Just comparing the 2014 7.2 FX to the 2015 7.2 FX, what Trek has done here for the 2015 model is downgrade the bike one step in rear derailleur(from Alivio to Acera) and has downgraded the frame from Alpha Gold Aluminium to Alpha Silver Aluminium.

Perhaps the difference will be hard to tell in actual riding, but looking at those differences on paper, they are very disappointing downgrades, even allowing for the lower price.

The 2015 model does come with a better setup for integrating Speed & Cadence sensors if you want to go with Trek's Bontrager models, but that is probably not that big an issue for most people.

Now comparing both the Trek 2015 & 2014 7.2FX models to the 2015 Giant Escape 2, what I am about to say of course only applies from looking at the spec sheet, and it might be a case of the lesser spec'd bike feels better to ride to you, for all we know.

All 3 bikes have the same gear shifters, front derailleur & brakes.

The Trek Bikes have Shimano Altus Brake Levers, vs the Tektro Brake Levers on the Giant.

I doubt there would be a world of difference between these brake levers, but I'd probably give the edge to the Shimano Altus brake levers here.

In respect of the crankset, the Trek's come with Shimano Altus M131 cranks and the Giant comes with the SR Suntour NEX, both have a triple setup of 48/38/28. I'm sure both cranksets will do the job, but it might come down to whether one feels more comfortable with Shimano gear, as they have such a good reputation in the industry.

Rear derailleur - This is probably the biggest difference between the bikes on paper and one of the specs I am always most concerned with, as they all use Shimano rear derailleurs(r-d), but of different levels.

The Giant 2 comes with an Altus r-d, and the next model up in Shimano's r-d line is the Acera, which is on the 2015 Trek 7.2 FX, then the next model after the Acera, is the Alivio, which is on the 2014 Trek 7.2 FX.

Handlebars - I'm not sure if there is much difference in real life here, but the connection width in the middle of the handlebars of the Giant 2 is 31.8mm, whereas for the Treks it is 25.4mm. Most, if not all high end hybrids come with a connection width of 31.8mm.

As for the differences in frame material, we are pretty much only talking about weight differences here, not a concern about a frame braking due to lesser quality materials.

So the difference between the Alpha Gold Aluminium & the Alpha Silver Aluminium, will only be about weight and I have no idea what that difference is.

Hard to compare the grades of Aluminium one manufacturer uses against another.

For all we know, Trek's Alpha Gold Aluminium might be the same as Giant's ALUXX, or it might be the same as their ALUXX SL, or it might be better than both.

Anyway, ignoring pricing and just going on paper specs, the bikes appear to me to stack up as :

1. 2014 Trek 7.2 FX
2. 2015 Trek 7.2 FX
3. 2015 Giant Escape 2

However all 3 would still be good bikes, and you might find that after a test ride, the Giant feels best to you.