A shortage of skilled talent exists in the manufacturing industry, and the shortage is likely to become more severe in the coming years, according the Accenture 2014 Manufacturing Skills and Training Study conducted in collaboration with The Manufacturing Institute.

More than 75 percent of manufacturers reported a moderate to severe shortage of skilled resources and more than 80 percent of manufacturers reported a moderate to severe shortage in highly skilled manufacturing resources.

Nearly a quarter of survey respondents plan to grow U.S.-based manufacturing roles by over 10 percent in the next five years, signaling even more demand skilled workers.

U.S. manufacturers face reduced earnings of up to 11 percent annually due to increased production costs and revenue losses resulting from skills shortages, according to the report.

The study includes survey responses from more than 300 executives from a diverse range of U.S. manufacturing companies.