WC-based hardmetals are employed widely as wear-resistant ceramic–metal composites for tools and wear parts. Raw materials supply, environmental concerns and some limitations of hardmetals have directed efforts toward development of alternative wear-resistant composites–cermets. We present a current state of knowledge in the field of ceramic-rich (≥50 vol%) cermets behavior in abrasion and erosion conditions, which are the dominant types of wear in many industrial applications. Distinction is made between two-body and three-body abrasion, solid-particle erosion, and slurry erosion. Cermets, in particular TiC-, Ti(C,N)- and Cr₃C₂-based composites and hardmetals, are compared for their abrasive and erosive wear performance and mechanism. The review enabled formulation of tribological conditions in which cermets may be comparable or have potential to outperform WC-Co hardmetals. Hardmetals, in general, outperform cermets in abrasion and solid-particle erosion at room and moderate temperatures. However, cermets demonstrate their potential mainly in severe conditions—at elevated temperatures and corrosive (oxidation, electrochemical corrosion) environments.