Just one thing Catholicism and Calvinism =/= Christianity as E. Rome and Christians outside of Europe clearly demonstrate.
Honestly though, Europe could have been ripe for industrialization if the Eastern powers had been weakened or fallen during their formative years. The Caliphate wouldn't exist if Alī ibn Abī Ṭālib hadn't dodged several knives, as it was the Shia 'schism' ran pretty deep and I shudder to think how bad it would have been if Ali had been a martyr rather than merely living to a 'Godly' age.
A weakened or non existent Caliphate would be hard pressed to resist the Steppe invasions of the next several hundred years as well as they did, all those Central Asian hordes were turned away from the south and into Europe. It's easy to forget just how devastating those invasions were to European politics and society. The Euros didn't get their siege mentality from just anywhere, they got it from the continual waves of invaders that brought down Western Rome and has continued to the freaking present day!
Now imagine those invasions cracking through and breaking into Persia and Arabia, of Baghdad burning under the relentless and remorseless Mongol Hordes as Vienna was annihilated in the Christian year 1258...
That's always been the issue with Europe, with its massive amounts of rivers and coastlines it's always been exceedingly easy to invade and/or divide and conquer or even just isolate. It suited the Western Romans when they were the ones doing the invading, but once the tables were turned.
In many ways Europe is far more suitable for industrial development than either China or Arabia/Persia, they don't have much oil but they more than make up for that in coal, iron and other basic ores, there are vast forests of good timber and far more arable land. During Europe's 'Golden Age,' between CY 1600-1700 or so there were several great trading empires (Flanders, Hanseatic League) that used some of Europe's advantages very well before collapsing to the endless tribal wars that plague the continent.