Effective maintenance management of industrial machinery is essential for minimizing costs and maximizing ROI. With the projected global maintenance, repair, and operations (MRO) market reaching $701.3 billion by 2026, it is clear that maintenance strategies must evolve. Below, we examine approaches to reduce downtime and lower expenses.

Unplanned downtime is primarily driven by aging equipment, mechanical failures, operator mistakes, and poor design. Addressing these issues starts with upgrading to low-maintenance components. For instance, ultrasonic clamp-on meters, commonly used in industries like water distribution, have no moving parts, reducing wear and the need for frequent maintenance.

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Preventive maintenance (PM) is another powerful tool. By 2020, 76% of manufacturers globally adopted PM to identify and fix potential problems before they lead to downtime. PM helps extend the life of equipment but adds to ownership costs, which vary based on machinery type.

Predictive maintenance (PdM) offers a data-driven alternative. With sensors and analytics, PdM can predict when maintenance is needed, allowing for repairs only when necessary. Currently utilized by 41% of manufacturing firms, PdM can reduce maintenance costs by up to 12%, with the market expected to reach $23.5 billion by 2024.

By adopting these modern technologies and maintenance strategies, organizations can achieve substantial reductions in downtime and improve their overall financial performance. For more information on how these advanced strategies are improving organizational output, please see the infographic provided by Emerson.