Photon energy upconversion, i.e. the conversion of several low-energy photons to a photon of higher energy, offers significant potential for nano-optoelectronics and nanophotonics applications. The primary challenge is to achieve high upconversion efficiency and a broad device performance range, enabling effective upconversion even at low excitation power. This study demonstrates that core/shell semiconductor nanowire heterostructures can exhibit upconversion efficiencies exceeding what was previously reported for semiconductor nanostructures even at a low excitation power of 100 mW/cm2, by a two-photon absorption process through conduction band states of the narrow-bandgap nanowire shell region. By engineering the electric-field distribution of the excitation light inside the NWs, upconversion efficiency can be further improved by eight times. This work showcases the effectiveness of the proposed approach in achieving efficient photon upconversion using core/shell NW heterostructures, resulting in some of the highest upconversion efficiencies reported in semiconductor nanostructures. Additionally, it offers design guidelines for enhancing energy upconversion efficiency.