What device is used to suspend a tool on a retractable chord above the work area?

The tool balancer is specifically designed to suspend a tool on a retractable chord above the work area. This device allows for easy access to the tool while preventing it from becoming a safety hazard or creating clutter in the workspace. The retractable feature ensures that the tool can be pulled down for use and then safely retracted back into position, where it stays out of the way. This mechanism not only enhances efficiency by keeping tools readily available but also reduces the risk of accidents by minimizing the chances of tools being dropped or tripped over.

In contrast, a tool holder typically serves to secure a tool in one fixed position rather than suspending it and may not offer the same retractability. A tool dock is used for storing or charging tools in a designated area, while a tool hook simply offers a way to hang tools but lacks the retraction and balance features essential for safety and ease of use in a workspace. Therefore, the tool balancer stands out as the most effective device for this specific function.