During the 14th Five-Year Plan period, driven by multiple positive factors including a restart of the market cycle and a recovery in external demand, the global offshore engineering equipment market steadily recovered. As international energy prices bottomed out and rebounded, the product structure shifted significantly: floating production equipment became the market focus, offshore wind power orders emerged as a new growth driver, and prices for offshore support vessels continue to rise under capacity constraints. Looking ahead to the 15th Five-Year Plan period, fossil energy is expected to regain prominence as the global energy landscape undergoes profound adjustments. Non-market factors, such as great-power competition and geopolitics, alongside supply-demand fundamentals, will continue to influence energy prices. Consequently, demand for offshore oil and gas equipment orders remains robust, while long-term potential in offshore wind power, other marine renewables, and innovative marine structures continues to hold promise. This paper reviews the recovery and evolution of the global offshore market during the 14th Five-Year Plan period, analyzes the underlying shifts in supply and demand dynamics, and discusses the sector’s development path for the 15th Five-Year Plan period in the context of the ongoing global energy transition, to provide insights for the industry’s high-quality development.