An apparatus and method for monitoring a reciprocating member of a reciprocating piston compressor is presented. The apparatus and method provide a means for measuring parameters of the reciprocating member, such as road load or cross-head temperature and the like, and wirelessly transmitting the data to a receiver. A mobile assembly is attached to a reciprocating member of the compressor, the mobile assembly having a sensor assembly, a wireless transmitter and a power generation assembly. The sensor assembly measures a parameter of the reciprocating member and generates a representative sensor signal. The wireless transmitter wirelessly transmits a corresponding data signal to a stationary assembly mounted nearby. The power assembly powers the transmitter and sensor assembly. The measured data is used, in conjunction with other measurements, such as a crankshaft encoder, to calculate the work performed by the compressor, the power used by the compressor and other information. The compressor utilization is then optimized based on the gathered information.