Latin America Artificial Lift Market Set to Expand at a Staggering 4.3% CAGR, Reaching USD 1,208.32 million by 2032 | PMR

The global Latin America artificial lift market size is projected to grow from USD 731.20 million in 2022 to USD 1,208.32 million by 2032, at a CAGR of 4.3%, according to a new report by Polaris Market Research. Artificial lift is a procedure utilized to lower the producing bottom hole pressure (BHP) on the configuration to acquire an elevated production rate from the well. This can be executed with an affirmative expulsion downhole pump, such as a beam pump or a progressive cavity pump (PCP), to lessen the unconfined pressure at the pump input.

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