[Moon2020]

Additionally, plastic becomes brittle with age.
It is why infant seats for cars have an expiration date.

We use Consequence vs. Likelihood in our 5x5 risk matrices.
All components that see 125 psi should be rated for 125 psi or above. There is a factor of safety already built into their rating. Make sure the PRV is calibrated properly. Is the gage calibrated properly?

The hazard is from the shrapnel created. The cause can be tank rupture due to: brittle plastic, over pressurization (not properly calibrated PRV), manufacturing flaw, design flaw, workmanship issues (assembly), damage from improper handling, mistreatment, environmental factors (temp, humidity, etc.), etc.