Advisor moving to Industry for a year, How should I reapply for PhD elsewhere?
A third option would be to continue to work with your advisor when he moves to industry, but to have a second advisor in your institution. This second advisor's primary role could be to guide you through the PhD process, so he or she may not need to be in the same field as you. They can help you improve your academic writing skills, and your research skills, offer moral support, help you brainstorm, act as a sounding board for ideas, etc. As you go through your PhD, you may find that you need this kind of help at least as often as you need more technical help.

The company I work for has close ties to nearby academic institutions, so it is common enough that one of us will jointly supervise an MSc or PhD student when their project is somewhat relevant to our industry.

I am also a PhD student, and have two academic advisors. I find this quite useful, as they have different strengths.