Abstract: Heave compensation devices play a critical role in ensuring operational safety and expanding the operational window during offshore lifting operations. This paper provides a systematic overview of portable integrated heave compensation devices, including PHC, adaptive PHC, AHC, and SAHC, with a comparative analysis of their advantages and disadvantages. For various compensation objectives—such as tension compensation, position compensation, and hybrid compensation—the principles of operation and control method applicable to different scenarios are elaborated. Key international products of portable integrated heave compensation devices are introduced, focusing on their current development status to address diverse compensation needs. Finally, the paper summarizes the characteristics and advantages of these devices, highlighting their significance and exploring future research directions. This study aims to serve as a reference for researchers in China to advance the design and development of portable integrated wave compensation devices, accelerating the localization process of critical offshore engineering equipment.