Fault detection plays an important role in high cost and safety critical processes. Early detection of faults can help to avoid normal event progression. Fault detection can be accomplished through various means. Fault diagnosis consists of all actions taken for fault recognizing, fault locating and root cause identification. For networking, Ethernet is suitable to act as the backbone to connect multiple domains and also for interworking within domains. Ethernet is one of the most common high speed interfaces found in homes and offices and there are some automobiles where Ethernet is being used to transport a variety of high speed data. Hence we can enhance a real time data driven algorithm for industrial fault diagnosis and localization of an Ethernet based systems. This paper presents a detail review of various fault diagnosis techniques, recent trends and their implementation for particular applications. Ms. Pranita A. Raut | Dr. U. L. Bombale "Overview of Various Industrial Fault Diagnosis Methods" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-2 , February 2018, URL: https://www.ijtsrd.com/papers/ijtsrd7074.pdf