were computed on 17 July 2026, later than the 7 July anchor used elsewhere on the site.
Methodology
Section revenue and top company revenue come from the Department of Business Development registry aggregates for each of the 21 TSIC industry sections, as of 17 July 2026, the date the aggregates were last computed. Leader share is the revenue of the single largest company in a section divided by total reported revenue of that section, a CR1-style proxy. Only companies with a filed financial statement contribute. Households, extraterritorial bodies and public administration are excluded because they hold 32, 4 and 38 companies. Revenue may mix statement years across companies. Spearman rank correlation was computed across the 18 remaining sections.
How we verified this
- Leader share recomputed per section as top company revenue over section revenue. Wholesale and retail: 5,556.70 billion / 38,739.27 billion = 14.34 percent.
- Mining and quarrying: 85.47 billion / 448.87 billion = 19.04 percent. Accommodation and food service: 18.88 billion / 941.43 billion = 2.00 percent.
- Manufacturing: 1,562.34 billion / 25,130.98 billion = 6.22 percent. Construction: 50.37 billion / 2,325.77 billion = 2.17 percent.
- Spearman rank correlation of section revenue against leader share across 18 sections recomputed as 0.176, rounded to 0.18. Against company count it is negative 0.005.
- Median leader share of the six largest sections: sorted values 2.17, 6.13, 6.22, 9.00, 14.34, 14.89 give a middle pair of 6.22 and 9.00, so the median is 7.61 percent. The other twelve have a median of 4.68 percent.
- Wholesale and retail revenue over the 18-section total of 80.07 trillion baht is 48.38 percent, matching the nearly half statement.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates [Data set]. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- OECD. (2024). Market concentration. OECD Publishing. https://www.oecd.org/competition/
Frequently asked questions
Which Thai industry has the most dominant top company?
Mining and quarrying, where the largest company holds 19.04 percent of section revenue as of 17 July 2026 (DBD, 2026).
Is the largest Thai industry section dominated by one company?
Wholesale and retail trade has the largest revenue pool at 38.74 trillion baht, and its top company holds 14.34 percent of it.
Does a bigger section mean more competition?
Not reliably. The rank correlation between section revenue and leader share is 0.18, which is weak.
Is leader share the same as market concentration?
No. It is a CR1-style proxy that looks only at the single largest firm and ignores the rest of the field.
Cite this page
Chatpong L. (2026). Top-Firm Revenue Share vs Industry Size in Thailand (2026). Max Data Insights. https://maxdatathailand.com/insights/do-bigger-thai-industry-sections-have-less-dominant-leaders-2026
Data & corrections
Download the data (CSV)Spot something off, or want to ask about the data? Email insights@maxsolutions.co.th. We publish corrections.
Written by
Chatpong L.Founder, Max Data, Max Solutions Co., Ltd.
Chatpong L. leads Max Data, a company-intelligence platform built on Thailand's official business registry. He writes about the structure of the Thai economy using primary registry data. His work covers company formation, industry concentration, and regional business activity.
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This page reports company-level and aggregate statistics only. It names no individuals and makes no claims about any person. Figures are provided for information and may be revised as source data updates.