Asset maintenance in discreet and process manufacturing is a key priority – one that can have a multiplying effect on plant reliability and bottom line. For industries where even a single hour of production downtime due to asset unavailability can translate into millions of dollars of losses, strategic investments are made to make maintenance more effective. Maintenance management has thus, evolved into a complex field with application of varied digital and analytics solutions to improve efficacy while reducing costs.
Predictive maintenance is a result of this pragmatic evolution and has helped manufacturers save billions of dollars through increased Remaining Useful Life (RUL) of assets and minimized production downtime. By 2025, the predictive maintenance market is expected to grow to USD 25 billion, creating unparalleled value across global industrial value-chains. This article will cover what predictive maintenance is, how it has evolved to suit industry needs, and how it applies in various manufacturing setups.
What is Predictive Maintenance(PdM)?
Predictive maintenance (PdM) is a maintenance approach which entails use of cloud-enabled technologies to monitor diverse assets involved in production and estimate the maintenance needs on the basis of asset condition and detected anomalies. Condition Based Monitoring (CBM) is the underlying concept, which is used to monitor industrial assets in real time. Technologies such as infrared thermography, vibration analysis, oil analysis, and acoustic monitoring are deployed to collect equipment condition data.
The data thus collected is analysed to detect any deviation in asset performance or irregularities which are otherwise impossible to detect without sophisticated equipment. But predictive maintenance doesn’t just stop at detection of performance issues. With the help of edge diagnostics and predictive analytics, the underlying causes behind poor asset performance are determined. Predictive maintenance solutions can also forecast the time when a monitored equipment will breakdown, if corrective maintenance measures are not taken.
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