The three tools I use most are my impact driver, my drill, and my shop light. After years of moving them from home to home in the shop trying to keep them easy to get to, but out of the way... I had never found the perfect spot. Then I was building an extension to my peg board (from 5' to 8') and I happened upon this rack in the suggestions. I decided to give it a try, and I'm very happy with the results.Most of the single tool hanging racks I've found wind up hanging them crooked, and they usually take up a ton of space for one tool. This rack fits three tools in a space I'd normally only be able to fit two. And it has storage for extra batteries up top. With the tools hanging, it takes up about 1/3 of a 16"x32" slotted peg board (you'll need a slot board, not just a peg board, or you'll need to route slots into a peg board). I use the steel boards that have pegs and slots, so no issue for me, but you should be aware before you buy. It has two rails that very securely fit the slots, and the rack hooks into the top rail and slides down into the bottom rail. It is very secure but can be taken down easily.Most pistol grip battery powered tools should fit this, if the battery attaches at the bottom of the pistol grip (as most do). There is a lip on the front of the rack that will keep the tools from sliding forward, and three angled bays on the top designed to hold extra batteries. My only complaint is that it would have been nice if these bays were fully enclosed to make them useful for holding bits. Unfortunately, they make these from stamped steel bent to shape, so that likely won't happen.If you want your cordless drills, drivers, etc hanging from your slotted peg board, this is the best, most space efficient solution I know of.