The fire at Talad Nam Boran floating market located by the Klong Samrong canal happened at about 9.30 p.m. after a cooking gas tank leaked and exploded.
The wooden bridge which was built parallel to the canal caught fire and quickly raged to the wooden row shop houses.
Residents started to flee from their homes when the fire spread quickly as strong wind help to fan it.
More than 20 fire engines rushed to the scene but could not get access to the market due to its narrow entrance.
Firemen have to drag their fire hoses along the small lanes to get to the fire.
The fire raged for an hour before it could be kept under control.
More than 50 wooden houses were gutted.
Police were investigating the cause but initially they suspected gas leak from a cooking gas tank and explosion was the cause.