Low-temperature industrial waste heat is an important heat source for industrial processes and utility services to reduce the consumption of fossil energy as well as lower the risk of global warming. In this article, a review of waste heat recovery e a critical solution of waste energy disposal is made in order to show the current status of heat recovery potentials and the possible technologies used industries. The concept of industrial waste heat is defined, potential sources of waste heat from industries are identified and conclusions are drawn. Then, the technologies available for waste heat recovery are illustrated in terms of heat pumps, heat exchangers, heat pipes, boilers, refrigeration cycles, power cycles and heat storage according to the transfer mode of waste heat within the recovery process. The waste heat opportunities both in developed and developing countries are discussed in order to determine the possible benefits of heat recovery as well as to make a general survey of the development of heat recovery technologies globally. Research of typical applications of industrial waste heat recovery in Asian countries and especially in China is overviewed to show the performance of this engineering in practice.