Charge Air Pipe.
A pipe that transfers compressed air to from the turbo or super charger to the intercooler.

Fits S60, S80, V70, V70 XC

-2004 EXC B5254T2. -2004 EXC B5254T2/T4.
Turbocharger Intercooler Tube
If your Volvo is equipped with a turbo and you've noticed a reduction in acceleration or a hissing on acceleration accompanying your check engine light, your intercooler or its piping/tubes may need to be repaired or replaced.