Medium Firms per Large Firm by Thai Industry Sector (2026)
In short
Thailand has 2.81 medium companies for every large company across the 18 sectors studied, as of 17 July 2026. Financial and insurance is the thinnest rung at 1.37 medium firms per large one. Other services is the thickest at 5.94. Arts and entertainment follows at 5.39. Where the ratio is low, a mid-sized firm faces a top tier almost as crowded as its own.
How many medium firms stand behind each large one?
Across the 18 sectors with meaningful counts, Thailand has 38,941 medium companies and 13,875 large ones (DBD, 2026). That works out to 2.81 medium firms for every large firm. The average hides a wide spread. Other services has 5.94 and arts, entertainment and recreation has 5.39. Financial and insurance has just 1.37, and electricity and gas has 1.38. Manufacturing sits at 1.72. Construction runs at 4.83, so its middle tier is nearly five times its top tier.
Medium companies per large company by sector
- Other services6
- Arts, entertainment and recreation5
- Construction5
- Administrative and support5
- Professional, scientific and technical4
- Education4
- Agriculture4
- Transportation and storage4
- Accommodation and food service4
- Water and waste4
- Wholesale and retail trade3
- Real estate3
- Mining and quarrying3
- Information and communication3
- Human health and social work2
- Manufacturing2
- Electricity and gas1
- Financial and insurance1
Figures in medium firms per large firm.
A high bar means a thick middle tier under a small top. A low bar means the top tier is nearly as crowded as the middle.
Medium and large company counts by sector
| Industry section | Medium companies | Large companies | Medium per large |
|---|---|---|---|
| Other services | 95 | 16 | 6 |
| Arts, entertainment and recreation | 167 | 31 | 5 |
| Construction | 2,712 | 562 | 5 |
| Administrative and support | 1,116 | 240 | 5 |
| Professional, scientific and technical | 1,106 | 253 | 4 |
| Education | 78 | 18 | 4 |
| Agriculture | 534 | 128 | 4 |
| Transportation and storage | 1,754 | 448 | 4 |
| Accommodation and food service | 989 | 260 | 4 |
| Water and waste | 182 | 49 | 4 |
| Wholesale and retail trade | 18,789 | 5,590 | 3 |
| Real estate | 1,207 | 386 | 3 |
| Mining and quarrying | 170 | 55 | 3 |
| Information and communication | 592 | 196 | 3 |
| Human health and social work | 318 | 178 | 2 |
| Manufacturing | 8,109 | 4,718 | 2 |
| Electricity and gas | 264 | 191 | 1 |
| Financial and insurance | 759 | 556 | 1 |
Medium firms, large firms and the ratio between them, as of 17 Jul 2026.
Why the ladder matters
A low ratio does not mean a sector is unhealthy. It means the climb from medium to large is short, or that large firms arrived early and stayed. Finance and utilities may fit that pattern, since licences and capital needs can keep the top tier close to the middle. A high ratio tells a different story. Other services and arts have few large firms, so a medium company there can be the local leader. Founders choosing a sector, lenders sizing a mid-market book and policy teams designing growth support all face a different ladder in each one. Wholesale and retail deserves a separate note. It has 3.36 medium firms per large firm, yet it holds 18,789 medium firms, the biggest mid-market pool in the country. The ratio shows the shape of the ladder, and the counts show how many people stand on it.
Definitions
- Medium company
- A registered company in the registry's medium size band, above small and below large.
- Large company
- A registered company in the registry's top size band.
- Medium per large ratio
- The number of medium companies divided by the number of large companies in the same sector.
- TSIC section
- One of the lettered top-level groups of the Thai Standard Industrial Classification, which follows the international ISIC letters.
Assumptions
- Size bands are taken as classified in the registry and are not re-derived.
- Sector assignment follows each company's registered 5-digit industry code.
- The 18 sectors sum to 38,941 medium and 13,875 large firms, slightly different from the national band counts because of registry refreshes and the excluded sections.
- Small sector counts, such as 16 large firms in other services, make those ratios sensitive to a few reclassifications.
Methodology
Counts come from the Department of Business Development registry as of 17 July 2026, aggregated from 5-digit TSIC codes up to their lettered industry section. Size bands are the registry's micro, small, medium and large classes. The ratio is medium companies divided by large companies in each section. Public administration, households and extraterritorial bodies are excluded because their counts are too small to give a stable ratio.
How we verified this
- Medium counts across the 18 listed sections sum to 38,941 and large counts sum to 13,875, and 38,941 divided by 13,875 equals 2.81.
- Financial and insurance: 759 divided by 556 equals 1.37, the lowest ratio.
- Other services: 95 divided by 16 equals 5.94, the highest ratio.
- Arts, entertainment and recreation: 167 divided by 31 equals 5.39.
- Construction: 2,712 divided by 562 equals 4.83. Manufacturing: 8,109 divided by 4,718 equals 1.72. Wholesale and retail: 18,789 divided by 5,590 equals 3.36.
- The registry refreshed after the 7 July 2026 constants, and the rows queried carry a 17 July 2026 date, so this page uses the newer counts.
References
- Department of Business Development. (2026). Registered juristic persons and size-band aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
Frequently asked questions
Which Thai sector has the fewest medium firms per large firm?
Financial and insurance, with 1.37 medium firms for every large firm, based on 759 medium and 556 large companies.
Which sector has the most medium firms per large firm?
Other services, with 5.94, followed by arts, entertainment and recreation at 5.39.
Does a higher ratio mean a healthier sector?
Not by itself. It shows how thick the middle tier is compared with the top tier. It says nothing about profit or survival.
Why are some sectors left out?
Public administration, households and extraterritorial bodies have one medium firm or none and no large firms, so a ratio is not meaningful.
Cite this page
Chatpong L. (2026). Medium Firms per Large Firm by Thai Industry Sector (2026). Max Data Insights. https://maxdatathailand.com/insights/how-many-medium-companies-stand-behind-each-large-one-in-thai-sectors-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.