Our mission is to
make electric
mobility
accessible to
everyone.
Part I
The e-Bike Industry
The worldwide e-Bikes market reached a value of USD 19.05 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 14.5% from 2023 to 2030. Numerous governments are implementing initiatives to reduce carbon footprints by promoting electric vehicles, including bikes and bicycles. The growing awareness of the detrimental effects of fossil fuel-powered vehicles further drives this trend. Additionally, governments are prioritizing the construction of bicycle-friendly infrastructure, encouraging people to opt for bicycles as their preferred mode of transportation.
In 2022, the trekking segment accounted for the largest share of revenue at 49.5%. E-bikes are increasingly being utilized for recreational and trekking purposes. Moreover, the rising interest in performance-oriented adventures and the growing demand for leisure activities are projected to bolster market expansion. The cargo segment is forecasted to experience significant growth with a CAGR of 15.4% over the prediction period. This growth is attributed to the escalating demand for e-bikes to transport goods from one location to another. Furthermore, an uptick in logistics and freight operations in countries like India and China is anticipated to stimulate e-bike demand.
Fast Growing Market
The worldwide e-Bikes market reached a value of USD 19.05 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 14.5% from 2023 to 2030. Numerous governments are implementing initiatives to reduce carbon footprints by promoting electric vehicles, including bikes and bicycles. The growing awareness of the detrimental effects of fossil fuel-powered vehicles further drives this trend.
E-Bikes Market Trends
In 2022, the trekking segment accounted for the largest share of revenue at 49.5%. E-Bikes are increasingly being utilised for recreational and trekking purposes. Moreover, the rising interest in performance-oriented adventures and the growing demand for leisure activities are projected to bolster market expansion. The cargo segment is forecasted to experience significant growth with a CAGR of 15.4% over the prediction period. This growth is attributed to the escalating demand for e-bikes to transport goods from one location to another.
Part II
The Continued Rise
of Second-Hand
A shift in buyer behavior
Amidst the pandemic, people found themselves spending more time at home, leading to a surge in the popularity of secondhand objects and products. This increase was driven by industry-wide supply chain delays, a growing eco-consciousness among consumers, and a need to save money. Recently, economic uncertainty has further emphasized the value-oriented mindset of customers, boosting the appeal of micro-trends on social media. Many of these trends promote inexpensive dupes - cheaply produced, lower-quality knockoffs of name brands. Although overconsumption may seem prevalent, climate-related weather events have made consumers more mindful of the direct impact of their spending habits.
70%
of American consumers say that a sustainable lifestyle is important to them.
Source: Survey McKinsey, 2O20
61%
of Americans are now shopping for secondhand items online.
Source: Verified Market Research, 2021
5 TOP PRODUCTS AT UPWAY
3 TOP BRANDS AT UPWAY
Part III
A Tangible Impact
By making e-Bikes more accessible, Upway is actively decreasing CO2 emissions.
By selling refurbished bikes, Upway is reducing their environmental footprint
FOCUS ON TRADE-IN
At Upway, we're committed to promoting the circular economy with the Trade-in service. The program allows independent bike shops to boost sales of new bicycles by purchasing used e-Bikes from future customers at a competitive price without having to manage the estimation, resale, and logistics of these bicycles themselves. In a few numbers:
- 200 active partners in the US since the program started in May 2023 and 1000 active partners globally.
- $0 cost of the partner.
- 11 seconds to get a quote.
More trade, more sales for bike shops
Trade-in generates more trades as customers are motivated to exchange their old items for new ones. This, in turn, leads to increased sales as customers make new purchases.
Moreover, it can result in more usage of the store's services (such as maintenance and upgrades) and overall contributes to higher in-store traffic.
Strong algorithm
Our trade-in algorithm assesses the value of a brand on the second-hand market in real time.
The trade-in tool evolves regularly according to the supply and demand of each brand on the second-hand market: a brand can see its residual value evolve upwards or downwards depending on the market and seasonality.
PART IV
About Upway
Did you know that in 2022, e-Bike sales outpaced U.S. electric car sales? Upway was founded in 2021 to enable riders to get in the saddle without overpaying for a high-quality electric bike or feeling uncertain about purchasing a pre-owned bike on classified websites.
We offer riders a one-stop-shop with an unparalleled selection of affordable, thoroughly inspected, and professionally repaired brand-new and certified pre-owned electric bikes, with a 14-day return period and a 1-year warranty for complete peace of mind.
HOW IT WORKS
We launched a fully integrated operating model from purchasing to selling...
WHY UPWAY
An selection of e-Bikes at an unbeatable price
E-Bikes are expensive - there’s no getting around that. We offer e-Bikes from top-tier American brands like Specialized, Rad Power, or Super73 as well as brands such as Riese & Müller or Gazelle who have fans worldwide.
We partner with bike shops and manufacturers to pass on incredible savings to our customers - up to 60% off retail.
Trust and quality at every turn
Each electric bike undergoes a meticulous certification process led by our professional in-house master mechanics based in Brooklyn, NYC. Through a comprehensive 20-point inspection, we ensure each e-Bike is in top-notch condition before it reaches your doorstep.
We stand by the quality of our e-bikes with our 1-year warranty that covers for any mechanical or electrical failure.
Better for the planet
Electric bikes are emerging as a leading mode of transportation in the United States, and for good reason. They offer an eco-friendly alternative that addresses both environmental concerns and personal economic benefits such as saving on gas prices.
Our certified pre-owned e-Bikes contribute to further reduce electronic waste and carbon emissions compared to brand-new bikes.
At Upway, we pride ourselves on offering top-quality e-Bikes at competitive prices. How do we do that? We achieve this through strategic partnerships with leading manufacturers and bike shop. Additionally, we accept trade-ins, meticulously inspecting, repairing, and certifying pre-owned e-bikes to ensure they meet our rigorous standards for performance and safety. By leveraging overstock and clearance sales from trusted sources, we're able to provide new bikes with minimal mileage at discounted prices.
Our mechanics, operations, marketing and customer support teams are based in our warehouse in Brooklyn, NYC. In this warehouse boasting a capacity of 2500 units, we meticulously receive, sort, inspect, and repair all e-Bikes, followed by thorough cleaning and professional photography sessions before uploading them onto our website. These e-Bikes will be securely housed here until dispatched to the ultimate consumer.
"...has already made a name for itself in Europe, where it has refurbished and certified more than 10,000 e-bikes.”
"Upway, a secondary market for used e-bikes, launched a repair program for VanMoof bike owners."
"...offers deep discounts on refurb, overstock premium bikes." "Wow, is it impressive."
"One of the best marketplaces for certified e-bikes, new or not."
"Now used eBikes in the U.S. have their own platform thanks to Upway."
"Upway’s marketplace is now making it possible to saddle up on a safe, sustainable ride."
"Upway is a startup building a platform to buy, refurbish, and sell second-life e-Bikes."
DISCOVER THE E-BIKE GUIDE
Embark on your electric biking journey with confidence, guided by the E-Bike Guide. Designed to empower riders of all levels, this comprehensive manual offers invaluable insights into selecting the perfect e-bike and ensuring its longevity through proper maintenance.
