I don't think HP has any specific expectations on when parts may fail over time. Your laptop came with a warranty from HP that covers defects for a limited time but normal wear and tear can be unpredictable . In my experience, most laptops lose display, display cable or display hinges from normal use over time. These can be the most expensive parts to replace as well.
Replacing a hard drive is common after a year or two so don't forget to back up the data you want to protect.
I would not worry too much on when the Components will fail; backing up your data via cloud or other desktops is always a good habit.
In my experiences, PC boards are the prone to failures after sometime. 3 years is actually a good number if you run demanding softwares, such as games and CAD programs.
I would not worry about it too much since the life expectancy of the laptop depends on how much you "work" the laptop.
If you use demandning softwares, it is always good to keep up and equip the latest laptop, if you are using the laptop for browsing and paper work, my guess is that the life expectency for the laptop will be longer