The gravel bike market is steadily expanding, representing a category of growth in the industry

Gravel bikes originated from gravel racing events in the United States and are also known as gravel-grinders. Since their inception, they have gained popularity among cyclists worldwide. Gravel bikes are highly versatile in terms of terrain; unlike specialized categories of bikes, they can handle a wide range of surfaces, from roads to off-road trails. They are representative of multi-purpose bike models. Their sturdy frames make them suitable for off-road riding, while their lightweight design is ideal for long-distance cycling. Due to their versatility, gravel bikes have become one of the primary choices for consumers when purchasing bicycles.

Robust Growth

Gravel bikes originated in the United States and have gradually expanded to Europe in recent years. Gravel bikes are currently quite popular in Europe and North America, with a particularly strong market growth in Belgium. In 2022, while sales of other types of bikes in Belgium experienced weak or even declining growth, gravel bike sales increased by 128.6% compared to the previous year, and E-gravel bike sales grew from 22 units in 2021 to 1404 units in 2022. Gravel bike sales have continued to grow from 2020 to 2022.

According to data from the NPD Group, as of March 2021, gravel bike sales grew by 96% year-on-year, accounting for 35% of the entire road bike category, second only to high-performance road bikes. Moots, a gravel bike manufacturer, stated, “This is one of the fastest-growing categories in the industry. Gravel bikes attract riders from both road and mountain biking. It’s a great middle ground for avoiding traffic congestion and going on adventures.” Due to the high demand for gravel bikes, Moots’ bikes are almost always sold out, and their inventory remains consistently low. Cariveau noted, “Over the past five years, our growth in the gravel bike market has been strong and steady, with gravel sales accounting for about 50% of our total sales.”

Today, gravel bikes have become one of the fastest-growing markets in the industry, with sales increasing by over 109% in the past three years. The number of riders participating in popular gravel races like Unbound in Emporia, Kansas, increased from 2600 in 2021 to 4000 in 2022.

Price Ranges

The performance of gravel bikes improves with increasing prices. In the gravel bike category, bikes priced below $1000 typically come with alloy frames and entry-level components, while bikes under $2000 may feature some higher-spec components. Mid-range products from well-known brands could cost between $2000 and $2800. The best value and performance for gravel bikes are typically found in the $2000 to $3000 price range, where bikes feature upgraded frames, wheels, and other components, resulting in noticeable differences in ride quality, versatility, handling, and weight.

The difference between carbon fiber and aluminum frames with similar equipment can be in the range of $400 to $800. The chart below shows the cheapest aluminum bikes (left dot), the cheapest carbon fiber bikes (right dot), and the similarly equipped aluminum bikes (center dot) in various company product lines.

Top-Selling Brands

Popular gravel bike brands include Specialized, Trek, Cannondale, and Giant. According to statistics from Theproscloset, the best-selling gravel bikes in 2022 were the Specialized Diverge, Trek Checkpoint, Cannondale Topstone, Giant Revolt, and Specialized Crux.

Specialized’s Diverge model leads in sales, with nearly twice the sales of the second-place Trek Checkpoint. The popularity of these two models, along with the third-ranked Cannondale Topstone, is due to their overall versatility.

Looking at past sales trends, it’s clear that the number of gravel cyclists has been steadily increasing, indicating a growing interest in road cycling, with nearly a 100% growth rate making gravel one of the popular categories in the bicycle market. In recent years, there has been an increasing demand for convenient urban transportation, leading to the popularity of “road” e-bike categories. Gravel bikes not only cover commuter needs but also cater to recreational demands, making them a rapidly developing category in the market. As a result, e-gravel bike models, as part of the electrification revolution, are gradually gaining traction in the market.

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