For the bogie traction motor bearings of rail vehicles under road transportation conditions, its vibration signal full-time domain data acquisition data volume, storage pressure, subsequent data analysis difficulties, and other problems. This study proposes a data compression acquisition and data reconstruction method for bearing vibration signals based on compressed sensing (CS), which can achieve compressed sampling, transmission, and storage of the original signal with fewer observations, and restore the original signal by combining reconstruction algorithms to achieve low error reconstruction. We study the effects of different sparse transform methods on signal sparsity, as well as the signal sparse performance based on different sparse transforms and the signal reconstruction effect of different reconstruction algorithms, and propose a sparse representation method based on the discrete Fourier transform (DFT) and the generalized orthogonal matching pursuit (gOMP) algorithm for CS. Through simulation and experimental comparison, it is concluded that the method can restore and reconstruct the original high-dimensional signal with small reconstruction error, and solve the problems of massive data, inconvenient transmission, and difficult data analysis in engineering.