It has predicted that the value of exports over the next five years will rise particularly across generators (54% increase), road vehicles (59% increases), electrical machinery (46% increase) and telecoms equipment (40%).
Called 'Beyond the City', the study analysed the performance of the UK economy and its local economies beyond London, with a focus on the manufacturing, energy and environment, professional services, and digital and creative sectors.
The research also found that between 2010 and 2015 Wales achieved manufacturing growth of 18,000 jobs, making it one of the best performing regions in the UK. This was driven by a particular strength in aerospace and automotive, as well as new sectors such as optoelectronics.
The study was launched at the London Stock Exchange by former Tesco ceo Sir Terry Leahy and business minister Anna Soubry to mark 'one year out' from the second International Festival for Business (IFB).
Max Steinberg (pictured), IFB chair, said: "It is fantastic to see that Britain's manufacturers are expected to benefit from rising productivity and exports over the next five years. At the same time we are likely to see a move towards advanced high value manufacturing, away from the more traditional labour-intensive industries."
Manufacturers' organisation the EEF has welcomed the findings, saying they make a 'powerful case' for Chancellor George Osborne to help solve Britain's productivity crisis by targeting Government support towards encouraging growth in high value manufacturing.
Paul Raynes, director of policy at EEF, said: "British manufacturers are shown to be more productive than other parts of the economy and, as such, hold the key to improving the UK's productivity puzzle. This report emphasises just why the Chancellor must focus his attention on areas that will deliver the biggest wins and prioritise support for sectors, such as manufacturing, that have a strong track record on productivity improvements."
He added: "Manufacturing is projected to deliver 40% of Britain's productivity gains over the next decade. In the past five years output per hour in manufacturing has grown four times faster, on average, than that across the whole economy...
"We have a strong track record to build upon, which is why Government and business must work together to close the productivity gap and why investment in skills, science, research and infrastructure will be key."
The IFB will be held in Liverpool between 13 June and 1 July 2016. The festival is a series of events supported by government that designed to bring together thousands of businesses for three weeks of networking and deal-making.
