IGBT vs MOSFET inverter (which is better)?
IGBTs have a saturation voltage, FETs have an on resistance.  The die area of a FET increases substantially with voltage rating, where IGBTs at high voltages can have smaller dies.  (Lower cost).
IGBTs are also a minority carrier device, so turning them off takes time compared to a FET.  So higher switching losses and lower frequency operation is typical vs. FETs.
For low voltages FETs usually win, because the RDSon times the current is less than the saturation voltage.
For higher voltages, GAN FETs, SiC FETs, or IGBTs are usually the winner.
For 40V and 100kHz I would certainly consider conventional silicon FETs, but you can do the comparison between cost and losses for the various options.