Mechanical equipment is a key component of mechanical equipment, and its working condition is directly related to the overall performance of mechanical equipment. Accurate evaluation and prediction of the performance degradation trend of mechanical equipment is of great significance to ensure the reliability and safety of the mechanical equipment system. Based on the data of typical faulty equipment, this paper analyzes the energy characteristic parameters of mechanical equipment under different types and degrees of failure in the time domain. Using amplitude spectrum analysis, Hilbert envelope demodulation and wavelet packet decomposition method, and other vibration signal processing methods, preliminary extraction of multiple statistical feature parameters are given. Secondly, in view of the irrelevant and redundant components of multiple statistical parameters, a new method for extracting fault features of mechanical equipment based on variance value and principal component analysis is proposed. This method can effectively classify the fault status of mechanical equipment. The effectiveness of the method is verified by actual equipment signals. After that, the value extracted from the vibration signal of the double-row roller equipment is used as the degradation feature. In order to reduce the influence of irregular characteristics in the vibration signal and simplify the complexity of the vibration signal, the wavelet transform and the support vector machine model are combined, according to the degradation after decomposition. The 95% confidence interval of the predicted value is also given. The SVM model is established based on data characteristics, and single-step and multistep prediction of equipment degradation trends are carried out. The prediction result shows that, according to the mapping position formula, the distribution of equipment degradation prediction points is obtained, and a 95% confidence interval based on the distribution of the prediction points is given. Finally, on the basis of completing feature extraction, this paper applies an unsupervised feature selection method. The sensitive characteristics of life prediction and the prediction results of a single SVM model and a neural network model are compared and analyzed at the same time.