Cutting Maintenance Costs And Reducing Downtime In Industrial Equipment

Keeping industrial machinery up and running can be an expensive challenge. However, smart strategies and emerging technologies are helping businesses reduce costs, minimise downtime, and improve overall efficiency. 

If you are running a manufacturing business, you will know how expensive it can get. The rise in material cost, inefficient workflow, and unexpected downtime can take a huge part of your profit. However, you can try industrial equipment cost cutting, starting with small strategic changes. 

You can reduce costs by making small changes, eliminating inefficiencies, waste, and making things run smoothly. Let’s take a closer look at how operations can cut maintenance expenses while maximising performance and ROI.

Why Downtime Remains Costly

The global maintenance, repair, and operations (MRO) market is expected to climb to $701.3 billion by 2026. A major portion of these costs stems from unplanned equipment failures. 

Common culprits include ageing machinery, mechanical issues, operator mistakes, and neglected maintenance. In many cases, inadequate time or resources for routine service adds to the problem, leading to system breakdowns that impact productivity and profit margins.

Industrial Equipment Cost Cutting: Things You Can Try

You can start with the basics for industrial equipment cost cutting. When the equipment is not maintained regularly and efficiently, it becomes less effective and often fails to work. This leads to significant downtime and reduced production output as well.

Smarter Equipment Choices

Investing in low-maintenance components is one way to lessen the service burden. For example, ultrasonic clamp-on meters are used in water distribution and similar industries because they contain no moving parts—making them virtually maintenance-free. This kind of technology helps companies reduce the frequency and cost of upkeep over time.

The Role of Preventive Maintenance

Another widely adopted strategy is preventive maintenance (PM), which focuses on scheduled upkeep to catch issues early. As of 2020, roughly 76% of manufacturing companies worldwide were prioritising PM. 

When done consistently, it helps extend equipment lifespan, limit breakdowns, and retain asset value. While it does increase ownership costs slightly, the long-term savings and reliability often outweigh the investment.

Preventive maintenance involves scheduled, regular maintenance to prevent failures before they occur. This prevents unexpected breakdowns, which can cost a lot for repair and cause production downtime. 

Predictive Maintenance: A Data-Driven Alternative

Predictive maintenance (PdM) takes things a step further. Rather than sticking to a rigid schedule, PdM relies on real-time data and analytics to determine exactly when maintenance is needed. 

About 41% of manufacturers have implemented PdM tools, which often use sensors and AI to monitor equipment performance. The U.S. Department of Energy estimates PdM can lower maintenance costs by 8% to 12% compared to traditional PM approaches.

With the global predictive maintenance market expected to reach $23.5 billion by 2024, it’s becoming a key focus area for companies looking to stay ahead of unexpected failures and streamline maintenance budgets.

Use High-Quality Replacement Equipment

If you are trying strategies for industrial equipment cost cutting, you need to take care of the quality of the replacement parts you are using. 

You might think it would be cost-effective to choose cheaper, lower-quality parts, but it can cause you more expensive problems. It might seem costly, but there are various benefits of using high-quality parts. 

These parts are more durable and reliable, and offer an operational lifespan. A sudden increase in the maintenance cost can be a sign that you are using low-quality parts. Find a reliable supplier to get all the genuine parts.

Train Your Employees

If you are thinking of reducing industrial equipment cost curing, you also need to think about the people who are managing this equipment. When you have well-trained staff, they will be able to use the equipment and machinery efficiently and correctly.

Moreover, this will reduce the chances of malfunctions or breakdowns, which can otherwise lead to downtime and repairs. Training helps with the implementation of cost management strategies and ensures that everyone is using the machinery properly.

Proper training with the knowledge and skills to perform the tasks efficiently can reduce the chance of equipment failure because of overuse or misuse. When an employee is trained properly, they will be able to identify the issues before they become too big and costly.

Use CMMS Software

Using a Computerised Maintenance Management System (CMMS) is one of the most effective ways to reduce maintenance costs. This software can manage various tasks which would otherwise be labour-intensive and cause a lot of errors.

Moreover, it can reduce the administrative workload and boost efficiency. It can provide you with an instant view of the maintenance operations, conduct risk assessment, provide you with safety instructions and reduce the workload in periodic audits.

One of the major benefits of using a CMMS is that it can track maintenance work in the work order management. Additionally, you can also use CMMS for scheduling routine tasks for management, and it acts as a calendar that sends out reminders to the staff appropriately.

This is also a mobile-friendly software, allowing the technicians to work from anywhere, get notifications for new orders and increase the wrench-on time. This will allow efficient operations and lower the overall maintenance cost. 

Building a More Reliable Operation

Maintenance doesn’t have to be a drag on profitability. By selecting durable, low-maintenance equipment, leveraging real-time analytics, and adopting strategic maintenance routines, organisations can reduce costly disruptions and extend the useful life of their machines. 

Industrial equipment cost cutting combines tech upgrades with operational best practices, leading to fewer breakdowns and stronger returns.

For further information on industrial maintenance demands and ways to address them, please see the accompanying resource from Emerson, providers of clamp on ultrasonic flow meters.