E-hailing services may recover in next 2-3 years, say experts

China's e-hailing market is poised to recover and grow steadily over the next two to three years, despite the downturn caused by safety concerns and stricter regulations, industry insiders said.

"The e-hailing market should enter into a healthy and stable period between 2019 and 2021 driven mainly by robust demand as consumers still take e-hailing as a cheap and convenient means of transportation," said Raymond Tsang, a partner at management and consulting firm Bain& Co.

It is forecast that the country's e-hailing market will grow at an annual compound rate of 10 to 15 percent in 2021, higher than the forecast of less than 5 percent year-on-year.