It is normally the customer who asks for MAWP in a new installation then the supplier designs the product based on this requirement including EVERY component. This design pressure exists in every related calculation and component selection sheet. Therefore, and typically, every component is likely a limiting factor. It is not just because they want to save material and remain competitive also because that safety devices such as safety valves are always required and installed so nobody needs to design anything to withhold a higher pressure.
It comes many times that customers want to see if they can increase MAWP's of existing products then the engineers have to look at EVERY single pressure part calculation to see if there is still room. Even if found possible to increase MAWP and proceed to do it, it is then called 'alteration' and the pressure part has to be re-calculated and re-certified, inspected, stamped, registered, etc. the whole nine yards with no exceptions.
If only talking about limiting components on the material cost side, I would say normally they are the large items and the ones which consume largest quantities of materials. For example, steam drums and vessels (weakest parts are shell thicknesses), furnace tubes (weakest are thicknesses at bends), piping and components (limited by pressure ratings), etc. The design engineers are very 'frugal' in the calculations and selections because of the highest cost contributions. For example, nowadays, the shell thickness of a steam drum typically allows only 0.02 inch of corrosion otherwise it will not satisfy MAWP. For a furnace tube the number is 0.04 or 0.08 depending on conditions. Smaller items such as nozzles, fittings, etc., like Vesselfab says, one can normally find extra strengths on them and they are not the limiting components. No matter how, like said, every thing needs to be checked for sure.
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