Industrial machinery maintenance poses significant challenges in terms of both costs and downtime. As the global MRO market is set to reach $701.3 billion by 2026, businesses must adopt advanced strategies to minimize these expenses and enhance their ROI.
Aging equipment, mechanical failures, and operator errors are the primary contributors to unplanned downtime. One effective solution is the integration of low-maintenance components like ultrasonic clamp-on meters, which reduce the need for routine servicing due to their lack of moving parts.
Preventive maintenance (PM), a widely used method, helps companies avoid unplanned downtime by scheduling regular maintenance checks. In 2020, 76% of manufacturing firms adopted PM, recognizing its ability to extend equipment life. However, the increased cost of ownership must be factored in, varying by the type of machinery.
Predictive maintenance (PdM) offers an innovative, data-driven solution. Utilizing sensors and analytics, PdM monitors equipment health in real-time, predicting when maintenance is necessary. With 41% of companies employing PdM, the method is projected to save 8% to 12% in maintenance costs.
By adopting these strategies, businesses can optimize their maintenance practices, reduce costs, and significantly improve equipment reliability. To learn more about how different maintenance strategies and technologies such as ultrasonic flow meters are contributing to improved uptime in machinery, continue reading on to the resource supported alongside this post.