Machine maintenance can be both time consuming and costly. How can a competitive edge be maintained while generating a high return on investment (ROI)? A cursory glance at technology advances and administrative strategies targeted at reducing maintenance and machinery downtime is provided below.
The global market for maintenance, repair, and operations is expected to be valued $701.3 billion by 2026. This tremendous expenditure is the result of several enterprises operating in industrial environments. Worn-out parts and components are a common cause of unplanned downtime. Unscheduled equipment downtime is also caused by mechanical failure, operator error, a lack of time for periodic maintenance, and poor design, according to maintenance professionals.
Maintenance management is a demanding profession. Standard equipment’s longevity and performance can be increased by using the right tools for the job, incorporating new technologies, and upgrading to low- to no-maintenance components.
Please read the attached infographic for more information on industrial maintenance demands and solutions.