Given the constant demand for heavier, longer, faster, and more efficient rail freight vehicles, onboard fault detection systems appear as a good approach for enhanced railway asset exploitation. Real-time condition monitoring reduces inefficient preventive and reactive maintenance actions, decreases waste from replacing parts that still have a useful life, and improves availability and safety by real-time rolling stock diagnosis. There have been considerable advances in wayside monitoring applications, but these cannot achieve real-time continuous monitoring. With the price reduction and miniaturization trends of electronic devices, the cost of deploying wireless sensor networks onboard freight trains continues to become more feasible and accessible. On the other hand, the lack of onboard electric power availability on freight wagons appears as the major limitation for the implementation of these technologies. This paper reviews recent onboard condition monitoring sensors, systems, methods and techniques, aiming to define the present state of the art and its potential application for freight wagons without onboard electric power.