I used over-door clothes hangers to hang my tools peg board on my utility room's door. A lot of space is saved and it sparks joy every time I go there. :
Our Metal Pegboard System [& how to extend an outlet through it!] - Love Create Celebrate
How to Organize Tools on a Pegboard - The Home Depot
Surgical peg board hip positioning system | MorphBoard® by IMP
How to Make a DIY Pegboard Organizer For Your Garage or Craft Room
How to Organize Tools on a Pegboard - The Home Depot
Garage Pegboard Organizer
Pegboard Organizer Wall Control 4 ft. Metal Pegboard Standard Tool Storage Kit with Galvanized Toolboard and Black Accessories - Wall Racks - Amazon.com