One day while working at my bench, it occurred to me that I could gain additional storage space on my pegboard rack without increasing the size of the footprint on the wall. To do this, I made the panels into three-dimensional sections, as shown in the photo above.
Three frames. Each section consists of a triangular frame with two pieces of pegboard attached to the front face of each frame. A pair of cleats on the back of the frame provides a surface for mounting each section to the wall. And the top and bottom panels, along with the uprights, add rigidity to the assembly. The top panel even doubles as a small shelf.
I mounted the frames to the wall through the cleats before screwing the pegboard sections to the frame. This configuration as shown added over 40% more surface area.