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They improve productivity and reduce the burden of work. They are also used to handle materials that require a higher level of precision and durability. This has resulted in a growing need for high-end power tools that are more durable and precise to their less expensive counterparts. This has resulted in an increase in competition and a price war, which is driving sales in the industry.<br><br>This means that the price of the power tool has risen only a tiny amount year-over-year. This is due mainly to the fact that people continue to buy power tools from stores. In-store sales comprise 56% total Power Tool sales. Online purchases make up only 27 percent of the total market. Online shopping is gaining popularity and sales are expected to increase over the forecast period.<br><br>Home Depot and Lowe's are the two largest retail chains in the industry both in terms dollar value and unit share. Online retailers, like Amazon and Walmart are also increasing their market share. 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