Top Firm in Every Thai Industry Code Earns 32% of Revenue (2026)
In short
The single largest company in each 5-digit industry code earns about 32 percent of all Thai corporate revenue, as of 17 July 2026. That is 25.65 trillion baht out of 80.15 trillion, earned by just 1,199 distinct firms. Only 36 of those leaders book more than 100 billion baht, and they alone hold 23.1 percent of the national total. The typical leader earns a modest 1.24 billion baht.
What share of Thai revenue goes to the top firm in each industry code?
About 32 percent. Thailand's registry assigns every company to a 5-digit industry code, and 1,200 of the 1,228 codes name a largest firm (DBD, 2026). Those 1,200 slots belong to 1,199 distinct companies, because one firm leads two codes. Their combined revenue is 25.65 trillion baht, which is 32.0 percent of the 80.15 trillion baht national total. Counted once per code instead of once per firm, the figure rises to 25.90 trillion baht, or 32.3 percent. Either way, roughly one baht in every three flows to a code leader. The registry's own concentration columns, HHI and CR5, are empty, so this firm-level measure is the clearest concentration read available.
National revenue captured by code leaders, grouped by leader size
- 100 billion baht or more, 36 codes23
- 10 to under 100 billion, 186 codes7
- 1 to under 10 billion, 420 codes2
- Under 1 billion, 558 codes0
Figures in percent of national revenue.
The 36 largest leaders hold nearly three quarters of all leader revenue. The 558 smallest hold almost none.
A few giants carry the number
The 32 percent is not spread evenly. Just 36 code leaders each earn 100 billion baht or more, and together they take 18.52 trillion baht. That is 23.1 percent of national revenue and 71.5 percent of everything the 1,200 leaders earn. At the other end, 558 leaders earn under 1 billion baht apiece and collectively reach only 0.12 trillion baht. The median leader sits at 1.24 billion baht. So most codes have a modest champion, while a thin top tier of giants pulls the total up. Wholesale and retail trade alone supplies 15.62 trillion baht of leader revenue, and manufacturing adds 7.22 trillion. Together the two sections account for 88 percent of it.
How much of each section's revenue goes to its code leaders
| Industry section | Codes with a leader | Leader revenue, trillion baht | Section revenue, trillion baht | Leader share |
|---|---|---|---|---|
| Information and communication | 64 | 0.58 | 1.33 | 43.9% |
| Wholesale and retail trade | 198 | 15.62 | 38.74 | 40.3% |
| Mining and quarrying | 21 | 0.15 | 0.45 | 33.6% |
| Manufacturing | 414 | 7.22 | 25.13 | 28.7% |
| Arts and entertainment | 23 | 0.04 | 0.14 | 27.6% |
| Agriculture | 103 | 0.13 | 0.49 | 25.8% |
| Transportation and storage | 62 | 0.56 | 2.15 | 25.8% |
| Administrative and support | 52 | 0.28 | 1.11 | 25.3% |
| Financial and insurance | 46 | 0.67 | 3.30 | 20.4% |
| Other service activities | 35 | 0.02 | 0.09 | 19.2% |
| Professional, scientific and technical | 33 | 0.17 | 1.08 | 16.1% |
| Education | 27 | 0.01 | 0.06 | 15.3% |
| Human health and social work | 23 | 0.05 | 0.52 | 9.6% |
| Construction | 32 | 0.17 | 2.33 | 7.2% |
| Accommodation and food service | 22 | 0.05 | 0.94 | 5.3% |
Leader revenue versus total section revenue for sections with at least 20 named code leaders, in trillion baht, as of 17 Jul 2026.
Why this matters
Competition policy usually reaches for HHI, but in Thailand's registry that tool is blank. A leader-share count fills that gap. Information and communication is the tightest large section at 43.9 percent, and wholesale and retail follows at 40.3 percent. Construction and accommodation sit below 8 percent, which means no single builder or hotel group dominates its own code. For a buyer, a lender or a new entrant, that spread is a map. Where leaders hold two fifths of a sector, scale is the entry ticket. Where they hold a few percent, the field is open. One caution applies. A leader's revenue is a size signal, not a verdict on market power, since a code can be broad and its leader can sell across many niches.
Definitions
- Code leader
- The company with the highest filed revenue within a single five-digit TSIC industry code.
- TSIC
- Thailand Standard Industrial Classification, the national industry code system based on the international ISIC.
- HHI
- Herfindahl-Hirschman Index, a concentration score built from the squared market shares of all firms in a market.
- CR5
- The combined market share of the five largest firms in a market.
- Aggregate
- A total summed across many companies rather than an average of individual firms.
Assumptions
- Only companies with a filed financial statement are counted, so revenue of non-filers is missing.
- 28 of 1,228 codes have no named leader and are excluded from leader totals.
- Each firm is placed in one code, so a diversified leader's whole revenue sits in its registered code.
- Leader revenue is a size measure and does not by itself show market power inside a narrowly defined market.
- Data computed 17 July 2026 is newer than the 2 July extract used on sister pages, so totals can differ slightly.
Methodology
Source: Department of Business Development registry aggregates, computed 17 July 2026 and refreshed since the 2 July extract. For each of 1,228 five-digit TSIC codes, the registry names the company with the highest filed revenue. 1,200 codes have a named leader. Leader revenue is summed two ways, once per code and once per distinct firm, and divided by national total revenue of 80.15 trillion baht from companies with a filed financial statement. Section shares divide leader revenue by section total revenue. Concentration columns such as HHI and CR5 are empty in the source, so no market share inside a code is estimated.
How we verified this
- Leader revenue summed per code: 25,904,232,908,356.84 divided by national revenue 80,146,498,562,463.62 equals 32.32 percent.
- Leader revenue summed per distinct firm: 25,653,408,004,129.84 divided by 80,146,498,562,463.62 equals 32.01 percent.
- Size bands sum to the total: 36 + 186 + 420 + 558 = 1,200 codes, and 18.519 + 5.719 + 1.548 + 0.117 = 25.904 trillion baht.
- Leaders above 100 billion baht: 18.519 trillion divided by 80.146 trillion is 23.11 percent, and divided by 25.904 trillion is 71.49 percent.
- Wholesale and retail 15.62 plus manufacturing 7.22 equals 22.84 trillion, which is 88.2 percent of 25.90 trillion.
- Section leader share recomputed from raw baht, for example information and communication 584.997 billion divided by 1,332.063 billion equals 43.9 percent.
- Table filter recomputed: every section with 20 or more named leaders is listed, including other service activities at 16.50 divided by 85.72 billion equals 19.2 percent and education at 9.47 divided by 62.00 billion equals 15.3 percent.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
Frequently asked questions
What share of Thai revenue do the top firms of all industry codes earn?
About 32 percent. The 1,199 distinct firms that lead a 5-digit code earned 25.65 trillion baht of 80.15 trillion baht, as of 17 July 2026.
Why not use HHI or CR5?
Those concentration columns are empty in the registry aggregates, so a firm-level leader share is the measure that can be computed reliably.
Why are there 1,200 codes but 1,199 firms?
One company is the largest firm in two different codes, so it is counted once in the distinct-firm total.
Which sector is most concentrated in its leaders?
Information and communication, where code leaders hold 43.9 percent of section revenue. Wholesale and retail follows at 40.3 percent.
Cite this page
Chatpong L. (2026). Top Firm in Every Thai Industry Code Earns 32% of Revenue (2026). Max Data Insights. https://maxdatathailand.com/insights/how-much-thai-revenue-do-the-top-firms-of-all-industry-codes-earn-2026
Data & corrections
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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.