Maintaining industrial machinery is a significant financial burden that can also lead to extended downtime. To maintain competitiveness and ensure a favorable ROI, it’s essential to consider modern technologies and management strategies aimed at reducing maintenance needs.

The global maintenance, repair, and operations market is projected to hit $701.3 billion by 2026, with much of this cost associated with maintaining aging assets. Common causes of unplanned downtime include mechanical failures, operator mistakes, inadequate maintenance schedules, and flawed design.

One way to reduce maintenance is by using components that require little to no upkeep, such as ultrasonic clamp-on meters. These devices, used in various industries like water distribution, are designed to be nearly maintenance-free due to the absence of moving parts.

Implementing a comprehensive preventive maintenance (PM) plan is another strategy to boost ROI. In 2020, 76% of global manufacturing companies focused on PM, which involves scheduled checks to detect issues before they cause operational interruptions. Though PM can enhance equipment longevity and resale value, it also adds to the cost of ownership and varies depending on the machinery.

Predictive maintenance (PdM) is an emerging approach that utilizes data analytics and AI to foresee potential equipment issues. While currently adopted by 41% of manufacturers and initially more costly, PdM is highly cost-effective. The U.S. Department of Energy estimates that PdM can save 8% to 12% compared to preventive maintenance, with the market expected to grow to $23.5 billion by 2024.

PdM works by using sensors and software to monitor the condition of in-service equipment, predicting when maintenance will be needed. This method allows for maintenance only when necessary, reducing costs compared to routine maintenance.

Industrial maintenance management is complex, but by adopting the right tools and technologies, and opting for low-maintenance components, businesses can improve equipment longevity and performance.

Low- Or No-Maintenance Industrial Machinery was provided by Emerson