We present an overview of recent advancements and potentialities for industrial applications of lattice Boltzmann methods (LBMs). Various processes and phenomena with industrial importance such as flow in microchannels, dissolution and precipitation of solids, bubble dynamics, droplet formation and breakage, chemical reactions and reactors, mass transfer and optimization in fuel cells, flow in stirred tanks, multicomponent-multiphase flow, flow in porous media, and natural and convective heat transfer have been covered. The LBM implementation for such applications is presented, and the results are analyzed here. Various LBM collision schemes and their impact on the numerical stability and accuracy in the above-mentioned processes are also discussed.