When will demand for technical services in Building Efficiency recover?
Due to the economic slowdown and significant pressure on the commercial real estate market, building owners and businesses continue to defer maintenance on their HVAC equipment, creating a pent-up demand for Johnson Controls services. The level of the service deferrals is not yet recovering, but it’s not getting worse. Maintenance on HVAC equipment can only be deferred for so long. The equipment could fail, significantly disrupting the operations of the building and creating a need for emergency service from Johnson Controls. In addition, equipment that is not maintained can result in higher energy costs for the customer. Ultimately, however, as the economy gradually recovers, our customers’ capital budgets will be restored, allowing for the resumption of normal scheduled maintenance.
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