With the development of large-scale and high-speed hydraulic machinery, cavitation of marine propeller, water turbine, booster pump and other related equipment and facilities is becoming more and more serious. Domestic and foreign scholars have conducted a lot of experimental research on the energy conversion of cavitation collapse, providing theoretical guidance for reducing cavitation damage. In this paper, the high-speed camera technology, contact hydrophone measurement technology, non-contact optical deflection method and other related technologies in bubble experimental research were summarized, and their achievable testing functions were discussed. Secondly, four dissipation forms of bubbles energy were summarized: (i) The energy of reconstructing bubbles; (ii) The energy of micro jets; (iii) The energy of pressure waves; (iv) Dissipation in the form of thermal and light energy. Finally, the deficiencies of current research were summarized, and prospects were made in three aspects: establishing a theoretical model of single bubble collapse energy conversion, expanding the experimental research scope of bubble collapse energy conversion to multiple cavities and complex wall scenes, and deeply exploring the mechanism of material cavitation energy change, in order to promote the development of bubble collapse energy conversion theory, technology and methods.