Is this statement correct? The method that you are using to repair that equipment will work however another method would be more efficient.
You need to put commas on both sides of however. The......, however,......efficient.
Put a comma after "work"
I would say the equipment rather than that equipment, and put a comma after work.
no, it is not correctThe method that you are using to repair that piece of equipment will work; however, another method would probably be more efficient.