Gas-Engine Heat Pump (GHP) Market Size 2025, Growth Projections, Key Players, Regional Insights and Industry Forecast Analysis

The report titled, "Global Gas-Engine Heat Pump (GHP) Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031" has been recently published by QY Research. The authors of the report have done extensive study of the global Gas-Engine Heat Pump (GHP) market keeping in mind the key aspects such as growth determinants, opportunities, challenges, restraints, and market developments. This analysis will enrich the ability of the companies involved in the global Gas-Engine Heat Pump (GHP) market to make precise decisions. The report also emphasizes on the current and future trends in the global Gas-Engine Heat Pump (GHP) market, which may bode well for the global Gas-Engine Heat Pump (GHP) market in the coming years. Impact of the driving factors on the global Gas-Engine Heat Pump (GHP) market growth has been mapped by the report. Besides, factors that are likely to challenge the global Gas-Engine Heat Pump (GHP) market growth in the years to come are discussed by the industry experts in the report.

The global market for Gas-Engine Heat Pump (GHP) was estimated to be worth US$ 777 million in 2024 and is forecast to a readjusted size of US$ 988 million by 2031 with a CAGR of 3.3% during the forecast period 2025-2031.

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Gas Engine-driven Heat Pump (GEHP) or Gas Heat Pumps (GHP) air conditioning systems are used to comfortably heat or cool large spaces. They use gas to fuel the engine that drives the compressor. A gas heat pump is a heating appliance which uses the renewable energy stored in the soil, groundwater or the environment for heating purposes. It then combines this environmental heat with high efficiency gas-fired condensing technology.

What's GHP? An air conditioning system provides both cooling and heating by circulating refrigerant with a compressor (Heat Pump Cycle). The basic system for the heating and cooling cycle is the same as an Electric Heat Pump (EHP). The main difference between GHP and EHP is whether it uses an electric motor or a gas engine to drive the compressor in the outdoor unit, which is often called the heart of the air conditioning system. This difference realizes comfortable cooling and heating in a GHP and is the major feature of a GHP system that offers numerous advantages.

Gas-Engine Heat Pumps (GHP) are hybrid systems that combine a gas-powered internal combustion engine with a heat pump to provide highly efficient heating, cooling, and hot water. They leverage natural gas as a primary energy source while recovering waste heat from the engine to enhance overall efficiency.

​​Key Advantages​​

​​1. High Efficiency​​: Combined Coefficient of Performance (COP) reaches ​​1.8-2.5​​, far exceeding traditional boilers (COP 0.8-0.9).

​​2. Grid Relief​​: Reduces reliance on electricity, easing peak grid demand, ideal for regions with unstable power infrastructure.

​​3. Fuel Flexibility​​: Compatible with natural gas, biogas, or hydrogen blends, supporting low-carbon transitions.

Market Drivers​​

​​1. Policy & Regulations​​

​​Carbon Neutrality Goals​​: GHPs are promoted under clean heating subsidies in China (e.g., "Coal-to-Gas" policy) and the EU's RePowerEU plan.

​​Stricter Efficiency Standards​​: EU Ecodesign Directive and U.S. DOE regulations phase out low-efficiency boilers, favoring GHPs.

​​2. Economic Benefits​​

​​Lower Operational Costs​​: In gas-rich regions (e.g., North America, Russia), GHPs offer ​​15-25% lower lifecycle costs​​ than electric heat pumps.

​​Peak Electricity Cost Avoidance​​: Ideal for commercial/industrial users facing high peak-time electricity tariffs.

​​3. Technological Innovations​​

​​AI Optimization​​: Japanese manufacturers (e.g., Panasonic) integrate AI to balance engine load and heat pump output dynamically.

​​Hydrogen Readiness​​: Prototype GEHPs (e.g., Viessmann's Lambda Hybrid) support 20-30% hydrogen blending for future decarbonization.

GHPs are poised for rapid growth in gas-rich, decarbonization-focused markets (e.g., China, Europe). Short-term success depends on policy support to offset costs, while long-term viability hinges on hydrogen compatibility and smart grid integration. For stakeholders, investing in hydrogen-ready technologies and energy-as-a-service (EaaS) models will be critical to capturing this hybrid energy future.

Geographically, Japan is the largest consumption region, which plays a more important role in the world. Europe and China will have some fast development because of the policy and GHP high efficiency.

The global major manufacturers of Gas-Engine Heat Pump (GHP) include Yanmar, AISIN, Panasonic, Daikin, Mitsubishi, LG Electronics, Schwank, Tecogen, Inc., Blue Flame High-tech (Tianjin) and Smart Action etc. In terms of revenue, the global three largest players hold a 90.79% market share of Gas-Engine Heat Pump (GHP) in 2024.

Top Players operating in the global Gas-Engine Heat Pump (GHP) Market are:

Mitsubishi Heavy Industries Ltd.
Toshiba Corporation
Daikin Industries Ltd.
Hitachi Ltd.
Mitsubishi Electric Corporation
Trane Technologies plc
Fujitsu General Limited
Johnson Controls International plc
Carrier Global Corporation
Bosch Thermotechnology
LG Electronics Inc.
Glen Dimplex Group
Viessmann Group
Danfoss A/S
Vaillant Group

Market Segmentation

The report offers deep insights into leading segments of the global Gas-Engine Heat Pump (GHP) market and explains key factors helping them to collect a larger share. It provides accurate growth rate and market size achieved by each segment during the forecast period. This will help players to identify lucrative segments and plan out specific strategies to gain maximum profit from them. The report also includes sales growth, revenue, and price changes observed in important segments. Most importantly, the segmental analysis equips players with useful information and data to make the best of opportunities available in different segments.

Details of Gas-Engine Heat Pump (GHP) Market Segmentation: -

Segment by Type:

Below 10HP
10-20HP
Above 20HP

Segment by Application:

Commercial
Schools & Universities
Industrial & Residential

Regional Analysis:

The report offers a deep geographical study of the global Gas-Engine Heat Pump (GHP) market where growth prospects in key regions and countries are identified to help players expand their market presence. Market drivers for each regional market are broadly analyzed in the report. Moreover, the geographical analysis provided in the report could help readers to become familiar with challenges that are specific to the regional markets analyzed. All the regional and country-wise markets studied in the report are analyzed on the basis of growth rate, value, volume, and other vital factors. This will help readers to gain in-depth knowledge of the regional growth of the Gas-Engine Heat Pump (GHP) market.

Highlights of Report

(1) Buyers of the report will have access to unique information about top 10 players of the global Gas-Engine Heat Pump (GHP) market

(2) The report informs readers about future products and technologies to be introduced in the global Gas-Engine Heat Pump (GHP) market

(3) Readers are offered with comprehensive analysis on key revenue pockets of the global Gas-Engine Heat Pump (GHP) market

(4) The report provides details about long-term and short-term strategies adopted by major players of the global Gas-Engine Heat Pump (GHP) market

(5) The authors of the report have provided demand and growth trends of the global Gas-Engine Heat Pump (GHP) market and also its segments

(6) In the geographical analysis section, the report discusses about recent market developments in different regions and countries.

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Table of Content

1 Market Overview
1.1 Gas-Engine Heat Pump (GHP) Product Introduction
1.2 Global Gas-Engine Heat Pump (GHP) Market Size Forecast
1.2.1 Global Gas-Engine Heat Pump (GHP) Sales Value (2020-2031)
1.2.2 Global Gas-Engine Heat Pump (GHP) Sales Volume (2020-2031)
1.2.3 Global Gas-Engine Heat Pump (GHP) Sales Price (2020-2031)
1.3 Gas-Engine Heat Pump (GHP) Market Trends & Drivers
1.3.1 Gas-Engine Heat Pump (GHP) Industry Trends
1.3.2 Gas-Engine Heat Pump (GHP) Market Drivers & Opportunity
1.3.3 Gas-Engine Heat Pump (GHP) Market Challenges
1.3.4 Gas-Engine Heat Pump (GHP) Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global Gas-Engine Heat Pump (GHP) Players Revenue Ranking (2024)
2.2 Global Gas-Engine Heat Pump (GHP) Revenue by Company (2020-2025)
2.3 Global Gas-Engine Heat Pump (GHP) Players Sales Volume Ranking (2024)
2.4 Global Gas-Engine Heat Pump (GHP) Sales Volume by Company Players (2020-2025)
2.5 Global Gas-Engine Heat Pump (GHP) Average Price by Company (2020-2025)
2.6 Key Manufacturers Gas-Engine Heat Pump (GHP) Manufacturing Base and Headquarters
2.7 Key Manufacturers Gas-Engine Heat Pump (GHP) Product Offered
2.8 Key Manufacturers Time to Begin Mass Production of Gas-Engine Heat Pump (GHP)
2.9 Gas-Engine Heat Pump (GHP) Market Competitive Analysis
2.9.1 Gas-Engine Heat Pump (GHP) Market Concentration Rate (2020-2025)
2.9.2 Global 5 and 10 Largest Manufacturers by Gas-Engine Heat Pump (GHP) Revenue in 2024
2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Gas-Engine Heat Pump (GHP) as of 2024)
2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Type
3.1 Introduction by Type
3.1.1 Below 10HP
3.1.2 10-20HP
3.1.3 Above 20HP
3.2 Global Gas-Engine Heat Pump (GHP) Sales Value by Type
3.2.1 Global Gas-Engine Heat Pump (GHP) Sales Value by Type (2020 VS 2024 VS 2031)
3.2.2 Global Gas-Engine Heat Pump (GHP) Sales Value, by Type (2020-2031)
3.2.3 Global Gas-Engine Heat Pump (GHP) Sales Value, by Type (%) (2020-2031)
3.3 Global Gas-Engine Heat Pump (GHP) Sales Volume by Type
3.3.1 Global Gas-Engine Heat Pump (GHP) Sales Volume by Type (2020 VS 2024 VS 2031)
3.3.2 Global Gas-Engine Heat Pump (GHP) Sales Volume, by Type (2020-2031)
3.3.3 Global Gas-Engine Heat Pump (GHP) Sales Volume, by Type (%) (2020-2031)
3.4 Global Gas-Engine Heat Pump (GHP) Average Price by Type (2020-2031)
4 Segmentation by Application
4.1 Introduction by Application
4.1.1 Commercial
4.1.2 Schools & Universities
4.1.3 Industrial & Residential
4.2 Global Gas-Engine Heat Pump (GHP) Sales Value by Application
4.2.1 Global Gas-Engine Heat Pump (GHP) Sales Value by Application (2020 VS 2024 VS 2031)
4.2.2 Global Gas-Engine Heat Pump (GHP) Sales Value, by Application (2020-2031)
4.2.3 Global Gas-Engine Heat Pump (GHP) Sales Value, by Application (%) (2020-2031)
4.3 Global Gas-Engine Heat Pump (GHP) Sales Volume by Application
4.3.1 Global Gas-Engine Heat Pump (GHP) Sales Volume by Application (2020 VS 2024 VS 2031)
4.3.2 Global Gas-Engine Heat Pump (GHP) Sales Volume, by Application (2020-2031)
4.3.3 Global Gas-Engine Heat Pump (GHP) Sales Volume, by Application (%) (2020-2031)
4.4 Global Gas-Engine Heat Pump (GHP) Average Price by Application (2020-2031)
5 Segmentation by Region
5.1 Global Gas-Engine Heat Pump (GHP) Sales Value by Region
5.1.1 Global Gas-Engine Heat Pump (GHP) Sales Value by Region: 2020 VS 2024 VS 2031
5.1.2 Global Gas-Engine Heat Pump (GHP) Sales Value by Region (2020-2025)
5.1.3 Global Gas-Engine Heat Pump (GHP) Sales Value by Region (2026-2031)
5.1.4 Global Gas-Engine Heat Pump (GHP) Sales Value by Region (%), (2020-2031)
5.2 Global Gas-Engine Heat Pump (GHP) Sales Volume by Region
5.2.1 Global Gas-Engine Heat Pump (GHP) Sales Volume by Region: 2020 VS 2024 VS 2031
5.2.2 Global Gas-Engine Heat Pump (GHP) Sales Volume by Region (2020-2025)
5.2.3 Global Gas-Engine Heat Pump (GHP) Sales Volume by Region (2026-2031)
5.2.4 Global Gas-Engine Heat Pump (GHP) Sales Volume by Region (%), (2020-2031)
5.3 Global Gas-Engine Heat Pump (GHP) Average Price by Region (2020-2031)
5.4 North America
5.4.1 North America Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
5.4.2 North America Gas-Engine Heat Pump (GHP) Sales Value by Country (%), 2024 VS 2031
5.5 Europe
5.5.1 Europe Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
5.5.2 Europe Gas-Engine Heat Pump (GHP) Sales Value by Country (%), 2024 VS 2031
5.6 Asia Pacific
5.6.1 Asia Pacific Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
5.6.2 Asia Pacific Gas-Engine Heat Pump (GHP) Sales Value by Region (%), 2024 VS 2031
5.7 South America
5.7.1 South America Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
5.7.2 South America Gas-Engine Heat Pump (GHP) Sales Value by Country (%), 2024 VS 2031
5.8 Middle East & Africa
5.8.1 Middle East & Africa Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
5.8.2 Middle East & Africa Gas-Engine Heat Pump (GHP) Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions Gas-Engine Heat Pump (GHP) Sales Value Growth Trends, 2020 VS 2024 VS 2031
6.2 Key Countries/Regions Gas-Engine Heat Pump (GHP) Sales Value and Sales Volume
6.2.1 Key Countries/Regions Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
6.2.2 Key Countries/Regions Gas-Engine Heat Pump (GHP) Sales Volume, 2020-2031
6.3 United States
6.3.1 United States Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
6.3.2 United States Gas-Engine Heat Pump (GHP) Sales Value by Type (%), 2024 VS 2031
6.3.3 United States Gas-Engine Heat Pump (GHP) Sales Value by Application, 2024 VS 2031
6.4 Europe
6.4.1 Europe Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
6.4.2 Europe Gas-Engine Heat Pump (GHP) Sales Value by Type (%), 2024 VS 2031
6.4.3 Europe Gas-Engine Heat Pump (GHP) Sales Value by Application, 2024 VS 2031
6.5 China
6.5.1 China Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
6.5.2 China Gas-Engine Heat Pump (GHP) Sales Value by Type (%), 2024 VS 2031
6.5.3 China Gas-Engine Heat Pump (GHP) Sales Value by Application, 2024 VS 2031
6.6 Japan
6.6.1 Japan Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
6.6.2 Japan Gas-Engine Heat Pump (GHP) Sales Value by Type (%), 2024 VS 2031
6.6.3 Japan Gas-Engine Heat Pump (GHP) Sales Value by Application, 2024 VS 2031
6.7 South Korea
6.7.1 South Korea Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
6.7.2 South Korea Gas-Engine Heat Pump (GHP) Sales Value by Type (%), 2024 VS 2031
6.7.3 South Korea Gas-Engine Heat Pump (GHP) Sales Value by Application, 2024 VS 2031
6.8 Southeast Asia
6.8.1 Southeast Asia Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
6.8.2 Southeast Asia Gas-Engine Heat Pump (GHP) Sales Value by Type (%), 2024 VS 2031
6.8.3 Southeast Asia Gas-Engine Heat Pump (GHP) Sales Value by Application, 2024 VS 2031
6.9 India
6.9.1 India Gas-Engine Heat Pump (GHP) Sales Value, 2020-2031
6.9.2 India Gas-Engine Heat Pump (GHP) Sales Value by Type (%), 2024 VS 2031
6.9.3 India Gas-Engine Heat Pump (GHP) Sales Value by Application, 2024 VS 2031
7 Company Profiles
7.1 Yanmar
7.1.1 Yanmar Company Information
7.1.2 Yanmar Introduction and Business Overview
7.1.3 Yanmar Gas-Engine Heat Pump (GHP) Sales, Revenue, Price and Gross Margin (2020-2025)
7.1.4 Yanmar Gas-Engine Heat Pump (GHP) Product Offerings
7.1.5 Yanmar Recent Development
7.2 Aisin Seiki
7.2.1 Aisin Seiki Company Information
7.2.2 Aisin Seiki Introduction and Business Overview
7.2.3 Aisin Seiki Gas-Engine Heat Pump (GHP) Sales, Revenue, Price and Gross Margin (2020-2025)
7.2.4 Aisin Seiki Gas-Engine Heat Pump (GHP) Product Offerings
7.2.5 Aisin Seiki Recent Development
7.3 Panasonic
7.3.1 Panasonic Company Information
7.3.2 Panasonic Introduction and Business Overview
7.3.3 Panasonic Gas-Engine Heat Pump (GHP) Sales, Revenue, Price and Gross Margin (2020-2025)
7.3.4 Panasonic Gas-Engine Heat Pump (GHP) Product Offerings
7.3.5 Panasonic Recent Development
7.4 Daikin
7.4.1 Daikin Company Information
7.4.2 Daikin Introduction and Business Overview
7.4.3 Daikin Gas-Engine Heat Pump (GHP) Sales, Revenue, Price and Gross Margin (2020-2025)
7.4.4 Daikin Gas-Engine Heat Pump (GHP) Product Offerings
7.4.5 Daikin Recent Development
7.5 Mitsubishi
7.5.1 Mitsubishi Company Information
7.5.2 Mitsubishi Introduction and Business Overview
7.5.3 Mitsubishi Gas-Engine Heat Pump (GHP) Sales, Revenue, Price and Gross Margin (2020-2025)
7.5.4 Mitsubishi Gas-Engine Heat Pump (GHP) Product Offerings
7.5.5 Mitsubishi Recent Development
7.6 LG Electronics
7.6.1 LG Electronics Company Information
7.6.2 LG Electronics Introduction and Business Overview
7.6.3 LG Electronics Gas-Engine Heat Pump (GHP) Sales, Revenue, Price and Gross Margin (2020-2025)
7.6.4 LG Electronics Gas-Engine Heat Pump (GHP) Product Offerings
7.6.5 LG Electronics Recent Development
7.7 Schwank
7.7.1 Schwank Company Information
7.7.2 Schwank Introduction and Business Overview
7.7.3 Schwank Gas-Engine Heat Pump (GHP) Sales, Revenue, Price and Gross Margin (2020-2025)
7.7.4 Schwank Gas-Engine Heat Pump (GHP) Product Offerings
7.7.5 Schwank Recent Development
7.8 Tecogen, Inc.
7.8.1 Tecogen, Inc. Company Information
7.8.2 Tecogen, Inc. Introduction and Business Overview
7.8.3 Tecogen, Inc. Gas-Engine Heat Pump (GHP) Sales, Revenue, Price and Gross Margin (2020-2025)
7.8.4 Tecogen, Inc. Gas-Engine Heat Pump (GHP) Product Offerings
7.8.5 Tecogen, Inc. Recent Development
7.9 Blue Flame High-tech (Tianjin)
7.9.1 Blue Flame High-tech (Tianjin) Company Information
7.9.2 Blue Flame High-tech (Tianjin) Introduction and Business Overview
7.9.3 Blue Flame High-tech (Tianjin) Gas-Engine Heat Pump (GHP) Sales, Revenue, Price and Gross Margin (2020-2025)
7.9.4 Blue Flame High-tech (Tianjin) Gas-Engine Heat Pump (GHP) Product Offerings
7.9.5 Blue Flame High-tech (Tianjin) Recent Development
7.10 Smart Action
7.10.1 Smart Action Company Information
7.10.2 Smart Action Introduction and Business Overview
7.10.3 Smart Action Gas-Engine Heat Pump (GHP) Sales, Revenue, Price and Gross Margin (2020-2025)
7.10.4 Smart Action Gas-Engine Heat Pump (GHP) Product Offerings
7.10.5 Smart Action Recent Development
7.11 ZKG Energy
7.11.1 ZKG Energy Company Information
7.11.2 ZKG Energy Introduction and Business Overview
7.11.3 ZKG Energy Gas-Engine Heat Pump (GHP) Sales, Revenue, Price and Gross Margin (2020-2025)
7.11.4 ZKG Energy Gas-Engine Heat Pump (GHP) Product Offerings
7.11.5 ZKG Energy Recent Development
8 Industry Chain Analysis
8.1 Gas-Engine Heat Pump (GHP) Industrial Chain
8.2 Gas-Engine Heat Pump (GHP) Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 Gas-Engine Heat Pump (GHP) Sales Model
8.5.2 Sales Channel
8.5.3 Gas-Engine Heat Pump (GHP) Distributors
9 Research Findings and Conclusion
10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Market Size Estimation
10.1.1.3 Market Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer

This Gas-Engine Heat Pump (GHP) Market Research Report Contains Answers to your following Questions

(A) Which Manufacturing Technology is Used for Gas-Engine Heat Pump (GHP)? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?

(B) Who Are the Global Key Players in This Gas-Engine Heat Pump (GHP) Market? What's Their Company Profile, Their Product Information, and Contact Information?

(C) What Was Global Market Status of Gas-Engine Heat Pump (GHP) Market? What Was Capacity, Production Value, Cost and PROFIT of Gas-Engine Heat Pump (GHP) Market?

(D) What Is Current Market Status of Gas-Engine Heat Pump (GHP) Industry? What's Market Competition in This Industry, Both Company, and Country Wise? What's Market Analysis of Gas-Engine Heat Pump (GHP) Market by Taking Applications and Types in Consideration?

(E) What Are Projections of Global Gas-Engine Heat Pump (GHP) Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?

(F) What Is Gas-Engine Heat Pump (GHP) Market Chain Analysis by Upstream Raw Materials and Downstream Industry?

(G) What Is Economic Impact On Gas-Engine Heat Pump (GHP) Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?

(H) What Are Market Dynamics of Gas-Engine Heat Pump (GHP) Market? What Are Challenges and Opportunities?

(I) What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Gas-Engine Heat Pump (GHP) Industry?

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