Tool racks and tool trays are used to store and organize tools in an exposed manner so that tools are easy to identify, retrieve, and return. These wall-mounted or free-standing units may be designed for specific tool types, or suitable for general use. For example, ER collet trays are designed specifically to hold the ER collets used in drills and lathes. ER collet tool trays are further categorized according to collet size, with choices for ER11, ER16, ER20, ER25, ER32, and ER40 tool trays. Tool racks may also be designed for specific tool types or suitable for multi-purpose use. While some tool racks have standard hooks for storing stepladders, other are equipped with special hooks for brooms, shovels, and other long-handled tools.  

Tool racks and tool trays differ in terms of shape, size, materials of construction, and features. Metal tool trays are usually round, square, or rectangular. Round tool trays are bowl-shaped or dish-shaped and specified according to diameter, typically in inches and fractions of inches or centimeters. Square tool trays and rectangular tool trays may have beveled edges and deeper recesses. They are specified according to length and width, and may be suitable for storing hammers, wrenches, screwdrivers, pliers, and other hand tools.  Some metal tool trays are made of stainless steel. Others are magnetized to serve as parts trays and stick to ferrous surfaces. To avoid damage to critical locating areas, ER collet trays are made of high-impact plastic instead of steel. 

Like tool trays, tool racks come in various shapes and sizes. Garage and tool organizers are general-purpose storage devices that enable personnel to store tools on wallboards instead of on countertops. Features include plastic pegboards, multiple panels, and metal hooks. Tool board organizers may also differ in terms of shape, size, color, and hardware accessories. J-hooks are wall-mounted, J-shaped hooks that can be used to store cords, hoses, or handheld equipment. U-hooks with extended arms are suitable for deeper items and have feet that hold tools in place. Funnel-shaped tool holders may snap into a mounted rail and then slide. Tool racks with slot hooks or wave hooks are used to hold hammers and wrenches.