Let $C_n$ denote the (random) size of the maximum cycle in a (uniform) simple random 2-regular graph on $n$ (labeled) vertices; $\langle C_n\rangle$ will denote its expectation value.

No theorems below, but here are the results of some experiments performed with SageMath (code below); they seem to suggest $\langle C_n\rangle\approx 0.76 n$, in line with Richard Stanley's first comment above. I can't be sure whether the values of $n$ I considered were large enough, so *caveat lector*!

I generated $10^4$, 5000 and 1000 random 2-regular graphs of size $n$ using SageMath's `graphs.RandomRegular`

function (see link for citations for the algorithm) for $100\leq n<1000$, $1000\leq n<5000$, $5000\leq n\leq10100$, respectively. The above figure shows the mean size of the largest component as a function of $n$.

Next, I show the number of occurrences of each value of $C_n$ (an estimated probability distribution function) in the sampled $n$-vertex random graphs.

For $n=100$:

For $n=1000$:

For $n=10000$:

In all cases, there is a relatively large spike at $C_n=n$, and 0 occurrences of $C_n=n-1,n-2$ (since the graphs must be simple); this isn't always visible in the plots above due to the binning.

Since a large fraction of the distribution seemed to be concentrated at $n$, I also decided to check the probability $P_n$ of the event $C_n=n$. Here's a log-log plot:

Brendan McKay has commented that his technique shows that $P_n=(1+o(1))e^{3/4}\sqrt{\frac{\pi}{4n}}$ (drawn in red).

Code:

```
runs=1000
means = [0]*51
nummax = [0]*51
numruns = [0]*51
for ind,n in enumerate(range(100,10101,200)):
runs = 1000
if n < 5000:
runs = 5000
if n < 1000:
runs = 10000
data = [0]*runs
for j in range(runs):
G = graphs.RandomRegular(2,n)
data[j] = G.connected_components_sizes()[0]
numruns[ind] = runs
means[ind] = mean(data)
nummax[ind] = len([k for k in range(len(data)) if data[k]==n])
```

directedcycles (equivalently, random permutations of $1,2,\dots,n$) then by a result of Lloyd and Shepp (ams.org/journals/tran/1966-121-02/S0002-9947-1966-0195117-8/…) the expected length of the longest cycle is asymptotic to $cn$, where $c= \int_0^\infty \exp\left( -x-\int_x^\infty \frac{e^-y}{y}\,dy\right)\,dx$ $= 0.6243\cdots$. Presumably a similar argument will work for undirected cycles. $\endgroup$3more comments