Heat Pumps parts
There are two main types of heat pumps: ground and air-source heat pumps. They involve the same basic parts and technology, with a big difference: ground-source heat pumps comprise a buried system of pipes (a loop) from which they get the heat or the cold...
Parts of the air heat pumps
Air heat pumps, refrigerators and air conditioners share the same technological core and many of their components.
Most air source heat pumps (including ductless heat pumps) comprise an outdoor unit and an indoor unit.
The outdoor unit involves the compressor, the outdoor coil, a reversing valve and a fan.
The indoor unit (or air handler) contains the indoor coil and a blower; it may also comprise a supplemental heating system, for freezing temperatures (air-source heat pumps aren't efficient enough when temperatures dips below 40ºF/3ºC).
Instead of this split design, some central air-source heat pumps have a packaged design: a single unit located outdoors. See: Heat Pumps Designs
Parts of the ground heat pumps
Unlike the air-source heat pumps, ground-source and water heat pumps do not have any outside unit. Their only outside part is a set of underground pipes. All their other components - compressor, condenser, evaporator, air handler, valve - are located inside.
Heat pump parts
The technological core of heat pumps (with the exception of the loop system, in the case of ground-source heat pumps) involves the same five elements.
1- A reversing valve, near the compressor, to change the heat pump system from cooling to heating mode, or the opposite. The valve reverses the flow of the refrigerant, to pump the heat inside your home (heating mode) or to pump it outside home (cooling mode).
2- A compressor: to compress the refrigerant in order to remove heat from the house and to vent it to the outside (in the cooling mode) or the reverse.
3- A condenser: a set of coils to move heat to or from the outside air or ground.
4- An evaporator: a set of coils to move heat to or from inside air.
5- An air handler or blower: the part of the heat pumps that propels and pushes the air into the ducts.

The compressor, the condenser, the evaporator and the air handler parts of the heat pump are common to standard air conditioners... See the image for a depicting of a split system functioning (Image Credit: EERE)..
The core of a ground-source heat pump is also similar to air-source heat-pumps. The only decisive difference is on their the buried pipe system part. See image.
See: Ground and water heat pumps.
See also:
New Heat Pumps
Heat Pump Designs
Ground heat pump loop installation
Heat pumps problems
Heat Pumps Cooling
Heat Pumps Benefits and Environment
Heat Pumps vs. Furnaces
Heat Pumps vs. Air Conditioners
