I think I see what your getting at, and I know in the building I'm in now everything below 10' and exposed was spec'd to be RMC. This was due to hi-low / porta-pony traffic. (Hi-low + RMC still = FLAT) It makes sense to me in some apps, however I doubt it's required?
I guess the yes/no for EMT would be up to the inspector as far as the "physical damage" aspect. You could probably use "creative placement" to avoid potential vehicle to raceway contact. Your inspector would probably respect / allow that? I would also be concerned about corrosion, if it's not painted. Exhaust is pretty corrosive stuff...
Regards,
Doug S.