Pegboard sags and the hooks fall out the second you reach for something. I replaced the whole wall with a plywood French-cleat system so shelves, bins, and holders clip in anywhere and never wander.
materials
Sheet
3/4″ plywood
Cleats
Ripped at 45°
Fasteners
Construction screws
Finish
Spray shellac
verdictReconfigurable, dead solid, and cheaper than a commercial rail. Build the cleats first; everything else is offcuts.