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Explanation: "Market sector" rings better to my ears than "industry sector" in this particular sentence, but the choice of phrasing will probably have a more significant impact on the final outcome than the choice of words. Here are two rephrasing attempts:
"Axentiv and ESPRiT complement each other’s product line within their market sector."
"Axentiv and ESPRiT complement each other’s product portfolios within their market sector."
Business writing experience
Fuad Yahya Native speaker of: Arabic, English PRO pts in pair: 128