Thai Industry Codes Where One Firm Owns Nearly All Revenue 2026
In short
TSIC code 10411 carries 28 registered companies, and one of them, T S Oil Industry Company Limited, reports 99.99 percent of the code's total revenue, as of 17 July 2026. Only 3 of those 28 companies filed a financial statement, and just 4 remain active. This is not a one-off. Among 225 Thai industry codes carrying 20 to 99 registered companies each, 7 show one firm holding at least 95 percent of the code's revenue, and 2 clear 99 percent outright. A registry that lists two dozen names in a code can still be a market of one.
Which industry codes have dozens of companies but one firm earning nearly all the revenue?
TSIC code 10411 carries 28 registered companies. One of them, T S Oil Industry Company Limited, reports 99.99 percent of the code's total revenue, as of 17 July 2026 (DBD, 2026). Only 3 of those 28 companies filed a financial statement at all. Just 4 remain active, a 14.29 percent survival rate, meaning 24 of the 28 sit inactive on the registry. Zoom out and the pattern holds well beyond one code. Among Thailand's 225 industry codes that carry between 20 and 99 registered companies each, wide enough to look like open fields, 7 still show one firm holding at least 95 percent of the code's revenue. Two of those 7 clear 99 percent outright. A registry entry listing two dozen or more names in a code can still be a market that answers to one firm.
The 7 dozens-sized codes with a 95 percent or higher single-firm share
- TSIC 10411100
- TSIC 26800100
- TSIC 3822199
- TSIC 2630199
- TSIC 0162198
- TSIC 3313398
- TSIC 0893197
Figures in percent of code revenue held by the leading company.
Each code carries between 26 and 70 registered companies. TSIC 10411 and TSIC 26800 both clear 99 percent.
Dozens of companies, one operating firm
| TSIC code | Section | Companies registered | Companies active | Survival rate | Leading company | Revenue share |
|---|---|---|---|---|---|---|
| 10411 | C, manufacturing | 28 | 4 | 14.29% | T S Oil Industry Company Limited | 99.99% |
| 26800 | C, manufacturing | 70 | 4 | 5.71% | Western Digital (Thailand) Company Limited | 99.96% |
| 38221 | E, water and waste | 36 | 3 | 8.33% | Diamond (Rayong) Co., Ltd. | 98.92% |
| 26301 | C, manufacturing | 54 | 22 | 40.74% | Canon Hi-Tech (Thailand) Ltd. | 98.77% |
| 01621 | A, agriculture | 36 | 17 | 47.22% | Charden Pokphand Industry Company Limited | 97.66% |
| 33133 | C, manufacturing | 26 | 11 | 42.31% | Essilorluxottica Wholesale (Thailand) Ltd. | 97.58% |
| 08931 | B, mining and quarrying | 26 | 13 | 50.00% | Pimai Salt Company Limited | 96.71% |
Five digit TSIC codes with 20 to 99 registered companies where the leading company holds 95 percent or more of the code's revenue, as of 17 Jul 2026.
How rare is this inside the dozens-sized group?
The 225 codes analyzed here are not the tiny two or three company codes where one firm topping the list is close to automatic. Every one carries at least 20 registered companies, and every one has at least 2 companies with a filed financial statement, so a rival had every chance to show up in the numbers. Even so, the average top firm across all 225 codes already holds 48.56 percent of its code's revenue, close to half before any threshold is applied. Just 1 code lands below a 10 percent top-firm share, the only genuinely fragmented case in the whole group. 30 codes sit in the 10 to 25 percent band, ordinary competitive territory. 95 codes sit between 25 and 50 percent, where a leader is strong but not singular. 73 codes cross into 50 to 80 percent. 19 climb to 80 to 95 percent. 7 land above 95 percent, and inside that top group, TSIC 10411 and TSIC 26800 both push past 99 percent. Manufacturing supplies 4 of those 7 codes, 57.14 percent of the list, more than any other section.
Why this matters
A registry entry of 28 companies looks like a functioning field of competitors at a glance. TSIC 10411's own numbers say otherwise. 24 of those 28 companies are inactive, and the 3 that still file a financial statement are dwarfed by one. For a lender scoring credit risk by industry code, or a buyer scouting a market by company count, the headcount alone would suggest two dozen live players worth chasing. The revenue says there is effectively one seller in the room plus a scattering of dormant filings. The same test flags 6 more codes spread across manufacturing, water and waste, agriculture and mining, each one carrying dozens of registered names attached to a single working business. Company counts describe who registered. Revenue share describes who actually operates.
Definitions
- TSIC code
- Thailand's Standard Industrial Classification code. The five digit version is the narrowest level, one step below the 21 lettered broad sections such as manufacturing or agriculture.
- Dozens-sized code
- A working label used in this analysis for a five digit TSIC code carrying between 20 and 99 registered companies, a scale large enough to look competitive by headcount alone.
- Revenue share
- The leading company's reported revenue in a given TSIC code divided by the total reported revenue of every company with a filed financial statement in that code.
- Active company
- A registered company the DBD registry currently classifies as active rather than dissolved, suspended or otherwise inactive.
- Survival rate
- The share of a code's registered companies that remain active, computed as active companies divided by total registered companies.
- Filed financial statement
- A company's most recent submitted financial statement to the DBD. Companies that never filed are excluded from revenue and revenue-share calculations.
Assumptions
- Revenue share reflects only companies that filed a financial statement, so a code with many unfiled companies could look more or less concentrated than its true competitive picture.
- The 20 to 99 registered company range used to define a dozens-sized code is a threshold chosen for this analysis, not an official DBD category.
- Codes with fewer than 2 companies filing a financial statement, or with zero or negative total revenue, are excluded so a single filer cannot mechanically produce a 100 percent share.
- Narrow five digit code descriptions are not available in this dataset, so codes are referenced by number and parent section only, never by an assumed product or service description.
Methodology
Revenue share for TSIC code 10411 and the other codes in this analysis is each code's leading company revenue divided by the sum of reported revenue for every company with a filed financial statement in that code, drawn from the DBD registry as of 17 July 2026. Dozens-sized codes are defined here as five digit TSIC codes carrying between 20 and 99 registered companies, a range chosen to sit below high profile codes with thousands of registrants and above codes with only a handful. Of the 226 codes in that range, 225 have at least 2 companies with a filed financial statement and a positive total revenue figure and are used for the share calculation, and 1 is excluded for lacking enough filers. Codes with fewer than 2 filers are excluded throughout so a single filer cannot mechanically produce a 100 percent share. Narrow five digit code descriptions are not published in this dataset, so codes are identified by number and parent section letter only, never by an assumed product description.
How we verified this
- 216,275,262 divided by 216,286,670.13 equals 0.999947, or 99.99 percent, T S Oil Industry Company Limited's share of TSIC 10411 revenue.
- 4 divided by 28 equals 14.29 percent, TSIC 10411's survival rate, and 24 divided by 28 equals 85.71 percent inactive.
- 3 divided by 28 equals 10.71 percent, the share of TSIC 10411's registered companies that filed a financial statement.
- 7 divided by 225 equals 3.11 percent, the share of dozens-sized codes with a top firm holding 95 percent or more of revenue, and 2 divided by 225 equals 0.89 percent clearing 99 percent.
- The six distribution bands, 1, 30, 95, 73, 19 and 7, sum to 225, matching the analyzed code count.
- 4 divided by 7 equals 57.14 percent, manufacturing's share of the 7 codes with a 95 percent or higher single-firm share.
- 149,118,891,833 divided by 149,180,484,952.72 equals 0.999587, or 99.96 percent, Western Digital Thailand's share of TSIC 26800 revenue.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- OECD. (2025). The corporate sector: OECD capital market review of Thailand. OECD Publishing. https://www.oecd.org/en/publications/oecd-capital-market-review-of-thailand-2025_0a975590-en/full-report/the-corporate-sector_008c96e5.html
Frequently asked questions
What is TSIC code 10411?
TSIC code 10411 is a five digit Thailand Standard Industrial Classification code inside section C, manufacturing. It carries 28 registered companies, and this dataset does not publish narrow code descriptions, so it is identified by number only.
How many Thai industry codes show this pattern?
Among 225 industry codes carrying between 20 and 99 registered companies each, 7 have one firm holding at least 95 percent of the code's revenue, and 2 of those clear 99 percent, as of 17 July 2026.
Does a high company count mean real competition?
Not necessarily. TSIC 10411 has 28 registered companies, but 24 are inactive and one firm reports 99.99 percent of the code's revenue, so the headcount overstates how contested the market actually is.
Which company leads TSIC 10411?
T S Oil Industry Company Limited, which reports about 216.28 million baht of the code's roughly 216.29 million baht in total revenue.
Cite this page
Chatpong L. (2026). Thai Industry Codes Where One Firm Owns Nearly All Revenue 2026. Max Data Insights. https://maxdatathailand.com/insights/thai-industry-codes-where-one-firm-takes-nearly-all-the-revenue-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.