The contradiction between increasing demand and current supply has affected the healthy development of industry. Investigating the key influence factors of industrial water use change has important practical significance for water resource management. In this study, the authors propose the vector autoregression model to analyze the dynamic influences of industrial development, technological progress, and environmental protection on industrial water use change, and take Jiangsu Province, China as a case study. Results show that each of the factors had different effects during 2001–2015, in which industrial development was the greatest contributor to the change of industrial water use and showed a positive effect in the forecast period; technological progress played a major role in reducing industrial water use, but the negative effect weakened periodically over time; environmental protection also had a positive influence in the early forecast period, and then showed a marginal effect with time. Results of this study could assist the relevant authorities to formulate appropriate industrial development planning and water saving policies, and to reasonably control the industrial water demand.