How to deal with journal requirements to share data when data comes from industry and industry partner would not permit sharing?

I am going to question the premise:

You ask: Any strategies to handle this situation effectively and convince editors about the non-availability of the datasets to other researchers?

I'm going to say: You can't and you shouldn't.

It isn't that the journal editors don't believe you when you say "This data is not able to be released for other researchers." They don't really care why it isn't available, but they do believe that without that data, it is not the kind of article they want to publish.

Some options which may be valid depending on circumanstances:

• Find a journal that is Ok publishing without data. (For understandable reasons these might not be as good as the more stringent ones)
• Create a new synthetic dataset, that has similar properties to your real data, and present your primary results on that. (And mention as a secondary point your results on the real data)
• Work out what it would take to make the company happy to release the data:
  • Perhaps removing identifiers (E.g. for personal identifying data k-anonymity is a common technique)

See also the related question: Can you publish studies based on confidential customer data that comes from private companies?

The recommendation I always give is to clearly state where the data was obtained from and what strategy was used to select it. If it’s data owned by a commercial partner who is not willing to allow open sharing of the data, you’re unlikely to get them to change their mind, but for the end goal of supporting the reproducibility of the research, clearly stating your sources is a good second best. That will give other researchers the opportunity to approach the company directly and sign their own NDA to get access to the data.