Effective maintenance of industrial machinery is critical for reducing downtime and managing operational costs. With the global MRO market forecast to reach $701.3 billion by 2026, businesses must implement strategies to remain competitive and ensure positive ROI. Below is a look at approaches to optimize maintenance practices and reduce expenses.
The leading causes of unplanned downtime include aging equipment, mechanical breakdowns, and operator errors. One key solution is the use of low-maintenance technologies like ultrasonic clamp-on meters, which eliminate moving parts and reduce the need for frequent servicing.
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Preventive maintenance (PM) is a proven strategy for reducing downtime by scheduling repairs before they are needed. In 2020, 76% of manufacturers used PM, allowing them to avoid disruptions and extend the lifespan of machinery. However, this approach can add to the cost of ownership, depending on the equipment.
Predictive maintenance (PdM) represents a more advanced, data-driven solution. By using sensors and AI to monitor equipment in real-time, PdM can predict when maintenance is necessary, preventing unnecessary repairs. Currently used by 41% of manufacturing companies, PdM is highly cost-effective, saving up to 12% compared to PM.
Reducing-Downtime-in-Industrial-MachineryBy leveraging these modern maintenance methods, organizations can significantly reduce downtime, improve equipment reliability, and lower overall costs. For more information on how these advanced strategies are improving organizational output, please see the infographic provided by Emerson.
