Fragmentation of high modulus carbon fibres is relevant to the failure mechanisms of advanced polymer matrix composites in compression. In situ spatially-resolved Raman spectroscopy during the fragmentation of model single fibre composites is used to map local stress distributions during failure events. The characteristic graphitic band (the G band) located around 1580 cm−1 is associated with the in-plane carbon-carbon bonds; this band shifts its position, and can be calibrated, with the local axial stress in the fibre. The analysis maps the evolution of local stresses with increasing overall composite compression strain, identifying a series of critical events, including fibre fracture, interfacial debonding, and the formation of inter-fragment ‘wedges’. Fitting shear lag models provides interfacial shear strength values. Multiple failure maps of two examples of high modulus PAN carbon fibres (M46J and M55J) demonstrate the possibility of local fragment bending due to fragment end contact. A timeline of potential fragmentation events is proposed for carbon fibres undergoing compression.