Maintaining industrial equipment is a critical but cost-intensive challenge. Unexpected machinery failures can result in significant operational delays and financial losses. To remain competitive, businesses must explore cost-saving maintenance solutions that reduce downtime and extend the lifespan of assets.
By 2026, the global MRO market is estimated to reach $701.3 billion. The primary causes of unplanned downtime include aging machinery, mechanical breakdowns, operator mistakes, and ineffective maintenance schedules. Addressing these challenges through strategic maintenance planning and innovative technology can significantly reduce costs.
One approach is utilizing low-maintenance components that require minimal servicing. For example, ultrasonic clamp-on meters have no moving parts, eliminating wear and reducing repair needs—resulting in long-term cost savings.
Another essential strategy is preventive maintenance (PM), which involves scheduled servicing to identify and address potential failures before they escalate. A majority of manufacturing companies prioritize PM to enhance reliability and reduce downtime. While effective, this method increases operational expenses and varies in suitability across industries.
A more advanced option is predictive maintenance (PdM), an AI-driven approach that monitors equipment in real time to determine when servicing is necessary. Currently utilized by 41% of manufacturers, PdM is 8% to 12% more cost-effective than preventive maintenance, according to the U.S. Department of Energy.
PdM eliminates unnecessary maintenance while ensuring timely repairs, reducing unexpected breakdowns and lowering long-term costs.
To maximize efficiency, minimize downtime, and cut maintenance expenses, businesses should integrate predictive analytics, preventive strategies, and advanced low-maintenance technologies. These solutions enhance productivity, improve ROI, and extend the life of industrial assets.
For more expert insights on industrial maintenance best practices, check out the accompanying infographic courtesy of Emerson.
