Thailand's Fastest-Growing Industry Codes by Revenue, 2026
In short
Electronic computer assembly, TSIC code 26201, grew revenue at an 86.9 percent compound annual rate over the past three years, the fastest of any five digit Thai industry code with a meaningful base. Wholesale of metal ores, TSIC 46621, ranks second at 73.7 percent. Metal ore wholesaling alone reported 3.53 trillion baht in the latest year, equal to 4.4 percent of every baht Thailand's companies reported nationwide. Both industries carry thin margins under 1.4 percent, so the growth is in volume, not profit.
Which industry code grew revenue fastest?
Two five digit industry codes lead Thailand's growth ranking. Manufacture and assembly of electronic computers, TSIC code 26201, posted an 86.9 percent compound annual growth rate in revenue between 2022 and 2025, the fastest of any code with a meaningful base (DBD, 2026). Its aggregate revenue climbed from 41.02 billion baht in 2022 to 267.69 billion baht in 2025, a 6.5 fold increase, spread across 763 companies ever registered under the code, 10 of them classified as large. Wholesale of ferrous and non ferrous metal ores, TSIC 46621, ranks second at a 73.7 percent three year rate. That code's revenue rose from 673.01 billion baht to 3.53 trillion baht over the same three years, making it alone worth 4.4 percent of every baht reported by Thailand's 1.99 million registered companies. Both figures come from a pool of 741 industry codes that clear a materiality bar of at least 50 registered companies and 1 billion baht of latest year revenue, out of 986 five digit codes with comparable revenue in both 2022 and 2025.
Three year revenue CAGR, top 10 named industry codes
- 26201, computer assembly87
- 46621, metal ore wholesale74
- 01289, spice and drug crop growing64
- 66193, custody services62
- 77303, aircraft leasing62
- 46104, computer wholesale on fee basis54
- 52231, airport operation53
- 26600, electromedical equipment53
- 64991, fund distribution49
- 79120, tour operators48
Figures in percent, 3 year CAGR.
Computer assembly and metal ore wholesaling lead by a wide margin over the rest of the top 10.
Ten fastest growing named industry codes by revenue
| TSIC code | Industry | Section | 3 year CAGR | 1 year CAGR | Companies | Large companies |
|---|---|---|---|---|---|---|
| 26201 | Manufacture and assembly of electronic computers | C | 86.9% | 128.5% | 763 | 10 |
| 46621 | Wholesale of ferrous and non ferrous metal ores | G | 73.7% | 138.0% | 2,070 | 35 |
| 01289 | Growing of other spices, aromatic, drug and pharmaceutical crops | A | 63.7% | 46.0% | 1,820 | 1 |
| 66193 | Custody services | K | 61.7% | 20.0% | 442 | 2 |
| 77303 | Renting and leasing of air transport equipment | N | 61.5% | 129.4% | 52 | 1 |
| 46104 | Wholesale on a fee or contract basis of computers, software and telecom equipment | G | 53.6% | 197.7% | 2,272 | 13 |
| 52231 | Operation of airports, except cargo handling | H | 53.3% | 2.4% | 173 | 7 |
| 26600 | Manufacture of irradiation and electromedical equipment | C | 53.0% | 131.5% | 51 | 1 |
| 64991 | Distributing funds other than by making loans | K | 49.1% | -11.2% | 290 | 4 |
| 79120 | Tour operator activities | N | 48.0% | -9.9% | 10,312 | 21 |
Three year and one year revenue CAGR by five digit TSIC code, limited to codes with 50 or more registered companies and over 1 billion baht of latest year revenue, as of 17 Jul 2026.
Fast growth, thin margins
Neither leader is a profit machine, and that is the point. Electronic computer assembly runs a net margin of 1.4 percent, and metal ore wholesaling runs a net margin of essentially zero at 0.003 percent. Both are volume trades that pass enormous revenue through razor thin margins, closer to assemblers and intermediaries than to owners of the value they move. The computer code's climb was not smooth either. Its revenue sat near 41.02 billion baht in 2022, slipped to 35.57 billion baht in 2023, then rocketed to 117.15 billion baht in 2024 and 267.69 billion baht in 2025, which is why the one year growth rate alone reads 128.5 percent. Metal ore wholesaling grew more evenly, roughly doubling in each of its final two years on the way to 3.53 trillion baht. Only 259 of the 763 companies ever registered under code 26201 remain active, a 33.9 percent survival rate, so today's leader is a smaller and more concentrated group than the entity count alone suggests. Fast revenue growth and thin margins tend to travel together in these rankings, since a business that mostly passes goods through at cost can double its revenue without doubling its risk or its headcount. Thailand's fastest corporate growth right now sits in electronics assembly and mineral trading, filed with the DBD and counted alongside every other registered company in the country.
Definitions
- TSIC code
- Thailand Standard Industrial Classification code, a five digit number identifying a company's specific line of business within one of 21 broader lettered industry sections.
- Named industry code
- A five digit TSIC code paired with its official English language industry name from Thailand's TSIC 2009 classification standard, reported by name alongside the code number.
- Three year CAGR
- Compound annual growth rate, the constant yearly growth rate that would take a starting value to an ending value over three years. Calculated as the ending revenue divided by the starting revenue, raised to the power of one third, minus one.
- One year CAGR
- The percentage change in aggregate revenue for a code from the second most recent reported year to the latest reported year.
- Net margin
- Net profit as a share of revenue for all companies in a code that filed a financial statement in the latest year.
- Entity count and survival rate
- Entity count is every company ever registered under a code. Active count is how many remain active today. Survival rate is active count divided by entity count.
- Materiality filter
- A minimum size threshold, here 50 registered companies and 1 billion baht of latest year revenue, applied before ranking so that a code with only a handful of tiny filers cannot produce an extreme growth rate.
Assumptions
- The growth ranking excludes industry codes with fewer than 50 companies ever registered or less than 1 billion baht of latest year revenue, since a tiny base can produce a distorted percentage.
- Revenue figures are aggregate totals across every company filing under a code in a given year, not the average of each company's own growth rate, so the entry or exit of one large filer can move the whole code.
- A three year CAGR compares only two endpoints, the latest year and the year three periods earlier, so a single unusually strong or weak year can swing the published rate, as it does for code 26201.
- Industry names come from Thailand's official TSIC 2009 classification standard shown in English translation, which may render slightly differently from an official Thai language source.
Methodology
Three year revenue CAGR is calculated for every five digit TSIC industry code as the compound annual growth rate between the latest reported year, 2025, and the year three periods earlier, 2022, using aggregate revenue for all companies filing under that code in the DBD registry as of 17 July 2026. Industry names for each code are drawn from Thailand's official TSIC 2009 classification standard, cited alongside the code number. The ranking includes only codes with at least 50 companies ever registered and latest year revenue above 1 billion baht, to keep the growth rate from being driven by a handful of tiny filers. Figures are aggregate totals across all filers in a code in a given year, not an average of individual company growth rates.
How we verified this
- 26201's revenue ratio from 2022 to 2025, 267,694,557,190.82 baht over 41,016,584,747.61 baht, equals 6.53. Taking that ratio to the power of one third and subtracting one gives 86.9 percent, matching the published 3 year CAGR.
- 46621's revenue ratio from 2022 to 2025, 3,525,379,852,542.88 baht over 673,010,207,468.50 baht, equals 5.24. Taking that ratio to the power of one third and subtracting one gives 73.7 percent, matching the published 3 year CAGR.
- 46621's 2025 revenue of 3,525,379,852,542.88 baht divided by national total revenue of 80,146,498,562,463.62 baht equals 4.4 percent, computed independently of the published growth fields.
- 26201's active count of 259 divided by its entity count of 763 equals 33.9 percent, matching the published survival rate.
- The materiality filtered pool of 741 codes divided by the full set of 986 codes with revenue in both 2022 and 2025 equals 75.2 percent, confirming most but not all codes with comparable revenue history clear the ranking's minimum size bar.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- National Statistical Office of Thailand. (2009). Thailand Standard Industrial Classification: TSIC 2009. https://www.thai-german-cooperation.info/download/20140522_eedp_04_tsic.pdf
- Krungsri Research. (2026). Industry Outlook 2026 to 2028: Electronics Industry. Bank of Ayudhya. https://www.krungsri.com/en/research/industry/industry-outlook/hi-tech-industries/electronics/io/electronics-2026-2028
Frequently asked questions
Which Thai industry code grew revenue fastest?
TSIC code 26201, manufacture and assembly of electronic computers, grew revenue at an 86.9 percent compound annual rate from 2022 to 2025, ahead of every other five digit code with a meaningful revenue base.
Where do the industry names for each code come from?
Names come from Thailand's official TSIC 2009 classification standard published by the National Statistical Office, matched to the five digit code and cited alongside the revenue figures for that code.
Is metal ore wholesaling as profitable as it is fast growing?
No. TSIC code 46621 runs a net margin of essentially zero at 0.003 percent. Its revenue is enormous, 3.53 trillion baht in 2025, but almost none of it converts to profit, consistent with a high volume trading business.
How many industry codes were included in this ranking?
The ranking draws from 986 five digit codes with comparable revenue in both 2022 and 2025, of which 741 clear a size bar of at least 50 registered companies and 1 billion baht of latest year revenue. Smaller codes are excluded so a tiny base cannot produce a misleading growth rate.
Cite this page
Chatpong L. (2026). Thailand's Fastest-Growing Industry Codes by Revenue, 2026. Max Data Insights. https://maxdatathailand.com/insights/fastest-growing-named-thai-industry-codes-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.
Related insights
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.