Support vector machine (SVM) is a typical machine learning algorithm based on statistical VC dimension theory and structural risk minimization principle. Due to its effective abilities in generalization and prediction of small sample size, high-dimension, and nonlinear problem, SVM has been applied in equipment failure prediction area. In this paper, the recent researches of SVM application in equipment failure prediction are introduced. Furthermore, the problems and challenges of SVM are analyzed. Finally, the future possible directions and applications of SVM algorithm in equipment failure prediction are concluded.