PRESSURE REDUCING VALVE

In a pressure reducing valve, a piston is disposed in a piston slide hole of a body so as to be displaceable along an axial direction thereof. An o-ring is disposed through a second annular groove on an outer circumferential surface of the piston. First and second wear rings are disposed respectively in first and third annular grooves, which are distanced from the second annular groove respectively above and below with respect to the second annular groove. A distance along the axial direction between the first annular groove or the first wear ring and the second annular groove or the o-ring, and a distance along the axial direction between the third annular groove or the second wear ring and the second annular groove or the o-ring are set, respectively, to be greater than a stroke distance of the piston along the axial direction.